Press Release

Date: 
26-09-2015
1MDB regrets Dr M easily forgets
1MDB regrets Dr M easily forgets
Category: 

1MDB regrets Dr M easily forgets

1MDB notes certain statements relating to 1MDB posted by YBhg Tun Dr Mahathir Mohamad in his blog on 25 September 2015. Tun Mahathir continues to reuse and recycle stale and unproven allegations, which have repeatedly been proven wrong.

For example; Tun Mahathir previously claimed that RM42 billion was missing from 1MDB. Now, he claims that "over RM 20 billion cannot be traced or accounted for". For Tun Mahathir's benefit, a comprehensive breakdown of how 1MDB utilised its RM42 billion of debt – based on the company's audited financial statements – can be found here: http://1mdb.com.my/press-release/rm42-billion-all-accounted-for

In relation to 1MDB land, Tun Mahathir conveniently forgets that 1MDB is 100% owned by the Government of Malaysia. Therefore, any land value increase directly and solely benefits the Government. Apart from now quoting a much lower land value of RM3000 per square foot (vs RM7000 per square foot in a previous allegation by him), Tun Mahathir forgets to acknowledge that 1MDB has committed RM3 billion on infrastructure development in TRX. This equates to approximately RM1500 of infrastructure expenditure per square foot, paid for by 1MDB, and subsequently recovered through land sales.

Tun Mahathir has also repeated his old claim that 1MDB transferred funds to the private accounts of the Prime Minister. As he will be well aware, this is despite the independent Malaysian Anti-Corruption Commission (MACC) clearly confirming on 3 August 2015 that the funds were from a private donor and not from 1MDB.

1MDB regrets that Tun Mahathir keeps forgetting the facts, not just from 1MDB but from independent and respected agencies such as the MACC. Nevertheless, 1MDB is committed to continue providing responses in order to help Tun, a veteran former politician, remember our fact-based answers.