Press Release

Date: 
13-04-2016
Stop cherry picking, Tony
Stop cherry picking, Tony
Category: 

“With reference to a statement by YB Tony Pua this morning, I categorically and unequivocally deny any prior knowledge that Aabar BVI has been liquidated, apart from what I have read in recent press reports. I challenge YB Tony to provide proof of this malicious accusation. 

Given the recent denial by IPIC and the announcement by the Office of the Attorney-General of Switzerland, indicating that 1MDB could be a victim of fraud, 1MDB is exploring all avenues open to us. Further announcements will be made in due course.

Yet, YB Tony persists in misleading the public. In his statement today, he conveniently forgets to mention that whilst 1MDB purchased the power assets at approximately RM12 billion and sold it at RM9.83 billion, the company also received approximately RM2 billion in cash dividends during the period of ownership, which totals RM11.83 billion i.e. a cash-on-cash, near "break-even" position. YB Tony knew this fact, as recorded in the Hansard of my explanation during the PAC proceedings, yet he chose to hide it and mislead the Malaysian public.

The PAC Report, which he collectively approved, has now been tabled and PDRM have confirmed investigations are ongoing. YB Tony should stop cherry picking and let the authorities do their job.”

- Arul Kanda, 1MDB President and Group Executive Director