1MDB disappointed with Zeti's remark on ringgit

KUALA LUMPUR: 1Malaysia Development Bhd has expressed disappointment with Bank Negara Malaysia Governor Tan Sri Dr Zeti Akhtar Aziz who apparently singled out the strategic development company for the ringgit's weakness.

The weakness of the ringgit and other currencies is due to the abrupt fall in oil prices, expectation of rising US interest rates and global economic slowdown in emerging markets, it said in a statement on Tuesday.

"Historically, never once has one company been linked in such a way to the value of the ringgit. We trust that the facts shared by 1MDB and the immediate clarifications issued to date, will provide clarity and assurance to all concerned parties," it said.

1MDB highlighted that the value of its assets exceeds its debt.

Furthermore, it said, Zeti will be aware that 1MDB has consistently met, with no default, its interest service and principal repayment obligations, to both foreign and domestic lenders.