1MDB: The Edge report is old, unsubstantiated and recycled

PETALING JAYA: 1Malaysia Development Bhd has described a report about the company in The Edge Financial Daily as “old, unsubstantiated and recycled”.

“We are surprised that these old and unproven allegations are being recycled yet again, when in fact there are multiple ongoing investigations being conducted by the lawful authorities on the issues raised previously,” the state investment fund said in a statement following the business daily’s front-page report on 1MDB yesterday.

In the four-page report, the daily claimed that US$1.83bil (RM6.9bil) that 1MDB had invested in PetroSaudi International between 2009 and 2011 was a scheme to defraud Malaysia.

In the statement, 1MDB added that any party which could assist investigators should do so under the purview of the law “without resorting to such irresponsible and unnecessary sensationalism”.

“1MDB reiterates our trust in due process as evidenced by the professional and thorough ongoing investigations being conducted by the lawful authorities,” it said.

The daily’s front page also carried a note from its publisher saying that they had “a public duty to find and report the truth”.

“After this report, which could be our last, we will hand over everything we have to the authorities investigating 1MDB and assist in any way we can,” it read.

The Home Ministry had on July 1 issued a show-cause letter to the financial daily over its reports on 1MDB. The Edge has stood by its reports.

Home Minister Datuk Seri Dr Ahmad Zahid Hamidi had previously said that The Edge Media Group owner Datuk Tong Kooi Ong should be held responsible for “inaccurate reports” on 1MDB.