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Najib: 1MDB Does Not Owe IPIC US$481mil

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KUALA LUMPUR: 1Malaysia Development Berhad (1MDB) does not owe International Petroleum Investment Company (IPIC) US$481mil (RM2.04bil), said Datuk Seri Najib Tun Razak.

In a written response to Tony Pua (DAP – Petaling Jaya Utara) on Tuesday, the Prime Minister said there was no such record in 1MDB’s financial report for the year ending March 2014.

“Notes in the 1MDB financial report for the year ending March 2014 clearly states that there is no such amount owed by 1MDB to IPIC.

“I also wish to state that it is the company’s prerogative to decide on their own methods of preparing their financial reports,” he said.

Pua had asked Najib, who is also Finance Minister, if the state investment arm still owed US$481mil as stated in the IPIC financial report for the year ending December 2014.

He had also asked the Prime Minister to state the amount paid by 1MDB to reclaim Powertek Investment Holding and 1MDB Energy (Langat) from Aabar Investment.

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