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PNB Denies Buying Sukuk Bonds From 1MDB

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PETALING JAYA: Permodalan Nasional Berhad (PNB) has denied claims that it has bought sukuk bonds from the debt-ridden 1Malaysia Development Berhad (1MDB).

In a brief statement issued Wednesday, PNB also said it has not received any offers from the Government investment arm.

“PNB is not involved in the purchase of sukuk bonds issued by 1MDB. PNB was also never offered any bonds from the company,” said the country’s leading asset managers.

On Tuesday, PKR vice-president Rafizi Ramli said both PNB and Lembaga Tabung Haji bought the Islamic bonds from 1MDB worth RM1.5bil, based on a report in The Star last year.

“Since Tabung Haji had admitted that it bought RM920.8mil worth of sukuk from 1MDB, this can only mean PNB had bought the remaining RM579.2mil,” he reportedly said.

He said the bonds were issued in their attempt to relocate military assets from Sg Besi base camp as part of phase one of Bandar Malaysia project.

In an immediate reaction, Rafizi, who is also PKR’s secretary-general and Pandan MP asked why it took them long enough to deny the purchase as the news report was made last year.

“If PNB never made the purchase, why are they only denying it now at the height of 1MDB controversy?” he wrote in his blog,, Wednesday.-The Star


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