KUALA LUMPUR: 1Malaysia Development Bhd (1MDB) said yesterday it had submitted all necessary documents relating to its business deals to the relevant authorities.

“All evidence and proof relating to 1MDB’s business and financial transactions have been shared with independent auditors and Malaysia’s lawful authorities,” it said in response to a blog posting by former prime minister Tun Dr Mahathir Mohamad yesterday.

“These authorities can then take action accordingly, per due process, and the laws of our country,” it added.

On his blog, Dr Mahathir asked 1MDB to show proof of documents after the strategic development company replied to the former premier's criticisms of 1MDB's dealings, saying they were all wrong.

Dr Mahathir noted that for one, no Cabinet paper was presented on the issuance of a government guarantee RM5 billion sukuk by the Terengganu Investment Authority.

“[And] if the loan is not off-budget, then show in the government’s yearly budget provision for raising the loan. There is none.

“There is written evidence about Goldman Sachs terms for the bond issue. Show that Goldman Sachs or Ambank did not impose [a] high interest rate and 10% commission on the loan. Don’t just say it is a secret,” said Dr Mahathir.

1MDB, meanwhile, said it remains fully focused on its rationalisation plan, which includes turning the Tun Razak Exchange and Bandar Malaysia into stand-alone companies.

It added that 1MDB's recent repayment of a RM3.6 billion loan to a consortium of international banks led by Deutsche Bank ahead of the deadline reflected the firm's commitment to reduce its debt levels.

This article first appeared in The Edge Financial Daily, on June 19, 2015.