Friday 29 Mar 2024
By
main news image

KUALA LUMPUR (June 26): 1Malaysia Development Bhd (1MDB) said today the company had yesterday appointed Datuk Asri Hamidon as chairman. 1MDB said today it also formed a new executive committee (exco) to manage the company.
  
"The board of directors of 1MDB would like to announce the appointment of Asri as the new chairman of the company, effective 25 June 2018. He is also currently the deputy secretary-general overseeing government investment at the Treasury.

"Additionally, 1MDB has formed a new exco with Datuk Mohammad Faiz Azmi, Datin Rashidah Mohd Sies and Datuk Wan Mohd Fadzmi Wan Othman as members. The exco has been entrusted by the board of directors to manage the day-to-day running of the company," 1MDB said in a statement today.

In a separate statement, 1MDB said its financial statements for financial years ended March 2010, 2011 and 2012 audited by KPMG did not provide a true and fair assessment of the company.

1MDB said : "The board of directors of 1MDB would like (to) announce that we have received a letter dated 8 June 2018 from KPMG, which was the company’s auditors for the financial years of 2010, 2011 and 2012. In the letter, KPMG advised us that 1MDB “should immediately take all necessary steps to prevent any further or future reliance” on the three audit reports for the financial years ended March 2010, 2011 and 2012."

"According to KPMG, they reached the above decision after going through the recently declassified Auditor General’s report on 1MDB and other relevant documents that were withheld from them by the previous management of the company. If the documents had been disclosed to the auditors, KPMG believed the information would have materially impacted the financial statements and the relevant audit reports,” 1MDB said.

According to 1MDB, KPMG has advised 1MDB that 1MDB should notify the relevant authorities on the latest status of the audit reports.



 

      Print
      Text Size
      Share