KUALA LUMPUR (Feb 3): Petaling Jaya Utara MP Tony Pua had today queried 1Malaysia Development Bhd (1MDB) on the status of the company's money and audited financial statements. This is because Malaysian government-owned 1MDB has yet to publish its annual reports for financial years ended March 31, 2015 (FY15) and 2016 (FY16).
Pua said in a statement today : "If all monies are indeed properly accounted for in 1MDB, why is it that 1MDB has failed to produce a single audited financial statement since March 2014 ?"
In November 2017, it was reported that the Finance Ministry could not determine when 1MDB's FY15 and FY16 annual reports would be completed because the police was still investigating 1MDB then. The ministry said in a parliamentary written reply dated Nov 16, 2017 that on July 8, 2015, the police seized various original documents from 1MDB’s office.
“1MDB’s management has contacted the police regarding the return of the company’s documents, but till today, the original documents haven’t been returned to the company. This makes the auditing process difficult, because auditors need to refer to the original documents to verify the financial report.
“1MDB’s auditors have begun the auditing process on the 2015 and 2016 financial years based on existing information. But the deadline to complete the audit cannot be ascertained because police investigations are still ongoing,” the ministry said in its parliamentary written reply.