KUALA LUMPUR (April 7): 1Malaysia Development Bhd (1MDB), in its immediate response to the Public Accounts Committee's (PAC) report, denied allegations that billions of dollars had gone missing from the company.

In a statement today, Government-owned 1MDB said allegations in the Wall Street Journal (WSJ) report was "an outright lie".

"This is an outright lie as at no point in the (PAC) report is it suggested that any funds have gone missing from 1MDB nor is there any reference to a criminal probe.

"Rather, the report recommends that enforcement agencies conduct an investigation into some of the company's former management," 1MDB said.

1MDB said it implored WSJ "to immediately remove this misleading and false statement".

WSJ, quoting the PAC report which included the Auditor-General's findings, reported today a Malaysian Parliament inquiry found that billions of dollars had gone missing from 1MDB.

WSJ reported that the inquiry team also recommended that 1MDB's senior management should face criminal investigation.