Friday 29 Mar 2024
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KUALA LUMPUR: 1Malaysia Development Bhd (1MDB) cannot disclose all of its payments of interest and the principal payments made for each of its debts and bonds from January 2015 onwards because the accounts have yet to be audited, Prime Minister Datuk Seri Najib Razak told Parliament yesterday.

“The details asked by the Member of Parliament (MP) [Rafizi Ramli] are details that have not been submitted. It has been a practice by the company (1MDB) to submit only details that have been audited to the public so the information given is accurate, in-depth and verified by the auditor,” Najib, who is the finance minister, said in his written reply to a parliamentary question by the Pandan MP.

Rafizi had also asked Najib to specify the details of the debts and bonds according to the month paid, the amount paid, and to whom.

It was reported that 1MDB’s accounts are audited by international audit firm Deloitte and that it had signed off 1MDB’s 2013 and 2014 accounts without qualification.

Similarly, KPMG had also signed off the 2010, 2011 and 2012 accounts with no qualification, said 1MDB.

Najib, who is also chairman of 1MDB’s advisory board, was recently accused of not telling the complete truth when he told Parliament that money held by the strategic development company was being kept in Singapore.

 

This article first appeared in The Edge Financial Daily, on May 26, 2015.

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