KUALA LUMPUR (April 28): The Wall Street Journal (WSJ) said today that it stood behind its "fair and accurate reporting" on the appointment of Bank Negara Malaysia's new governor.

Yesterday (April 27), Prime Minister Datuk Seri Najib Tun Razak announced Datuk Muhammad Ibrahim's appointment as the new governor of Bank Negara effective May 1. Muhammad Ibrahim is currently Bank Negara Deputy Governor.

Muhammad Ibrahim, whose five-year term as Bank Negara Governor starts this Sunday (May 1), will replace Tan Sri Dr Zeti Akhtar Aziz.

The WSJ, quoting a Malaysian Cabinet minister and senior commercial banker, reported on March 11 this year that treasury secretary-general Tan Sri Dr Mohd Irwan Serigar Abdullah was expected to be appointed as Zeti's successor.

"The move comes over the objection of the current central bank governor, Zeti Akhtar Aziz, who is retiring next month (April 2016), after 16 years in the post and recommended a deputy governor to succeed her, one of the people said," the WSJ reported.

Today, a spokeswoman for Dow Jones & Co, which owns WSJ said: "We stand behind our fair and accurate reporting of this evolving story, which has in no way been undermined by recent events, and remain committed to providing robust coverage of events in Malaysia."

Dow Jones' statement followed a statement yesterday by Najib's press secretary Datuk Seri Tengku Sariffuddin.

Sariffuddin alleged WSJ had misreported on the appointment of Bank Negara's new governor. Sariffuddin claimed that WSJ's "total disregard for the facts in its reporting on Malaysia have been proven again", following its report on the matter.