KUALA LUMPUR (Dec 29): 1Malaysia Development Bhd (1MDB) lambasted the Wall Street Journal (WSJ) for its news report published earlier today, saying the article simply recycles unsubstantiated allegations against the beleaguered state fund that the US newspaper made in the middle of this year.

"The fact is that there is no real news in this article. For reasons best known to its management, the WSJ appears happy to have become a noticeboard for conspiracy theories and smears propagated by the Malaysian opposition," 1MDB said in a statement today.

"This is a sad state of affairs for its readers, who deserve better," it added.

1MDB was referring to a report titled 1MDB and the Money Network of Malaysian Politics, which had published a recap of the almost US$700 million from an undisclosed source that had entered Prime Minister Datuk Seri Najib Razak's personal bank accounts.

The company said the allegations made in the WSJ report are currently the subject of an extensive inquiry being conducted by multiple lawful authorities in Malaysia.

"Furthermore, as the newspaper itself admits several times in the article, no illegal activity is alleged to have taken place.

"We are, therefore, perplexed as to why the WSJ continues with this campaign to undermine 1MDB, and Malaysia, and urge it to focus on real news instead," it added.