All funds from 1Malaysia Development Bhd went to Petrosaudi-owned entities, any other inference is false

PetroSaudi International has stated categorically that all funds from 1Malaysia Development Bhd (1MDB) went to Petrosaudi-owned entities and any other inference is false.

images

The company said this in response to certain media reports that it claimed, had made malicious and harmful allegations, in respect of its partnership with 1MDB.

“Upon 1MDB’s exit, PetroSaudi had paid 1MDB in full and both parties no longer have any financial or legal relationship,” the privately-owned oil exploration and production company, said in a statement Sunday.

PetroSaudi also said it was seeking legal advice on the appropriate course of action to address the malicious and slanderous allegations, and did not specify which media reports it was referring to.

The company sought to clarify reports emerging from news portal Sarawak Report operated by political activist Clare Rewcastle-Brown.