Political motivation behind reports about 1Malaysia Development Bhd’s investments and financial dealings

The Malaysian Prime Ministers’ Office has questioned the political motivation behind reports about 1Malaysia Development Bhd’s investments and financial dealings.

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“Views expressed by certain quarters concerning 1MDB should be examined in light of political motivation,” the PM”s Office said in response to the Sunday Times newspaper, which has carried reports about the troubled government-owned investment company together with the Sarawak Report web site.

The PM’s Office said “if any wrongdoing is proven, the law will be enforced without exception”; it added that the prime minister, Najib Razak, who heads the 1MDB board of advisors, does not run 1MDB’s day-to-day operations and that 1MDB’s accounts are audited by Delloite.

Sarawak Report published a series of six reports in collaboration with the Sunday Times with emails and documents relating to 1MDB’s investment in a joint venture with PetroSaudi, a little-known Saudi Arabian company owned by a son of the late Saudi King Abdullah.

Former prime minister Dr Mahathir Mohamad, who has been a strong critic of 1MDB, was quoted as saying: “Somebody must be doing something stupid to part with US$700 million for no very good reason as far as I can see.”