1MDB today said it is still exploring options on what to do about a revelation by Abu Dhabi state firm, implying that 1MDB had made billions in payment to a false company.
“For an as yet to be determined reason, IPIC and Aabar are only now seeking to deny ownership of Aabar BVI or receipt of the payments.
”This will no doubt be the subject matter of further enquiry and discussion. 1MDB is exploring all its options in this regard,” it said in a statement.
It also insists that it did nothing wrong.
“1MDB is confident of its legal position in relation to the US$3.5 billion cash deposits paid to Aabar BVI. In this regard, the company will pursue all available avenues open to it,” it said.
Abu Dhabi state firm International Petroleum Investment Corporation (IPIC) yesterday told the London Stock Exchange that it does not own British Virgin Island registered Aabar.
1MDB had made payments to Aabar BVI for security deposits and cancellation of options, on confirmation by then IPIC managing director Khadem Al Qubaisi that Aabar BVI belongs to IPIC.
1MDB also ticked off Petaling Jaya Utara MP Tony Pua for calling for arrests over the issue.
It said the transactions happened between 2012 to 2014, and 1MDB audited financial statements for these years are in public record.
It also maintains that it will cooperate on all investigations.
“It is therefore wrong and unprofessional of (Pua) to personalise this issue by linking to (1MDB president) Arul Kanda (Kandasamy).
“It is clear that each of these transfers happened before Arul Kanda assumed his role at 1MDB, therefore he can only rely on what the company records show, in formulating his answers,” it said.
It said Arul Kanda has also succeeded in making major asset sales and repaid all short term debts, allowing the earlier cash-strapped investment firm with RM2.3 billion cash in the bank.
“The company has also recently repaid the RM950 million standby credit facility from the government of Malaysia. Even YB Tony has no choice but to admit this success, against all odds,” he said.
