WSJ offered nothing new in latest article: 1MDB

PETALING JAYA - 1Malaysia Development Bhd (1MDB) says a recent article published by the Wall Street Journal contained "old and recycled" allegations against the company.

"The allegations are simply a regurgitation of old claims carried by the Wall Street Journal (WSJ) in September, which it has re-written and re-published without offering any new information or evidence," the firm said in a statement yesterday.

"It is interesting that Opposition leaders and certain publications re-published and commented on this latest article barely minutes after it was published, raising questions as to whether this is part of a broader orchestrated campaign against 1MDB."

1MDB raised doubts over the article being published at a time when the firm was making progress with its rationalisation process, with a successful Share Sale and Purchase Agreement with CGN Group, and the impending selection of a preferred development partner for its Bandar Malaysia project.

"With respect to 1MDB's past dealings with International Petroleum Investment Company (IPIC), the two companies continue to enjoy a strong business relationship," the statement read.

"This was reflected in the execution of a binding term sheet that saw IPIC assume obligation for a US$3.5bil (S$4.9 billion) bond principal and interest, currently held by 1MDB, and followed a US$1bil cash payment made by IPIC to 1MDB in June 2015."

1MDB said that IPIC had reaffirmed its commitment to partnering with the company via a statement in October, and had made interest payments on the bonds in October and November.