Malaysia's 1MDB dismisses speculation on former adviser's resignation

1Malaysia Development Berhad (1MDB) denies it received "repeated requests" for information from a former member of its board of advisers.
1Malaysia Development Berhad (1MDB) denies it received "repeated requests" for information from a former member of its board of advisers.PHOTO: REUTERS

PETALING JAYA (THE STAR/ASIA NEWS NETWORK) - 1Malaysia Development Berhad (1MDB) denies it received "repeated requests" for information from a former member of its board of advisers and said the company's top executive met him twice to discuss company affairs.

In response to a remark by CIMB Group chairman Datuk Seri Nazir Razak on the resignation of the adviser recently, 1MDB said in a statement on Tuesday (Sept 8) that Nazir had no direct knowledge of the facts and his opinion was speculative.

It said 1MDB president and group executive director Arul Kanda Kandasamy had met Tan Sri Dr Abdul Samad Alias twice in January and March, where details of its strategic review and rationalisation plan were shared.

This included a slide presentation that showed the extent of future debt and interest obligations of the company, and a discussion on proposals to address the key issues facing the company, said 1MDB.

Dr Abdul Samad reportedly said he resigned as the 1MDB advisory board member after months of repeated requests for a briefing on 1MDB affairs were never entertained.

He then requested a briefing on 1MDB's affairs, particularly on its profits and losses, which he claimed he never was given access to.

He said he tendered his resignation on July 29.

Nazir had raised concerns about Dr Abdul Samad's allegation, and asked if it was true and tolerated, what message did it send to other Government linked companies and agencies.

1MDB, however, said that its audited financials were publicly-available documents and would most definitely have been able to share these with Dr Abdul Samad had such a request been made.

It said Dr Abdul Samad had the contact details of various 1MDB board members, including the mobile phone number of Arul Kanda.

"However, 1MDB did not receive any 'repeated requests' for information as claimed by Tan Sri Samad," the company said.