“1MDB is disappointed that Tan Sri Zeti appears to single out 1MDB for the current weakness of the ringgit”, said the statement.
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“Historically, never once has one company been linked in such a way to the value of the ringgit”, it said.
1MDB, whose advisory board is chaired by PM Najib, came under the spotlight past year due to its rising debt, drawing criticism from opposition law makers and calls for him to step down.The value of the firm’s assets exceeds its debt, according to an e-mailed statement from the company today.
Furthermore, it said Dr Zeti would be aware that 1MDB had consistently met, with no default, its interest service and principal repayment obligations, to both foreign and domestic lenders.
“They (the ongoing investigations) are going to yield an outcome”, Bank Negara Malaysia chief Zeti Akhtar Aziz said at an event in the capital city organised by government think-tank Pemandu. “We trust that the facts shared by 1MDB and the immediate clarifications issued to date, will provide clarity and assurance to all concerned parties”.
The Ringgit – the worst-performing Asian currency this year – has been hit by falling oil prices as well as increased instability in the domestic and worldwide environment.
The central bank has submitted the results of its investigation into 1MDB to the Attorney General.
Zeti also said the public has the right to get answers to the controversy surrounding 1MDB and the RM2.6 billion donation made to Najib’s private bank accounts for the sake of greater transparency in governance.
The ringgit came under further pressure yesterday after The Wall Street Journal reported that the US Federal Bureau of Investigation launched an investigation into allegations of money laundering at 1MDB.
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At the same forum, Zeti also said that Malaysia needed to build its own strength and resilience to ride out the patch of uncertainties in China and the United States, as factors affecting the ringgit were largely driven by global economic developments – particularly these two powerhouses. “There is no place in this planet that anyone can hide in because the world has come together to track down any irregular activities”.
