KUALA LUMPUR: PetroSaudi International has stated categorically that all funds from 1Malaysia Development Bhd (1MDB) went to Petrosaudi-owned entities and any other inference is false.
The company said this in response to certain media reports that it claimed, had made malicious and harmful allegations, in respect of its partnership with 1MDB.
“Upon 1MDB’s exit, PetroSaudi had paid 1MDB in full and both parties no longer have any financial or legal relationship,” the privately-owned oil exploration and production company said in a statement today.
PetroSaudi also said it was seeking legal advice on the appropriate course of action to address the malicious and slanderous allegations, and did not specify which media reports it was referring to. –- Bernama
Meanwhile, in a separate statement, president and group executive director of 1MDB Arul Kanda said: "1MDB notes with concern certain claims carried by an online media portal concerning business arrangements 1MDB entered into with PetroSaudi. 1MDB exited the relationship in 2012, and received back its investment in full, with a profit of US$488 million.
“These facts, and all details related to this transaction, may be verified by reference to our audited accounts, which are publicly available on the Suruhanjaya Syarikat Malaysia website."