KUALA LUMPUR: Prime Minister Datuk Seri Najib Razak today clarified that 1Malaysia Development Bhd (1MDB) has not entered into any agreement with US private equity firm DuSable Capital Management LLC in Kedah.
In a written reply at the Dewan Rakyat today, Najib, who is also Finance Minister, said: "1MDB has never signed any sort of agreement with DuSable Capital Management LLC in Kedah."
The prime minister was replying to a question by Wong Chen (PKR - Kelana Jaya).
Wong Chen had asked for the latest statement on 1MDB's supposed solar power plant project with Dusable Capital Management LLC in Kedah.
According to documents filed with the US Department of Justice last year, the US private equity firm DuSable Capital Management LLC said 1MDB will work together on the country’s largest 50MW solar farm in Kedah.
DuSable in the documents had claimed that it will be the investment adviser to a private equity fund in which 1MDB will be a limited partner.
It also said 1MDB would reimburse costs incurred by DuSable arising from the development of the project and associated activities, the filing said.