Prime Minister Datuk Seri Najib Razak says 1MDB has assets and liabilities but there is no issue of RM42 billion having disappeared. – The Malaysian Insider pic, May 18, 2015.International auditors Deloitte & Co would not have signed 1Malaysia Development Bhd's (1MDB) accounts if they discovered RM42 billion was lost by the debt-laden government-owned strategic investor, Datuk Seri Najib Razak told a group of former Barisan Nasional lawmakers today.
Deloitte is 1MDB's third auditor since it was set up in 2009 to spearhead development in strategic sectors. 1MDB's main business is property development and utilities such as power and water plants.
"There isn't any RM42 billion that has disappeared because the accounts were audited by Deloitte," the prime minister told Mubarak, an association of former lawmakers at the Umno headquarters in Kuala Lumpur.
"Auditors will not sign if even RM1 million is missing.
"Now it is said that RM42 bilion has vanished. How can it vanish? It hasn't vanished, there are assets, there are liabilities," the Umno president said.
"If we have a formula, we can solve this issue.
"But if we politicise, things that are good will be bad, he said at the "Evening with President" event.
- TMI
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