WSJ didn’t have ‘decency’ to name source of latest allegations, says 1MDB

The Wall Street Journal does not have the 'decency' to name the source behind its latest allegations that a further US$993 million of supposed payment made by 1Malaysia Development Berhad (1MDB) to Abu Dhabi-based IPIC Investments is missing, says 1MDB. – Reuters pic, September 18, 2015.

The Wall Street Journal (WSJ) did not have the "decency" to name the source behind its latest allegations that a further US$993 million (RM4.18 billion) of supposed payment made by 1Malaysia Development Berhad (1MDB) to Abu Dhabi-based IPIC Investments is missing, the state development fund said today.

1MDB, yet again, described the WSJ report as "malicious", similar to a response it issued when WSJ made the first allegation about a US$1.4 billion payment that allegedly went missing.

This was the second report on missing 1MDB payments within the space of two weeks by WSJ.

"Given the severity of the unproven allegations, the malicious insinuations made and the impact on the 1MDB rationalisation plan, we would have expected at the very least that the Wall Street Journal would have the decency and courage to name its source and/or provide proof," it said in a statement today.

"This inability to substantiate clearly shows the shallow nature of its assertions and casts serious doubt on whether or not the Wall Street Journal editors themselves believe in the weak story, cobbled together by its reporters," it added.

1MDB had maintained before that its financial statement signed off by auditors accounted for the allegedly missing US $1.4 billion, and again today insisted that its audited accounts clearly described "source of funding and purpose of payments."

"1MDB can confirm that pursuant to the payment made by 1MDB, the options were in fact terminated," it said.

"In fact, 1MDB and its relevant subsidiaries were released and discharged from all agreements, options, covenants, conditions and stipulations on their part under the options and that any rights by any other party towards the options were relinquished and terminated," it added.

- TMI