1MDB re­it­er­ates it did not lose any money

1MBD stresses that it has not lost any money and that the 104 mil­lion Swiss francs (RM430 mil­lion) held by the Swiss Fed­eral Trea­sury does not be­long to it.

New Straits Times - - FRONT PAGE - KUALA LUMPUR

1MALAYSIA De­vel­op­ment Bhd (1MDB) has re­it­er­ated that it has not lost any money and that the 104 mil­lion Swiss francs (RM430 mil­lion) held by the Swiss Fed­eral Trea­sury does not be­long to it.

1MDB said the amount in ques­tion could not be claimed by the firm nor the Malaysian gov­ern­ment.

“1MDB has stated and re­it­er­ates that it has not lost any money and all its monies are fully ac­counted for.”

1MDB said the money held by the Swiss au­thor­i­ties was ac­tu­ally a “disgorgement of profit” (fine) im­posed by the Swiss Fi­nan­cial Mar­kets Author­ity (FINMA) on cer­tain banks that had al­legedly breached laws in the coun­try.

Cit­ing Swiss Fi­nance Min­is­ter Ueli Mau­rer, 1MDB said the for­mer had re­vealed that the banks had dis­puted FINMA’s ac­tions and were ap­peal­ing in the Fed­eral Ad­min­is­tra­tion Court.

“Thus, the 104 mil­lion Swiss francs are be­ing claimed by the banks. It can­not be claimed by 1MDB or the Malaysian gov­ern­ment as the money does not be­long to 1MDB. FINMA has stated that only those ‘di­rectly dam­aged’ by the ac­tions of fi­nan­cial in­ter­me­di­aries in Switzer­land could claim a share of any fines and only through a le­gal process.”

It also said the mo­tion sub­mit­ted by Swiss mem­ber of par­lia­ment Carlo Som­maruga for cor­rup­tion funds to be repa­tri­ated to their coun­tries of ori­gin had been “ex­pressed in gen­eral terms and men­tions mul­ti­ple com­pa­nies and coun­tries”.

“It is not a mo­tion on 1MDB or Malaysia,” 1MDB said, adding that the Swiss Fed­eral Coun­cil had on Aug 30 last year is­sued an anal­y­sis of the mo­tion and pro­posed to re­ject the mo­tion.

On the let­ters sent by op­po­si­tion lead­ers Lim Kit Siang and Datuk Seri Dr Wan Az­izah Wan Is­mail to Swiss cab­i­net mem­bers, 1MDB said it was the right of the Swiss Na­tional Coun­cil to de­bate any mo­tion put be­fore it and make any de­ci­sion that its mem­bers deemed ap­pro­pri­ate.

Lim and Dr Wan Az­izah had sent let­ters urg­ing Swiss law­mak­ers to vote in sup­port of the mo­tion that is to be de­bated in the lower house. Vot­ing is ex­pected to take place to­mor­row.

The Fi­nance Min­istry, in a state­ment, re­futed al­le­ga­tions by Lim and Dr Wan Az­izah that 1MDB’s as­sets had been mis­ap­pro­pri­ated.

It said 1MDB had in­formed the min­istry that al­le­ga­tions of its as­sets be­ing em­bez­zled or mis­ap­pro­pri­ated do­mes­ti­cally or over­seas were not true and po­lit­i­cally mo­ti­vated.

The min­istry said to its knowl­edge, FINMA was in­ves­ti­gat­ing pri­vate banks in Switzer­land fol­low­ing com­plaints that the banks were flaunt­ing Swiss money laun­der­ing laws and il­le­gally prof­it­ing from bank­ing trans­ac­tions with­out car­ry­ing out ad­e­quate back­ground checks into busi­ness re­la­tion­ships and the trans­ac­tions.

“We were ad­vised that the 104 mil­lion Swiss francs ac­tu­ally rep­re­sents the to­tal amount in fines or penal­ties im­posed by FINMA on pri­vate banks for vi­o­la­tions of Swiss fi­nance and bank­ing laws,” it said.

“There­fore, the 104 mil­lion Swiss francs do not be­long to the Malaysian gov­ern­ment or any of its agen­cies or re­lated com­pa­nies.”

The min­istry said checks and au­dit con­ducted by Malaysian en­force­ment agen­cies — in­clud­ing the Public Ac­counts Com­mit­tee, Malaysian Anti-Cor­rup­tion Com­mis­sion, po­lice and the at­tor­ney­gen­eral — had not shown or de­tected any miss­ing funds from 1MDB.

“The min­istry finds it dif­fi­cult to take any po­si­tion to make a claim from the Swiss gov­ern­ment as the monies do not be­long to the Malaysian public, as al­leged by Dr Wan Az­izah and Lim in their let­ters to the Swiss mem­bers of par­lia­ment.”

Newspapers in English

Newspapers from Malaysia

© PressReader. All rights reserved.