PNB denies buying sukuk bonds from 1MDB

Permodalan Nasional Berhad says it did not purchase any sukuk bonds from 1MDB, neither did they receive an offer from the debt-ridden company. ― File pic
Permodalan Nasional Berhad says it did not purchase any sukuk bonds from 1MDB, neither did they receive an offer from the debt-ridden company. ― File pic

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KUALA LUMPUR, May 13 ― Permodalan Nasional Berhad (PNB) has denied an allegation that it  purchased sukuk bonds from state-owned 1Malaysia Development Berhad.

In a statement, PNB said that it did not purchase any sukuk bonds from 1MDB, neither did they receive an offer from the debt-ridden company.

“Permodalan Nasional Berhad (PNB) is not involved in the purchase of sukuk bonds issued by 1Malaysia Development Berhad (1MDB). PNB also did not receive any offer from 1MDB,” the government-linked company (GLC) said in a statement today.

Yesterday, PKR secretary-general Rafizi Ramli demanded Putrajaya explain what happened to some RM3.5 billion in funds raised by 1Malaysia Development Berhad through loans and Islamic bonds over the past four years for its Bandar Malaysia project.

In a press conference, Rafizi claimed that 1MDB had secured a RM2 billion loan from AmBank and issued RM1.5 billion in sukuk bonds privately to Lembaga Tabung Haji (LTH) and PNB to fund the development of Bandar Malaysia in Sungai Besi.

Last week, reports of LTH’s controversial land investment hit media headlines after it was revealed that it bought a plot of land in the Tun Razak Exchange (TRX) about a month back from 1MDB, which is currently saddled with a RM42 billion debt.

A blog called “The Benchmark” first raised speculation on the purchase when it published purported documents of the controversial transaction that critics now claim could be a bailout for 1MDB.

The expose sparked outrage among lawmakers from both sides of the political divide, including even Umno leaders like Tan Sri Muhyiddin Yassin, Datuk Seri Hishammuddin Hussein and Khairy Jamaluddin, and fueled concerns raised previously over 1MDB’s dealings.

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