KUALA LUMPUR, Sept 8 ― 1Malaysia Development Berhad (1MDB) today claimed that they did not snub requests by former advisory board member Tan Sri Samad Alias for briefings on the state-owned investment firm’s finances.
The firm said Samad would have had full access to its audited financials, apart from various 1MDB Board members including its president and group executive director Arul Kanda Kandasamy, if he had made such a request during his time on the advisory board.
“However, 1MDB did not receive any 'repeated requests' for information as claimed by Tan Sri Samad,” the company said in a statement.
Yesterday, Samad ― a former president of both the Malaysian Institute of Accountants and the Malaysian Institute of Certified Public Accountants ― reportedly said that he decided to quit 1MDB's advisory board after the firm allegedly ignored his requests to be briefed on its finances.
Samad, who said he tendered his resignation on July 29, claimed he had waited six months to be briefed on the company's profits and losses, to no avail.
The news prompted CIMB Chairman Datuk Seri Nazir Razak to say earlier today that Samad's resignation over the purported lack of access to information sends a negative signal to other corporations in the government’s stable.
1MDB today said they “regret to note” Nazir's statement on the issue, saying that third parties “who have no direct knowledge of the facts” are issuing “speculative opinions” based on Samad's statements yesterday.
The firm stressed that Arul Kanda had personally met Samad in January and March this year “to discuss the company's affairs”, including details of their strategic review and rationalisation plan which covered the extent of future debt and interest obligations and “a discussion on proposals to address the key issues facing the company”.
“It is, however, important to 1MDB that we properly address the concerns raised by Tan Sri Samad.
“In addition to regularly issuing public updates on the progress of the 1MDB rationalisation plan, the 1MDB Board of Directors has today sent a letter to Tan Sri Samad to seek a meeting with him to discuss and clarify any outstanding concerns,” the firm said.