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Malaysia's 1MDB says it has not been contacted by foreign authorities
May 24, 2016 / 10:01 AM / 2 years ago

Malaysia's 1MDB says it has not been contacted by foreign authorities

KUALA LUMPUR (Reuters) - Malaysia’s 1MDB said on Tuesday it has not been contacted by any foreign authority, after Singapore and Switzerland took action against a private bank for its dealings with the scandal-hit state fund.

A man walks past a 1 Malaysia Development Berhad (1MDB) billboard at the funds flagship Tun Razak Exchange development in Kuala Lumpur, March 1, 2015. REUTERS/Olivia Harris/File Photo

1Malaysia Development Bhd (1MDB) also said there was no impact from the Singaporean and Swiss announcements on its ownership of various assets.

“1MDB remains committed to fully cooperating with any foreign lawful authority,” 1MDB said in a statement.

Singapore ordered the local operations of BSI to close while Switzerland has started criminal proceedings against the private bank, in the biggest international action on financial entities that have had dealings with 1MDB.

Reporting by Praveen Menon

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