1MDB yet to appoint auditor, case with IPIC ongoing

KUALA LUMPUR: Treasury secretary-general Tan Sri Irwan Serigar Abdullah today said that 1Malaysia Development Bhd (1MDB) is yet to appoint an auditor, and that its arbitration case with International Petroleum Investment Company (IPIC) is still ongoing.
"We are going to appoint an auditor soon," he told reporters at the sidelines of Malaysia Venture Capital Management Bhd's signing ceremony earlier.
Irwan, who sits on 1MDB's board, was responding to questions about the status of the state-owned fund's financial statement for the year ended March 31, 2015, which was supposed to be submitted by Sept 30, 2016 after two extensions.
He declined to comment on other questions related to 1MDB, saying only that there is no outcome yet on the arbitration case between 1MDB and IPIC.
 "We are still waiting. Let us see what happens. There is still no outcome yet," Irwan said.
At an earlier event he had also refuted a report by the Financial Times alleging that China will assist 1MDB in repayments to IPIC.