No contact from foreign investigators, says 1MDB

Kuala Lumpur

MALAYSIA's troubled strategic investment fund 1Malaysia Development Bhd (1MDB) has not been contacted by any foreign investigators over allegations of mismanagement and corruption, its president Arul Kanda told Reuters on Tuesday.

"In terms of the Swiss investigations or the Singaporean investigations or the FBI (Federal Bureau of Investigation) investigations, 1MDB has not been contacted by any of those authorities," said Mr Kanda, who was hired from Abu Dhabi Commercial Bank in January to conduct a strategic review of the state-owned fund, which owns mostly power and property assets. The fund, which has Malaysian Prime Minister Najib Razak as chairman of its advisory board, has amassed debt of more than US$11 billion, engulfing Mr Najib in a political storm amid allegations at home and abroad of graft and financial mismanagement at the fund. 1MDB has denied all the allegations.