1MDB’s announcement that its 2013 and 2014 audited financial statements should no longer be relied on is inconsequential, said Finance Minister II Johari Abdul Ghani.

He said this was because 1MDB has no outstanding debt with any local bank, nor would it use those accounts to apply for a bank loan.

“Before (this), there is a lot of implications because 1MDB has a lot of exposure with the banks in Malaysia; meaning that almost most banks in town – I think – 1MDB has exposure at that time.