PKR secretary-general Rafizi Ramli said that AmBank Group’s statement denying that its managing director Ashok Ramamurthy quit his post over irregularities in a multi-billion ringgit loan to 1Malaysia Development Bhd (1MDB) is “expected”.

 

While he appreciates that AmBank cannot disclose internal matters, he said it is more important for Bank Negara Malaysia to reveal its findings.

 

“The information came from a whistleblower who had helped us with 1MDB before and so far the information has been accurate.

 

“I don’t want to pick a fight with AmBank. What’s more important is for Bank Negara Malaysia to reveal its findings (on AmBank’s 1MDB dealings) and its views on the debt level of 1MDB,” he said.

 

AmBank’s decision to “keep it in-house” also means that the audit non-compliance Rafizi had alleged earlier is likely “not criminal” in nature.

 

“Chances are it is not criminal but an audit non-compliance is definitely for BNM to flag out for a loan of RM2 billion.”

 

Rafizi yesterday claimed that Ashok and two other AmBank top officials resigned after BNM found irregularities in a compliance audit over a RM2 billion loan to 1MDB for the Bandar Malaysia project.

 

Last weekend, Sarawak Report published an stinging expose alleging that 1MDB had diverted US$700 million (RM2.5 billion) of an investment made as part of a joint-venture with little known PetroSaudi International to a company linked to money man Jho Low.

 

1MDB did not specifically respond to the US$700 million claim but said it has recovered the entire US$1 billion (RM3.63 billion) it invested in the now defunct joint-venture with the Saudi oil company with a profit of US$488 million (RM1.77 billion).

 

Meanwhile, PetroSaudi said all the funds from 1MDB went to PetroSaudi firms and no other parties.

 

Low has yet to respond to Malaysiakini’s query.