PKR has called for an independent inquiry to be set up as soon as possible to probe the allegations concerning 1MDB and Prime Minister Najib Abdul Razak.
If need be, PKR president and opposition leader Dr Wan Azizah Wan Ismail said, an audience would be sought with the Yang di-Pertuan Agong to iron out the details.
This follows a Wall Street Journal report that US$700 million of 1MDB funds had been transferred into bank accounts allegedly belonging to Najib.
"The prime minister has no other option and must wait no longer. He must immediately issue an immediate, specific and credible response to these very serious allegations.
"The prime minister must also declare his assets publicly in a sworn statement," Wan Azizah added.
PKR Bukit Batu assemblyperson Jimmy Puah ( photo ) also called on Najib to answer the latest allegations, which he described as "earth-shattering shocking".
"If the content of the report is true, then Najib could be the first prime minister in Malaysian history to be probed, charged and convicted of Criminal Breach of Trust (CBT) or offences under the Malaysia Anti-Corruption Commission Act 2009.
"I think the prime minister owes Malaysians an explanation," Puah said in a statement.
The Johor PKR deputy chief said it was "disheartening to note" that the report claimed that the relevant documents have been in the Malaysian law enforcement agencies' possession.
"Perhaps this would be an appropriate time for the attorney-general (AG) to break his silence on this matter," he added.