A clarification will be made if The Star had indeed erred in it reporting on 1MDB, said MCA president Liow Tiong Lai today.

 

"We have said that we will never interfere with the editorial. I think whatever is reported, if there is any misreporting, then we will just clarify the misreporting.

 

"Every paper must be responsible for the statements it makes,” he told a press conference at Wisma MCA today when asked to comment on the state investment firm yesterday.

 

1MDB had chastised the MCA-owned daily for what it deemed   ‘sloppy reporting’ , and twice referred to The Star as a “regulated and licensed newspaper”.

 

“1MDB is concerned that a regulated and licensed newspaper such as The Star is presenting such unsubstantiated opinions as fact in its reporting.

 

“Further, it is a well-known fact that a number of lawful authorities are conducting investigations on 1MDB and no final determination has yet to be made,” it said.

 

1MDB was responding to The Star's report that quoted an unnamed source purported to be an investigator looking through 1MDB’s accounts, saying "even assets that are being held for sale cannot be easily liquidated".

 

The daily also claimed that "there was no document related to the existence of assets and valuation of PetroSaudi Holdings (Cayman)".

 

The company countered the first claim saying that its audited accounts for the financial year ending March 3, 2014 had described that US$1.22 billion (RM4.6 billion) had been liquidated and cash proceeds utilised.

 

As for the second claim, 1MDB said it was “blatantly incorrect”, saying that a valuation report prepared at the time the investment was made was submitted to the authorities.