The police are currently not investigating the UK-based company PetroSaudi International, said the inspector-general of police Khalid Abu Bakar.

This is because the police had not received any police report about alleged wrongdoings by the company in Malaysia, he said.

“Following enquiries from various parties, it is hereby confirmed that the police has not received any police report about misappropriation by PetroSaudi in Malaysia to enable the police to conduct investigations on the company.

“Therefore, any speculation on this issue should stop immediately,” he said in a statement today.

It is unclear what allegation that Khalid ( photo ) is referring to.

PetroSaudi had previously gone on a joint-venture with state investment fund 1MDB in 2009, but the partnership was dissolved months later.

Controversially, 1MDB had invested US$1 billion in the joint-venture vehicle, but US$700 million of it was supposedly channelled to another company.

Maintains investment was returned

Critics such as Petaling Jaya Utara MP Tony Pua and former premier Dr Mahathir Mohamad ( photo ) had consistently urged 1MDB to explain what happened to 1MDB’s investment.

In response, the company maintains that the investment was returned as US$1.1 billion in ‘ fund units ’ held in a Singaporean bank.

In an unrelated development yesterday, former PetroSaudi executive Xavier Andre was sentenced to three years in jail by a Thai court for attempting to blackmail his former employer.

This was after he reportedly pleaded guilty in a closed-door court hearing for blackmailing with threats that we would divulge confidential company information.

Among those who received the information was The Edge Media Group chairperson Tong Kooi Ong, whose two publications The Edge Financial Daily and The Edge Weekly has been suspended over its reports about 1MDB.