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1MDB delays filing accounts, cites docs held by investigators
Published:  Oct 2, 2015 11:43 AM
Updated: 3:53 AM

1MDB was unable to meet the Sept 31 deadline to file its accounts for the financial year ending March 31, 2015 and asked for an extension.

According to The Edge Financial Daily , 1MDB was granted a six-month extension to file its accounts by the Companies Commission of Malaysia.

This was revealed by 1MDB president Arul Kanda, who said two of 1MDB's subsidiaries are also seeking for up to a month's extension to file their annual audited accounts.

1MDB said the delay was due to it not being in possession of key documents of its financial accounts after they were carted away by investigators in a raid on 1MDB's office in July.

The investigators were probing deposits of RM2.6 billion into Prime Minister Najib Abdul Razak's personal bank accounts.

"The accounts are ready, we just need to provide additional documentation," Arul was quoted as saying, adding that Deloitte was conducting the audit.

1MDB is struggling to repay its US$11 billion in debt which has ballooned to over RM48.5 billion due to the weakening ringgit.

1MDB is owned by the Finance Ministry which is headed by Najib.

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