1MDB’s assets at fair value as at FY14

Long session: Tan and other deloitte executives leaving the inqury room. Inset Nur Jazlan heading the discussions yesterday.

KUALA LUMPUR: The inquiry by the bipartisan Public Accounts Committee (PAC) to the auditors of 1 Malaysia Development Bhd (1MDB) has revealed that RM13.4bil of 1MDB’s assets had been independently verified as of its financial year ended March 31, 2014 (FY14).

“Deloitte told us that they have seen the bank statements pertaining to the RM13.4bil of assets in BSI Bank. They can verify the value of the assets in question as they did a test on whether the assets were at fair value at that point in time for FY14,” PAC chairman Datuk Nur Jazlan said at a press conference after the inquiry.