Manila: The Maharlika Investment Corporation (MIC) has firmly refuted reports linking it to a financier involved in Malaysia’s infamous 1MDB scandal. The corporation described these reports as ‘false and misleading,’ emphasizing that they threaten its reputation and integrity.

According to Philippines News Agency, MIC issued a statement addressing claims by several online outlets, including SarawakReport.org, which suggested that British businessman Patrick Mahony was acting as an ‘advisor’ to the corporation. Sarawak Report, known for its investigative journalism on environmental and corruption issues in Malaysia, was specifically mentioned as the source of these claims.

MIC strongly denied these allegations, stating, “MIC categorically denies these claims, and clarifies that Mr. Mahony has not been and has never been engaged by MIC in any capacity, whether formal or otherwise.” The corporation asserted its operations adhere strictly to legal mandates and are overseen by a board and management team composed of ‘highly qualified professionals’ in investment and legal fields, who prioritize integrity, competence, and accountability.

The corporation emphasized that all investment decisions follow a rigorous and transparent process, ensuring alignment with national objectives and global best practices. MIC urged Sarawak Report and other media outlets to retract or correct the story and to verify information with official MIC sources before publication.

In its warning to the public, MIC cautioned against ‘unverified, misleading, or politically driven disinformation.’ The corporation reiterated its commitment to managing and investing the fund’s assets responsibly for the benefit of the Filipino people.