1Malaysia Development Berhad (1MDB) President and Group Executive Director Arul Kanda Kandasamy said that there have been two key developments on the company that it is no longer possible for him to engage with YB Tony in a debate.

Arul said he is now assisting police on the matter and also resolving the public dispute between 1MDB and the International Petroleum Investment Company (IPIC).

"I am now fully focused on assisting PDRM, and resolving the IPIC dispute. As such I cannot engage in a debate which may prejudice 1MDB's legal position in relation to the investigation and the dispute," he said in a statement today.

Arul Kanda is referring to the debate challenge issued by Petaling Jaya Utara Member of Parliament Tony Pua on April 14 which he accepted about a month ago.

"There have been two key developments that mean it is no longer possible for me to engage with YB Tony in a debate.

“One was due to the recommendations by the bi-partisan Public Accounts Committee (PAC), which Pua is a member of, and PDRM has expanded its investigations into 1MDB.

"PDRM has formed a special task force to investigate the PAC findings on 1MDB," he said.

The other development was that 1MDB is in a public dispute with IPIC, he added.