The Public Accounts Committee had conducted a comprehensive investigation on 1Malaysia Development Bhd and presented its findings to Parliament, chairman Datuk Hasan Arifin said.
Following a call to reopen the probe into the state investment firm, he added that all PAC members had reached a consensus on the report before it was presented to other federal lawmakers.
“Furthermore, the matters presented by the PAC in its report on the management and administration of 1MDB was covered by the mass media and news portals both locally and abroad.
“The PAC summary in the report clearly asked the relevant authorities to take stern action against the 1MDB management,” he said in a statement today.
Earlier today, PAC member Tony Pua walked out of a committee meeting after Hasan declined the former’s request to reopen the investigation on 1MDB based on a civil lawsuit by US authorities to recover over US$1 billion in assets obtained with funds allegedly misappropriated from the Malaysian firm.
The PAC released its final report on 1MDB in April, after almost a year of proceedings and interviews with dozens of government and company officials, including its CEO Arul Kanda Kandasamy.
Among its findings, PAC said that the 1MDB board of directors had failed to ensure the fund’s management complied with good accounting practices.
The PAC in its report also urged the authorities to investigate former 1MDB CEO Datuk Shahrol Azral Ibrahim Halmi over weaknesses in the company’s management.
The Malay Mail Online