Hornbill Unleashed

August 10, 2016

PAC can’t keep investigating 1MDB, committee member says

Filed under: Politics — Hornbill Unleashed @ 9:01 PM

Abdul Aziz urged the government to act immediately on the report’s recommendations as delays have created a negative perception towards the government. ― Picture by Saw Siow FengAction based on the Public Accounts Committee’s investigation on 1Malaysia Development Bhd will yield more results than reopening the probe into the state investment firm, said Umno’s Datuk Abdul Aziz Sheikh Fadzir.

The PAC member said the committee had already performed its task with a thorough investigation, and it is for the police and the Attorney-General’s Chambers to act on its recommendations.

“The PAC has carried out its duties in the form of a comprehensive report, which the people need to read in detail, especially the Hansard that was attached with the report,” he said in a statement today.

“We had already asked all the important questions then.”

Abdul Aziz stressed that the public was still waiting for the police to complete its investigations and for the AGC to determine whether there was any wrongdoing.

He then urged the government to act immediately on the report’s recommendations as delays have created a negative perception towards the government.

However, he commended the Finance Ministry’s immediate compliance with the report’s recommendations.

“The step to change the board of directors, abolish Article 117 of the company’s Memorandum and Articles of Association on the prime minister’s powers and eliminating the board’s structure that places the PM as its head, are all accurate to the PAC’s recommendations,” he said.

On Monday, PAC member Tony Pua walked out of a committee meeting after chairman Datuk Hasan Arifin 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

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