KUALA LUMPUR — April 7, 2016: The Public Accounts Committee report on 1Malaysia Development Berhad released in Parliament today proves that an amount of RM42 billion did not go missing from the company as alleged by former prime minister Tun Dr. Mahathir Mohamad.
Besides proving this, the report identified weaknesses in 1MDB’s capital structure and management.
“We will study and act on the report’s recommendations.
“We must ensure that lessons are learned and action will be taken if any evidence of wrongdoing is found,” said Prime Minister Datuk Seri Najib Razak said in a statement commenting on the report.
Najib said it was now clear that the allegations by Mahathir were motivated by personal interest, not the national interest, and a desire to
unseat the government.
Najib recalled that in March last year he instructed the Cabinet to ask the auditor-general to conduct an independent investigation into 1MDB’s financial accounts following multiple grave allegations against the company.
“To ensure that this was a transparent process, we also instructed that the findings be passed for review to the Public Accounts Committee – a bipartisan body that includes opposition parliamentarians.”
Najib said that after an exhaustive process, the PAC has today released its findings.
“This report represents a consensus by the PAC members and its findings are based on facts and hundreds of hours of reviews and investigations.
“I would like to thank the National Audit Department and PAC for producing a comprehensive, conclusive and definitive report.
“Having reviewed it, I note that the PAC’s report shows that RM42 billion is not missing from 1MDB, as had been alleged by Tun Mahathir,” he said.
Najib assured that the government would continue to focus on “our economic plan and strengthen the economy, which has continued to show resilience in the face of global challenges”. — Bernama