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PAC to start probe on 1MDB on May 19

The PAC has decided not to wait for the auditor-general to complete its audit because of the many controversies linked to 1MDB.

The PAC has decided not to wait for the auditor-general to complete its audit because of the many controversies linked to 1MDB.

Syndicated News
Written by Syndicated News

KUALA LUMPUR — May 11, 2015: The Public Accounts Committee will begin investigations into 1Malaysia Development Bhd (1MDB) on May 19.

Among those to be called are the Ministry of Finance Secretary-General Tan Sri Irwan Serigar Abdullah and the Director-General of the Economic Planning Unit of the Prime Minister’s Department Datuk Seri Dr. Rahmat Bivi Abdullah.

On May 26, PAC will call current 1MDB chief executive officer Arul Kanda Kandasamy and his predecessor Datuk Shahrul Ibrahim Halmi who served the company between March 2009 and March 2013.

Chairman Datuk Nur Jazlan Mohamed said the PAC was unanimous in its decision to begin its own investigation against 1MDB after a special meeting on April 30.

“All PAC members comprising eight Barisan Nasional and five opposition members of parliament were unanimous in agreeing to call all the stakeholders involved in the management of 1MDB since its inception in 2009.

“We will begin by calling the Treasury’s secretary-general and EPU director-general who have appeared twice before the PAC in 2012,” said Nur Jazlan.

Letters were sent to the MOF and EPU on May 6 and based on parliamentary procedures and powers given to the PAC, all stakeholders must appear
before the committee.

According to Nur Jazlan, the EPU replied to the letter to say that it was not involved in any of 1MDB’s business decisions.

However, Nur Jazlan said representatives from the EPU must appear before the PAC, as they had twice before this, to explain 1MDB’s investment
decision involving the plot of land at the Tun Razak Exchange and Bandar Malaysia in Sungai Besi.

“We sent another letter to the EPU today to make sure they will be present on May 19,” said Nur Jazlan.

Nur Jazlan added that the PAC can no longer wait for the report by the auditor-general as there has been too much speculation by the public over 1MDB’s financial position.

He expressed the hope that all parties would give their full cooperation during the investigations to ensure that the negative perception against the firm could be corrected. — Bernama

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