Only A-G’s final report on 1MDB will be tabled in Parliament

KUALA LUMPUR: The Auditor-General’s interim report on its probe into 1Malaysia Development Bhd (1MDB) will not be made public.

Public Accounts Committee (PAC) chairman Datuk Nur Jazlan Mohamed said this was because it was merely an interim report and not subject to public scrutiny.

“The A-G informed us that the interim report will be completed by the end of June.

“The committee will consider the report when it is presented to us but it will not be made public,” he told reporters at a press conference in Parliament yesterday.

He said that only the A-G’s final report on 1MDB would be tabled in Parliament.

Asked if there was a time-frame for the A-G to present the interim report to the by-partisan committee, Nur Jazlan answered no but hinted that it could be done in early July.

“The A-G’s final report will form part of the PAC’s findings which will be tabled in Parliament,” he added.

He said the committee would proceed with its investigations as scheduled and would be calling 1MDB’s auditor KPMG to testify on June 17.

Last week, another 1MDB auditor, Deloitte, was called to testify before the committee over the sovereign fund’s accounts for the financial year ending March 31, 2014.

Called to testify before the committee in early August were 1MDB president and group executive director Arul Kanda Kandasamy and former chief executive officer Datuk Shahrol Halmi.

Both men were supposed to have appeared before the PAC on May 26 but were unable to do so due to engagements abroad.

In early March, Prime Minister Datuk Seri Najib Tun Razak ordered the A-G to start an independent probe into 1MDB, which has accrued about RM42bil in debts.

He pledged that the company would face legal repercussions if any wrongdoing was proven.

In Dewan Rakyat, Second Finance Minister Datuk Seri Ahmad Husni Hanadzlah said 1MDB had to fork out between RM2.4bil and RM2.7bil a year in interests for its RM42bil loan.

“Based on loans amounting to over RM40bil, the interest should be between RM2.4bil and RM2.7bil a year. That is why we want to reduce the yearly interest payment,” he told Hanipa Maidin (PAS – Sepang) during debate for the 11th Malaysia Plan.

On why 1MDB’s international auditor Deloitte had yet to be appointed to inspect the company’s accounts for the financial year ending March 31 this year, Ahmad Husni said this was being carried out in stages.

“The 1MDB has many subsidiaries. Deloitte is auditing 1MDB subsidiary Edra Global Energy Bhd first.

“Others will be audited later,” he said, adding that the holding companies were being probed by the Auditor-General.