PM: No missing RM42bil as claimed by Mahathir

KUALA LUMPUR: The PAC report on 1MDB shows that RM42bil is not missing from the company as alleged by former prime minister Tun Dr Mahathir Mohamad, said Datuk Seri Najib Tun Razak (pic).

Najib said it was now clear that allegations by Dr Mahathir against 1MDB were motivated by personal interest, “not the national interest, and a desire to unseat the Government”.

The Prime Minister added that besides showing the allegations by Dr Mahathir was false, the re­­port identified weaknesses in 1MDB’s capital structure and ma­­na­gement.

“We will study and act on the recommendations in the report,” he said.

“We must ensure that lessons are learnt, and action will be taken if any evidence of wrongdoing is found,” he added in a statement commenting on the report.

Najib said he instructed the Cabinet in March 2015 to ask the Auditor-General to conduct an independent investigation into 1MDB’s financial accounts, after the multiple serious allega­­­­­­­­­­­­­tions against 1MDB, such as Dr Mahathir’s claim that RM42bil had gone missing.

“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,” he said.

Najib said that after an exhaustive process, the PAC yesterday released a report with its findings to Parliament.

“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 RM42bil is not missing from 1MDB, as had been alleged by Dr Mahathir,” he said.

Najib also said the Government would continue to focus on “our economic plan and strength­en­­­ing the economy, which has con­ti­­­­n­­­­u­­­­­e­­d to show resilience in the face of global challenges”. — Bernama