Ex-PAC man: Take action against those who lied about 1MDB

  • Nation
  • Wednesday, 23 May 2018

Arul Kanda Kandasamy wants 1MDB's success to be measured through the realisation of the construction of its two mega projects, namely the Tun Razak Exchange and Bandar Malaysia.

PETALING JAYA: Former Public Accounts Committee (PAC) member Datuk Abdul Aziz Sheikh Fadzir has called on the Government to act against 1Malaysia Development Bhd (1MDB) chief executive officer Arul Kanda Kandasamy (pic) and the company's board members for issuing misleading statements to the committee.

In a statement on Wednesday (May 23), the Umno lawmaker said legal action must be taken against all those who made false statements to ensure that the integrity of the PAC and Parliament is preserved.

Abdul Aziz slammed Arul Kanda and the 1MDB board members for not telling the truth during PAC proceedings, stating that it was an "insult" to the committee and the Dewan Rakyat.

"Although I did not expect 1MDB and the Finance Ministry to hide the true facts of the company's financial standing, I am not at all surprised with Finance Minister Lim Guan Eng's revelation that the Government has already paid RM7bil to 'bail out' 1MDB," he said.

According to Abdul Aziz he never thought that the rationalisation plan would have succeeded throughout the duration of the proceedings.

As a former PAC member, he requested Lim to inform the rakyat what happened to 1MDB's investment through the Brazen Sky company, which is based in Hong Kong.

"At the time, PAC was told that over USD937mil (RM3.73bil) had been brought back, yet the balance was still in Hong Kong then. Thus, I request the Finance Ministry for certainty regarding the status of 1MDB money at Brazen Sky," said Abdul Aziz.

He also voiced hope that Lim would reveal the true status of the 1MDB deposit with Aabar BVI totalling USD2.55bil (RM10.15bil), as it was categorised as "collateral" for the Aabar PJS guarantee and compensation for the termination of options for the purchase of independent power producers (IPP).

'This is because the rakyat should get the real explanation regarding the status of 1MDB deposit money and also the RM3.5bil loan guaranteed by IPIC (Abu Dhabi's government-owned International Petroleum Investment Co).

"I also hope that Lim will get information from 1MDB on what happened to the USD1.5bil (RM5.97bil) which 1MDB invested through an European company in the Middle East.

"This is because the PAC, which received information regarding the investment, is very suspicious as to whether the investment actually happened or not," he added.

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3

Did you find this article insightful?


Across the site