PAC says Bank Negara land deal connected to 1MDB rationalisation plan done hastily, no proper due diligence

KUALA LUMPUR: A RM2.07bil land deal involving Bank Negara in connection with a rationalisation plan involving 1Malaysia Development Berhad (1MBD) in 2017 was done hastily and without proper due diligence, says the Public Accounts Committee (PAC).

“The Bank Negara board of directors did not carry out adequate due diligence in the purchase of Lot 41 (in Section 51, Kuala Lumpur).