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Cabinet To Get 1MDB Briefing

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PETALING JAYA: The Prime Minister and his Cabinet will be given first-hand and latest information on the controversial 1Malaysia Development Bhd where a special paper has been prepared to brief the ministers on its current status.

The presentation will be made by Second Finance Minister Datuk Seri Ahmad Husni Hanadzlah at the weekly meeting today.

It is learnt that the paper will provide information on the company’s debt status.

Sources told The Star that Datuk Seri Najib Tun Razak and the Cabinet would also be informed on how 1MDB “plan to move forward” following the controversy.

“The way forward is an important element which the company must address.

“True, we need information on their financial status but how 1MDB is going to move on, meet its target and be committed to the smooth and efficient running of the company is equally crucial,” said a source.

1MDB officers are expected to be on standby to answer further queries from the ministers.

Sources pointed out the fact that a special paper had been prepared to further brief the Cabinet on the issue reflected Najib’s commitment to resolve the issue.

“This is a good signal. Let’s hope that once the air is cleared, the administration can truly focus on running the country, especially in executing what has been planned under the 11th Malaysia Plan,” a source said.

Former Prime Minister Tun Dr Mahathir Mohamad has been criticising Najib on a number of issues including on 1MDB.

On March 4, the company and its auditors Deloitte were called to brief the Cabinet about its situation and responded to questions from the ministers, including from the Prime Minister and his deputy Tan Sri Muhyiddin Yassin.

Pledging that 1MDB would face legal repercussions if there was any wrongdoing, Najib directed the Auditor-General to verify its accounts and forward the findings to the Public Accounts Committee.

The PAC has begun its own probe on May 19 when two senior officials – Treasury secretary-general Tan Sri Irwan Serigar Abdullah, also an advisory board member of the government-linked investment arm, and Economic Planning Unit director-general Datuk Seri Dr Rahmat Bivi Abdullah – appeared before it.

1MDB president and group executive director Arul Kanda Kandasamy and its former CEO Datuk Shahrol Azral Ibrahim Halmi were supposed to meet the PAC on Tuesday but both requested for another 30 days to prepare.

Two of the three 11MDB auditors – KPMG and Erns & Young – have been summoned by the PAC to appear on June 10 and 17.-The Star

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