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Ex-Minister Warns Of Backlash Over 1MDB Issue

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KUALA LUMPUR: A former finance minister has warned that even if Barisan Nasional wins the next general election, the country can still face economic repercussions if the 1Malaysia Development Bhd (1MDB) issue is not handled properly.

Former second finance minister Datuk Seri Ahmad Husni Hanadzlah said perception plays a large part in the growth and stability of Malaysia’s economy, and the way the 1MDB controversy is being addressed may not have a good impact.

“Barisan may be able to win the next election, but if the international case results do not favour us, what will happen to the perception?

“Malaysia’s economic rating will drop, investors will start pulling out, job opportunities will be reduced, and the economy as a whole will slow down,” the Tambun MP said when debating the Budget in the Dewan Rakyat Monday.

In line with instructions by Speaker Tan Sri Pandikar Amin Mulia, Ahmad Husni did not explicitly identify “the international case”, but he was referring to the US Justice Department’s lawsuits filed in July to recover funds allegedly embezzled from 1MDB.

Ahmad Husni, who resigned as second finance minister in June this year, said during the debate that he was not talking about political matters surrounding the issue, but that he and other Malaysians have the right to know details about the issue itself.

“People’s confidence in a government will be fixed when the government has dignity, integrity and good governance, without patronising politics.

“In this respect, good governance should not only be seen in the fiscal elements, but cover all government machinery, including agencies,” he said.

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