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The AG’s Preliminary Report On 1MDB Found No Wrong Doing

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Calling it reckless allegations, Malaysia’s Finance Ministry today said the auditor-general’s (A-G) preliminary report has found no evidence of wrongdoing by 1Malaysia Development Bhd (1MDB) or proof that US$700 million went to a “certain individual”.

The Auditor-General’s report was submitted to the Public Accounts Committee (PAC) last Thursday but the parliamentary panel said 1MDB had yet to submit more documents for the government audit.

“The reckless allegations by some parties, including the disappearance of RM42 billion and transfer of USD700 million to certain individual does not arise,” Second Finance Minister Datuk Seri Ahmad Husni Hanadzlah said in a statement released in capital city Kuala Lumpur today.

“It is my hope that all baseless allegations will be put to rest. We have to remain patient and look forward to the final report by the A-G and the Public Accounts Committee (PAC),” he said.

He added that the focus now was on the rationalisation plan, where Putrajaya was committed to resolving issues concerning 1MDB’s debts.

“The definitive aim of the rationalisation plan is to rebalance 1MDB’s asset and debt in order to support its financial structure that will ensure its sustainability going forward, ” Husni said in the statement.

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