1MDB interim report will not be made public, says PAC

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KUALA LUMPUR: The much-anticipated report of the initial findings by the auditor-general (A-G) on 1Malaysia Development Bhd (1MDB) will not be made public after all, said Public Accounts Committee (PAC) chairman Datuk Nur Jazlan Mohamed yesterday.

This is despite public scrutiny and mounting pressure for the government to resolve 1MDB’s RM42 billion debt.

The A-G is due to complete the interim report by the end of this month, and it is expected to be presented to the PAC at the earliest in July, Nur Jazlan told reporters at the Parliament lobby.

Nur Jazlan said the committee had no intention of revealing the contents of the interim report to the public, adding that only the final report will be tabled in Parliament in the future.

“He (A-G Tan Sri Ambrin Buang) said the interim report will be ready by the end of June, and after that he will table the interim report to the PAC,” he added.

Nur Jazlan said with the interim report in its hands, the PAC will be able to use the information given by the A-G for its probe into questionable deals made by the state-owned investment fund.

The A-G has not given the PAC any insight into the contents of the soon-to-be-completed interim report, he added.

“We do not know [yet] what the contents are, but we will use the information given,” he said.

Ambrin has not given the PAC any indication as to when the final report on 1MDB will be ready.

“We will take our time when considering 1MDB because there is so much information out there,” said Nur Jazlan, when asked to comment on a report that Prime Minister Datuk Seri Najib Razak aims to resolve the 1MDB saga within the next two to six months.

Nur Jazlan said there is no reason to rush PAC proceedings on 1MDB.

Audit firm KPMG is due to give its testimony tomorrow to the PAC. KPMG is one of the three auditors of 1MDB.

To recap, Ambrin in a statement recently said the National Audit Department will complete its preliminary findings on 1MDB by the end of this month. The A-G was recently accused of dragging his feet in completing the probe into 1MDB.

 

This article first appeared in The Edge Financial Daily, on June 16, 2015.