AG to hand over 1MDB interim report on July 9

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KUALA LUMPUR (Jul 2): The Auditor-General's (AG) interim report on 1Malaysia Development Bhd (1MDB) will be handed over to the Public Accounts Committee (PAC) at a briefing on July 9, 2015.

In a statement today, the National Audit Department of Malaysia said the interim report on the controversial 1MDB has been completed as scheduled for the end of June.

"The interim report is based on the results of an audit conducted between March 10 and June 15 this year. The audit by the National Audit Department on 1MDB is still ongoing, with a final report to be handed over to the PAC at the soonest date this year,” it added.

Yesterday, DAP parliamentary leader and Member of Parliament for Gelang Patah Lim Kit Siang had questioned the AG regarding the whereabouts of the 1MDB interim report which was supposed to be ready by the end of June.

In March this year, Prime Minister Datuk Seri Najib Razak had ordered the AG to “independently verify” 1MDB's financial accounts, following allegations directed at the company over transactions undertaken by third parties such as PetroSaudi International.

The PAC will examine the AG’s report and “if any wrongdoing is proven, the law will be enforced without exception,” said Najib, who is chairman of 1MDB’s board of advisers.

Najib had added that 1MDB's relevant investments have been returned in full with significant audited profit.

The prime minister’s request for the AG to verify 1MDB’s accounts also came after the Cabinet had expressed confidence that no wrong-doing had been committed within 1MDB, and their desire for the company to be allowed to implement the proposed outcomes of its strategic review following a briefing by 1MDB executives and its auditors Deloitte.