Arul, Shahrol will show up for PAC hearings in August, says 1MDB

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KUALA LUMPUR (June 28): 1Malaysia Development Bhd (1MDB) has given assurance that its former chief executive officer Datuk Shahrol Halmi and current president and group executive director Arul Kanda Kandasamy will attend the Public Accounts Committee (PAC) hearings to explain issues concerning the controversial strategic investment company in August. It was commenting on media statements by DAP lawmakers Lim Kit Siang and Tony Pua, who had questioned whether Shahrol and Arul would attend the upcoming PAC hearings. "1MDB repeats our commitment, as announced on May 25, 2015, to attend the PAC hearings," the company said in a statement today. "We hereby reconfirm our attendance and commitment to fully cooperate with the PAC," it added. Last month, the duo had missed an initial meeting with the PAC citing they were away on official business. Also, they had asked for a month’s extension to prepare for their meeting with the PAC. Shahrol and Arul will now be facing the Parliamentary body on Aug 4 and 5, respectively. "1MDB has every confidence in the PAC process and trust that the honorable members will carry out their role in a fair and professional manner," it added.