Friday 29 Mar 2024
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KUALA LUMPUR (April 19): Opposition lawmakers in the Public Accounts Committee (PAC) have accused the committee's chairman Datuk Hasan Ariffin of cutting out the crucial fact that Good Star Ltd was owned by an individual unrelated to the PetroSaudi Group, in the PAC's report on its probe into the controversial state-owned fund 1Malaysia Development Bhd (1MDB).

The five opposition members, led by PAC deputy chairman Tan Seng Giaw, claimed that Hasan has carried out some serious editing on the PAC report approved by all the PAC members on the April 4 meeting.

One important sentence that the PAC chief has erased, they alleged, read: "Bank Negara Malaysia was informed voluntarily by relevant authorities of the country that Good Star Ltd was a company owned by an individual unrelated to the PetroSaudi Group."

"The sentence proved that Good Star Ltd is not owned by PetroSaudi group and a misappropriation of funds amounted to US$700 million has happened," DAP Petaling Jaya Utara MP Tony Pua told a press conference at the Parliament lobby today.

This sentence came after the one that read, "Based on the document submitted by Datuk Shahrol Azral on Nov 5, 2015 to the PAC, the account belongs to Good Star Ltd which is a subsidiary of PetroSaudi since Sept 1, 2009," in relation to the US$700 million being transferred to Good Star Ltd without the approval of the board.

"The PAC chairman's move to cut out the sentence that has been agreed upon in the PAC meeting is a move that clearly infringes the Standing Order and invoke suspicion over his intention to cover up the case.

"Datuk Hasan Arifin has not discussed the matter with us, officially or unofficially," the five said in a statement.

Meanwhile, Pua said Hasan has informed the PAC that he has officially written to the central bank to get additional information with regards to the identity of the owner.

"We are not sure if the chairman has received a response from BNM (Bank Negara Malaysia). We urge Hasan to rectify the PAC report immediately through a correction paper to the Parliament," the statement read.

The MPs also urged the chairman to call for a PAC meeting to discuss the cancellation of the debt-asset swap deal between 1MDB and Abu Dhabi's International Petroleum Investment Corp (IPIC).

They noted that 1MDB has been giving a false impression that the rationalisation of the company has been smooth, and so there is no need for the government to pay its debts.

Its sole owner, the Ministry of Finance, had reiterated on Monday that it would continue to honour all its outstanding commitments in the financial markets, following 1MDB's statement yesterday that it would meet all of its obligations under "any other financing arrangements" and it has ample liquidity to do so, on the heels of its dispute with the Abu Dhabi-based fund, IPIC, on certain debt obligations.

Meanwhile, the five PAC members today said they are prepared to work with PAC members from the ruling party to get the true picture of what went on at 1MDB from additional investigations.

They also continued to press Hasan to table in Parliament the final audit report by the Auditor General to PAC, as well as the Hansard of the proceedings on the tabling and discussion on the audit report between PAC and the Auditor General, and discussions between the members and government officials who prepared the PAC reports.

"The Hansards are important to have [to give] a full picture of the PAC investigation on 1MDB," they said, noting that the Standing Order 10(1) requires all meetings must be published.

"Therefore, we urge the PAC chairman to publish all the Hansards, at least to the Parliament website," they urged.

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