KUALA LUMPUR: The Public Accounts Committee (PAC) will continue its investigations into 1Malaysia Development Bhd (1MDB), said Minister in the Prime Minister’s Department Datuk Seri Abdul Wahid Omar (pic).

Abdul Wahid told the audience at the conference on Malaysia’s Economic Updates that the various parties, which were involved in the investigations, will be allowed to complete their respective investigating jobs and inquiries into the state-owned strategic investment fund.

“Firstly, what has happened has happened. There is a due process to find out what transpired. We have a number of investigations or inquiries being undertaken, both at the parliamentary and the agency levels. At the parliamentary level, there is the PAC that has continued with its work.

“In the next session of Parliament, the PAC will be reconstituted and we should allow them to proceed to complete their investigations.

The PAC’s probe into 1MDB was halted following the appointment of its former chairman Datuk Nur Jazlan Mohamed together with three other members into the Cabinet in August.

On investigations undertaken by the Malaysian Anti-Corruption Commission, Abdul Wahid noted that the government should allow it to continue to complete the process. “This is something that the prime minister has committed to, to ensure investigations will be allowed to proceed,” he said.

Abdul Wahid said the focus now should be on resolving the issues that the state-owned fund is entangled in.

“The next point I would like to make is the need to move forward, when it comes to 1MDB. I think we must draw a line, and make sure that we come up with a holistic solution, so that 1MDB will be able to recover as much as possible from its assets to be able to pay off its debts,” he said.

He pointed out that 1MDB’s assets include Edra Global Energy Bhd and two development projects, namely the Tun Razak Exchange and Bandar Malaysia.

“In the case of Edra, they are going through a bidding process to get the highest bid possible. I understand that due diligence is being undertaken by the final parties, and hopefully they will come up with their final bid later.”

This article first appeared in The Edge Financial Daily, on September 22, 2015.