Cabinet absolution of 1MDB preempts federal audit, says PAC member
KUALA LUMPUR, March 5 —The Cabinet’s decision to clear 1 Malaysia Development Bhd (1MDB) of “any wrongdoing” is premature when the Auditor General has not started his evaluation of the state investor, said a parliamentary Public Accounts Committee member.
Although Petaling Jaya Utara MP Tony Pua lauded the decision to order a federal audit of the firm, he said it was impossible for the Cabinet to come to such a conclusion based only on a briefing by 1MDB and its own auditors yesterday.
“How can the Cabinet listen to 1MDB and its external auditors for less than two hours, without listening to any other parties and immediately accept all the explanations without question?” he said in a statement.
“After all, if 1MDB was managed so well, why has the company accumulated more than RM42 billion in debt and had to…