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Friday, August 14, 2015

Prove 1MDB is ‘open book’ by answering simple questions, Tony Pua tells Arul

1MDB president Arul Kanda Kandasamy appeared on TV3 this week saying the company is eager to face the Public Account Committee, whose investigation is now stalled following a Cabinet reshuffle which took away four of its members. – 1MDB Facebook pic, August 14, 2015.1MDB president Arul Kanda Kandasamy appeared on TV3 this week saying the company is eager to face the Public Account Committee, whose investigation is now stalled following a Cabinet reshuffle which took away four of its members. – 1MDB Facebook pic, August 14, 2015.
1Malaysia Development Bhd (1MDB) president Arul Kanda Kandasamy should prove his claim that the state fund was an "open book" by answering the simple questions about the company's dealings, said DAP.
The party's publicity chief Tony Pua said Arul could start by answering the question that has been around for six months - whether 1MDB transferred nearly US$1.2 billion to Gold Star Limited, a company controlled by businessman Jho Low.
"Why can’t Arul Kanda answer these questions to allay the fears of the public and the suspicion of gross mismanagement and misappropriation taking place in the wholly-owned Ministry of Finance subsidiary?  " asked Pua.
He urged Arul to state if the fund's debt had increased from RM42 billion to nearly RM50 billion to date, and whether 1MDB had doctored its financial statements provided to banks.
He also questioned how much 1MDB paid Aabar or International Petroleum Investment Corporation (Ipic) to redeem its options.
Pua said Arul instead chose to give a scripted television interview to Umno-owned TV3 to dispel claims against the company.
In the interview, Arul described 1MDB as the country’s most investigated company and lamented the postponement of the Public Accounts Committee's (PAC) inquiry into 1MDB.
He said 1MDB was eager to respond to a slew of allegations against it.
However, Arul 's meeting with PAC on August 4 and 5 could not take place as the hearings were suspended after its chairman Datuk Nur Jazlan Mohamed and three members, Datuk Seri Reezal Merican Naina Merican, Datuk Mas Ermieyati Samsudin and Datuk Wilfred Madius Tangau, were made deputy ministers.
Dewan Rakyat Speaker Tan Sri Pandikar Amin Mulia then ordered proceeding stopped until a new chairman was appointed when Parliament reconvenes in August.
Pua (pic, left) said the fund's battered image was causing serious consequences to Malaysia's currency and economy, and urged Arul to accept an open debate or public dialogue with him to answer the many pressing questions.
He said Arul must also honour his offer made in January to have an open dialogue with him over 1MDB.
Pua said that if the claim that the company was an "open book" was true, there would have been more clarity and factual information about 1MDB without waitinh for exposes by third party sources such as the Sarawak Report, The Edge or The Wall Street Journal.
"If Arul Kanda is able to respond to the questions posed and successfully debunk all my allegations and criticisms, it will not only do 1MDB a whole load of good, it will go a long way towards halting the slide of the Malaysian currency, stock exchange and economy.
"Surely, Arul Kanda can’t be afraid of someone whom he claims got all his facts wrong? Pua said.
- TMI

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