Umno vice-president Datuk Seri Shafie Apdal (pic) joins Tan Sri Muhyiddin Yassin in calling for the government to heed the call by the Conference of Rulers to expedite investigations into 1MDB. – The Malaysian Insider pic, October 10, 2015.1Malaysia Development Berhad (1MDB) is insulting the intelligence of Malaysians by reacting to criticism with the answer that things are normal because its assets exceed its debts, Umno vice-president Datuk Seri Shafie Apdal said today.
Sacked from the Cabinet in July, the former minister is now the second Umno leader to fully back the statement by the Conference of Rulers earlier this week which called for a swift resolution to 1MDB's alleged wrongdoing and action taken against the culprits.
Shafie in a statement said he also agreed with former deputy prime minister Tan Sri Muhyiddin Yassin's views on the troubled government-owned investment firm.
"Being a former Cabinet member, we were briefed on the company's initial capital structure, with RM1 million in equity from its shareholder, the Finance Ministry.
"However, more serious concerns of the rakyat such as details of land acquisitions in Penang and Port Klang, which remain unproductive, plus the transfer of billions of dollars into third party accounts have all gone unanswered till today.
"1MDB's constant response that its assets exceed its debt, hence everything is normal, is truly an insult to the intelligence of all Malaysians," said Shafie.
Muhyiddin two days ago lauded the statement by the Malay Rulers and said the onus was on Prime Minister Datuk Seri Najib Razak to heed their call for the government to ensure that investigations into the state investor were run transparently, fairly and without interference.
"When Their Royal Highnesses speak out about the 1MDB issue, it signifies that 1MDB is a very big matter in their opinion and demonstrates their concern over the negative effects the 1MDB controversy has on the public and nation,” Muhyiddin had said.
"When Their Royal Highnesses speak out about the 1MDB issue, it signifies that 1MDB is a very big matter in their opinion and demonstrates their concern over the negative effects the 1MDB controversy has on the public and nation,” Muhyiddin had said.
Both Muhyiddin and Shafie were dropped from the Cabinet on July 28 after openly questioning Najib over his handling of the firm, which has debts of RM42 billion. 1MDB is also Najib's brainchild and he is the chairman of its advisory board.
Shafie said 1MDB had become an issue that had put Malaysia in the global spotlight "for all the wrong reasons".
"I heed to the call by the Conference of Rulers as well as Bank Negara governor Tan Sri Zeti Akhtar Aziz for the investigations on 1MDB to be expedited in a transparent and honest manner so that we can put this national issue behind us and regain the confidence of the rakyat and international community."
- TMI
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