1MDB board I head has no administrative function, says PM Najib

PARLIAMENT Prime Minister Najib Abdul Razak said the 1MDB advisory board that he heads has no administrative function and only acts as an adviser to the state-owned firm.

"All decisions and transactions of 1MDB are made by the management and board of directors," he said.

Najib said this to Dr Ko Chung Sen (DAP-Kampar), in a parliamentary written reply in his capacity as finance minister.

Ko asked on the role of the advisory board, which is chaired by Najib himself, and whether the prime minister and the other members were involved in formulating 1MDB’s financing strategy, purchases and sales of assets.

He also asked if the prime minister and the advisory board members had been fully briefed on 1MDB's management of billions of dollars.

Najib said the 1MDB report prepared by Public Accounts Committee (PAC) has not shown any proof of wrongdoing allegedly committed by him.

"There is no proof in the PAC report that shows wrongdoing by the prime minister in the administration of 1MDB," he said.

Ko (photo) also asked if Najib read the 1MDB document that states his signature is required for approvals and if he understood the content of documents before putting his signature on them.

"I wish to ask if the prime minister has been misled by 1MDB's chief executive officer and his officials to sign a document authorising the transfer of billions of ringgit," Koh asked.

[More to follow]

-Mkini