PAC wants AG to audit 1MDB immediately

The Public Accounts Committee (PAC) chairman Datuk Nur Jazlan Mohamed says 1Malaysia Development Berhad must explain its business deals and debts. – The Malaysian Insider file pic, February 26, 2015.

The Public Accounts Committee (PAC) wants the Auditor General's Department to immediately carry out an audit of the government-owned 1MDB's deals before it calls up the company.

PAC  chairman Datuk Nur Jazlan Mohamed said the immediate audit should be of the source of the RM2 billion used to settle 1MDB's loans with local banks, the RM3 billion injection of government funds into the debt-laden company, its dealings with PetroSaudi International (PSI), and whether the money parked in Cayman Islands has been brought back.

“The public needs to know the truth and the government must be transparent on 1MDB. If its investments and operations are legitimate, let this be proven by the Audit Department,” said Nur Jazlan in a statement.

- TMI