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Wednesday, December 30, 2015

Gov't will not set up RCI on 1MDB, says Azalina

The government will not conduct a Royal Commission of Inquiry (RCI) on 1MDB to find the root cause of its problems and identify ways to improve performance.
"The government does not propose to set up RCI on 1MDB as the existing investigation mechanism by certain agencies are sufficient and ongoing," said Minister in the Prime Minister's Department Azalina Othman Said.
She said this to Fauzi Abdul Rahman (PKR-Inderal Mahkota) in a written parliamentary reply regarding 1MDB.
The answer was given to the parliamentarian on Dec 3, the last day of the last session of the Dewan Rakyat sitting.
"Is the government ready to set up a RCI to probe independently, accurately and in detail on the performance of 1MDB, to recommend the needed measures if the state-owned firm faced any problems?
"1MDB has tarnished the corporate image of government-owned companies. If the government is not ready, state the reasons," Fauzi asked.
Opposition parties and civil society groups like Bar Council, Proham and Perkasa have called for RCI to be set up when the scandal surrounding 1MDB ran deep months ago.
The government is currently restructuring 1MDB while the latter sold off its assets to cover the liabilities.
While Bank Negara and Malaysian Anti-Corruption Commission (MACC) probed for possible violation of law and regulation, the National Audit Department and Public Accounts Committee (PAC) are identifying on 1MDB's operations and weaknesses. -Mkini

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