Proposed 1MDB shutdown no laughing matter, says Annuar

The proposed shutting down of 1MDB after its debts are paid should not be a laughing matter or turned into an issue, said Umno information chief Annuar Musa.

He said that in implementing its rationalisation plan, 1MDB had settled part of its debts, leaving no more short-term debts and the company managed to resolve the problems faced.

"Based on the recommendations made in the Public Accounts Committee report, the landed assets especially had been transferred to the Minister of Finance Incorporated, which means 1MDB may be regarded as a holding company and no longer an active company.

"1MDB was established with good intentions, but it later received brickbats, was slandered and criticised, so from the start it had been difficult to operate,” he said referring to the announcement that 1MDB would shut down after the 14th general election.

Annuar spoke to reporters after a talk show last night, which featured Kepala Batas MP Reezal Merican Naina Merican, who is also the deputy foreign minister, and Pendang MP Othman Abdul in Kepala Batas.

He said that with all the slander, there was no point in carrying on with the business, and as such a business decision, not a political decision, had to be made.

Last Tuesday, Treasury secretary-general Mohd Irwan Serigar Abdullah, who is also 1MDB chairperson, announced that the company would cease operation as soon as it settled all its debts.

- Bernama