No ‘sakau’ proof but RCI doesn’t clear TH leaders, says Syed Saddiq

 The Muar MP says the report should not be used to accuse politicians without proof or downplay the pilgrim fund’s governance issues.

Muar MP Syed Saddiq Syed Abdul Rahman urged the government to clarify whether the forensic audits into 14 troubled TH investments had been completed.

PETALING JAYA:

The royal commission of inquiry report on Lembaga Tabung Haji may not have proven any political leader embezzled funds, but that does not absolve those responsible for the governance failures that caused major losses, says Syed Saddiq Syed Abdul Rahman.

The Muar MP said the report should not be used to accuse politicians of theft without proof, but should also not be used to downplay the serious failures it uncovered.

“The report does not say that Political Leader A embezzled billions of ringgit. It does not. What it does show is billions of ringgit in losses.

“These losses were caused by inexperienced and unqualified leaders being placed in positions where they made investment decisions that resulted in billions of ringgit in losses,” he said in a YouTube live tonight.

Syed Saddiq noted the RCI was not empowered to determine whether corruption had taken place, as it lacked the investigative powers of the police or the Malaysian Anti-Corruption Commission.

“Only by following the money through forensic audits can we know whether there was corruption, abuse of power or simply poor investment decisions,” he said.

He was referring to one of the RCI’s recommendations that forensic audits should be carried out on 14 troubled investments, including TH Indo Plantations, Trurich Resources and FGV Bhd.

Syed Saddiq urged the government to clarify whether audits and investigations into the investments had been completed.

“If the forensic audits have been completed, make the findings public. If they have not, carry them out as soon as possible,” he said.

His comments came amid mixed reactions to the RCI report, including from Umno Youth chief Dr Akmal Saleh, who appeared to challenge Prime Minister Anwar Ibrahim last week to prove claims that theft had taken place at Tabung Haji.

Akmal wrote on Facebook: “So who are the Umno politicians involved and said to have ‘sakau’ (stolen) (Tabung Haji funds)?”

He said the report instead found fault with the fund’s weak management, and questioned whether providing high dividends to depositors and subsidising haj costs could be considered “sakau”.

Syed Saddiq rejected the argument that TH’s financial problems were not serious simply because depositors continued to receive hibah (profit payments) and haj assistance.

He said the losses did not disappear and should be addressed through measures involving future depositors, taxpayers and subsequent governments. - FMT