1MDB PAPERS SOUGHT

PAC: Fund needs to submit more documents to aid probe

PAC believes investment fund needs to furnish more documents.

KUALA LUMPUR: The Public Accounts Committee is unable to form an immediate opinion on the preliminary report submitted by the Auditor-General after his forensic audit of 1MDB and believes the investment fund needs to furnish more documents.

PAC chairman Datuk Nur Jazlan Mohamed said they were satisfied with the A-G’s probe and noted that aside from not responding to the request for some documents, 1MDB had been cooperative.

“It has given us a lot of information and questions to ask in our own investigations,” he said at a press conference here yesterday, adding that it was too early to make any conclusions of wrongdoings by 1MDB.

“Issues were raised where the A-G did not get good cooperation from 1MDB with regard to some documents which were requested.

“Please give cooperation to the A-G on what is required.”

In response, 1MDB president and group executive director Arul Kanda Kandasamy said 1MDB would immediately contact the Audit Department to seek clarification on which documents Nur Jazlan was referring to.

In a statement, he said 1MDB had submitted all documents in its possession to the department.

“As the interim report has not yet been shared with 1MDB, we are unable to comment on the PAC chairman’s statement that certain documents appear to have not been submitted,” said Arul Kanda, adding that 1MDB would continue to cooperate with the A-G.

“We note in particular the PAC chairman’s comments on the thoroughness of the A-G’s investigation.”

Nur Jazlan had said earlier that the bi-partisan committee was satisfied with the transparency used by the A-G in conducting the interim audit, which included interviewing both past and present 1MDB chiefs, its directors and Finance Ministry officials.

Asked if 1MDB’s documents and materials seized by the special task force on Wednesday had any bearing on the A-G’s audit, Nur Jazlan said he could not make a premature judgment.

“At the end of the day, the A-G needs those documents to complete the report,” he said.

Asked if there were concerns that documents which had yet to be given to the A-G would disappear or be tampered with, Nur Jazlan said “No”, adding that 1MDB was under the Finance Ministry and should be able to provide the documents.

On The Wall Street Journal’s expose of an alleged money trail into several accounts, Nur Jazlan said the PAC would recommend that the A-G look into it.

The special task force made it clear that the documents used by the A-G were provided by its investigators and not taken from material published by the WSJ.

Nur Jazlan also noted that the PAC did not want to impede the special task force’s investigations, which could also aid the A-G’s audit.

The A-G’s audit covers a period between Feb 23, 2009, and March 30, 2014, which includes the formation of the Terengganu Investment Authority, its takeover by the Federal Government and subsequent conversion into 1MDB.

The PAC will call 1MDB’s past and present chiefs Datuk Sharol Halmi and Arul Kanda on Aug 4 and 5. Also to be called are 1MDB’s board of directors on Aug 17.

It has not discounted the possibility of Prime Minister Datuk Seri Najib Tun Razak and businessman Low Taek Jho being called to testify.

GEORGE TOWN: The Penang government has ordered the state Land and Mines Department to lodge a caveat on land owned by 1Malaysia Development Bhd ( 1MDB) in the state.

Chief Minister Lim Guan Eng said there are concerns over the ownership of the 94.7ha land in Air Itam.

“The caveat on the property is to prevent the owner from selling the property,” he said.

“This will be done according to Section 320 of the National Land Code 1965,” he said.

Lim said the state would write to 1MDB CEO Arul Kanda Kandasamy to obtain details on the land.

Air Itam state assemblyman Wong Hon Wai said 1MDB owns three parcels of land in Air Itam.

Wong, who is Lim’s political secretary, said one parcel of land was on both sides of Jalan Kampung Pisang.

“The land is in front of the Air Itam police station and stretches all the way to near Sunshine Farlim,” he said.

He said another parcel of land was along Jalan Balik Pulau behind the Air Itam market.

The third parcel was along Jalan Paya Terubong near SJK (C) Kong Ming Cawangan 2.