Husni ques­tions dis­crep­an­cies

The Sun (Malaysia) - - NEWS WITHOUT BORDERS -

KUALA LUMPUR: For­mer fi­nance min­is­ter II Datuk Seri Ah­mad Husni Hanad­zlah (BN-Tam­bun) ques­tioned var­i­ous dis­crep­an­cies in the gov­ern­ment’s ad­min­is­tra­tion and gov­er­nance.

He urged the gov­ern­ment to re­spond to sev­eral is­sues, in­clud­ing the state in­vest­ment arm 1Malaysia De­vel­op­ment Bhd (1MDB) and le­gal ac­tion against its sale of Ban­dar Malaysia, Re­tire­ment Fund In­cor­po­rated (KWAP)’s loan to SRC In­ter­na­tional and Pan Bor­neo High­way.

De­bat­ing on Bud­get 2017, Husni said the gov­ern­ment need not face these kind of sit­u­a­tions if it had ad­min­is­tered all busi­ness deal­ings prop­erly.

Not­ing that a gov­ern­ment with­out dig­nity, in­tegrity and good gov­er­nance can­not pro­vide a bright fu­ture for its peo­ple, he said the gov­ern­ment’s an­swers to his ques­tions will de­ter­mine the fu­ture of the coun­try and the peo­ple.

“I am not politi­cis­ing the is­sues. I have the right to know. What is the case in the Depart­ment of Jus­tice? What if it doesn’t favour us? What is the per­cep­tion in the in­ter­na­tional arena on Malaysia?

“What is (the sta­tus) of the In­ter­na­tional Petroleum In­vest­ment Com­pany (IPIC)’s ar­bi­tra­tion, what hap­pens if we lose? I have many ques­tions.

“Our rat­ing will fall and there will be a sys­temic ef­fect on our econ­omy. Our (eco­nomic) growth will slow down. Our econ­omy is ac­tu­ally nar­row­ing in terms of em­ploy­ment op­por­tu­ni­ties,” he said.

Husni ques­tioned the gov­ern­ment’s ra­tio­nale for es­tab­lish­ing 1MDB and plac­ing al­most RM16 bil­lion (US$4 bil­lion) in Aabar PJS Ltd.

“Why is there no le­gal ac­tion taken against 1MDB’s man­age­ment for in­vest­ing the money in the wrong place? And why is there no ac­tion on the two mem­bers of the (Saudi) royal fam­ily, who are the own­ers of Aabar?

“What hap­pened to the in­vest­ment units owned by 1MDB, which were sup­posed to have ma­tured? But we don’t know what hap­pened to them,” he said.

Urg­ing the gov­ern­ment to re­spond to all his queries, Husni fur­ther ques­tioned why 1MDB did not ful­fil the agree­ment with IPIC, which led to IPIC’s ar­bi­tra­tion for RM26 mil­lion (US$6.5 bil­lion).

“Just imag­ine if we lose the case!” he said.

On the sale of Ban­dar Malaysia, Husni ques­tioned the gov­ern­ment’s ra­tio­nale of sell­ing 60% of its eq­uity to a China-led con­sor­tium with its pay­ment only to be made in 2022.

“There are fi­nan­cial risks, busi­ness risks and pay­ment risks in this,” he said.

Husni also ques­tioned the lack of ac­tion against KWAP’s loan to SRC, which has been frozen by Swiss au­thor­i­ties and the ac­tual price of Pan Bor­neo High­way.

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