Wednesday, April 13, 2016
Najib vows action against 1MDB wrongdoings
“The Public Accounts Committee (PAC) last week submitted its report to Parliament. It identified weaknesses in 1MDB’s structure and management, and as I said last week, we must ensure lessons are learnt.
“Action will be taken if any evidence of wrongdoing is found. In addition, 1MDB’s board of directors has offered its resignation,” Najib said in his keynote address at the 12th Invest Malaysia here yesterday.
But in defence of 1MDB, he said there would be an evident legacy of the fund when the Tun Razak Exchange and Bandar Malaysia projects were completed.
Separately, Malaysian Associated Indian Chamber of Commerce and Industry (Maicci) president Tan Sri K. Kenneth Eswaran said the PAC’s findings on 1MDB proved that the allegations made by former prime minister Tun Dr Mahathir Mohamad were unfounded.
“As confirmed by the report, Najib is the chairman of the 1MDB advisory board and not part of the board of directors that was supposed to scrutinise its management and cash flow activities.
“As a senior statesman who led the country for 22 years, he should be well aware that such accusations are detrimental to national growth,” he said in a statement yesterday.