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Hisham joins chorus of revolt against 1MDB
Published:  May 9, 2015 2:37 PM
Updated: 8:00 AM

Defence Minister Hishammuddin Hussein today joined the chorus of revolt in Umno over debt-ridden 1Malaysia Development Berhad (1MDB), stressing that efforts to find out the company's true financial position must be expedited.

 

As such, he said the government cannot simply wait for the auditor-general to complete its investigation into 1MDB.

 

"We should not just wait for the outcome of the auditor-general's investigation.

 

"In this context, I urge the auditor-general to immediately present its report and pass it to the Public Accounts Committee," he said in a statement today.

 

Hishammuddin, who is the second Umno vice-president to weigh into the matter, said these measures are necessary to address the negative perception and suspicion over 1MDB.

 

Furthermore, Hishammuddin also urged 1MDB to appoint another independent international auditor to "check, verify and reveal to the public the value of assets and liabilities of the company, as well as the status of its investment portfolio and its cash flow".

 

"The audit firm should also conduct a forensic audit of all 1MDB transactions since its inception, to help 1MDB answer all issues that are being raised.

 

"I am confident that the outcome of an independent audit as well as investigation by the auditor-general, will help 1MDB to convince the rakyat on the financial status of the investment company," he said.

 

He also reiterated that if 1MDB had done any wrongdoing, legal action should be initiated against it.

 

Najib had in March instructed the auditor-general to conduct an audit of 1MDB following relentless attacks by former prime minister Dr Mahathir Mohamad.

 

That measure temporarily helped quell the disquiet within Umno but the latest 1MDB deal with Tabung Haji, has opened the floodgates of criticism in the party.

 

Yesterday, Rural and Regional Development Minister Shafie Apdal ( photo ), who is also an Umno vice president, said the government's credibility is at risk if the Tabung Haji-1MDB deal was not properly managed.

 

On Wednesday, rumours of Tabung Haji purchasing 1MDB's land in a bid to help the cash-strapped company was circulated online.

 

It was later confirmed that Tabung Haji had paid RM188.5 million for 1.56 acres of the 70-acre Tun Razak Exchange land owned by 1MDB.

 

1MDB had purchased the entire 70 acres from the government for a mere RM194.1 million.

 

Tabung Haji chairperson Abdul Azeez Rahim, in a hastily put together press conference today, said the land will be sold off to give a peace of mind to Tabung Haji contributors.

 

Tabung Haji is a fund largely contributed by village folks, which is Umno's core support base, for the purpose of funding their pilgrimage to Mecca.

 

1MDB is an entity owned by Finance Ministry, a portfolio under Prime Minister Najib Abdul Razak, who is also Hishammuddin's cousin.

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