Lim Kit Siang has called on Prime Minister Najib Abdul Razak to go on leave to allow a full-fledged investigation into 1MDB by a Royal Commission of Inquiry (RCI).

If cleared of any wrongdoing, the DAP stalwart said, Najib could then return to office.

Yesterday, former prime minister Dr Mahathir Mohamad said Najib should resign and return to office once cleared of any wrongdoing in the matter.

However, Lim said, there was no reason for Najib to resign from his post.

"I do not think it is necessary for Najib to resign as prime minister, as taking extended leave would suffice.   

"It is understandable that Najib will not entertain such a dangerous proposition of resignation as he may not have a premiership to return to after the RCI investigation," Lim ( photo ) added in a statement.

He nevertheless agreed with Mahathir that so long as Najib still exercised the office and powers of prime minister, no proper investigation could be made.

“Mahathir should know, as during his 22 years as prime minister, there could be no proper investigation into the string of financial scandals estimated to cost the country over RM100 billion under his premiership, simply because Mahathir was the prime minister of the day," he said.

No confidence in the current investigations

Lim also pointed out that despite all the relevant authorities - the Auditor-General, the Public Accounts Committee, Bank Negara and even the police - investigating the scandal, nobody has any confidence that any of these investigations would be meaningful and produce the proper results.

“All these investigations should be replaced with an investigation by an RCI, with the RCI commissioners appointed by the Dewan Rakyat by way of a motion, so that the views of both the government and opposition are taken into account on such appointments."

The Gelang Patah MP and DAP parliamentary leader said the RCI into 1MDB should “start work immediately” and hold public hearings.

It should also be given a time-frame of six months to complete its investigations and submit its findings and recommendations.

Lim explained that an RCI into 1MDB had become even more compelling with the revelation that auditing of 1MDB’s accounts for the year ending March 31, 2015 had not even started.

“Can Najib disclaim responsibility for such shocking lack of good governance in a government company where the prime minister is the final approving authority?” he said, citing Clause 117 of the 1MDB Memorandum and Articles of Association (M&A) Agreement.

The clause stipulates that the prime minister must give his written approval for any of 1MDB deals, including the firm’s investments or any bid for restructuring.