Umno vice president Shafie Apdal today upped the ante on 1MDB by calling for legal action against those responsible for the fallout.

He says even though 1MDB is going through a debt rationalisation process, the nation is already paying the price through poor economic sentiments.

1MDB's argument that all is well because its asset exceeds liabilities is also an "insult", he said, since the state investment firm is unable to pay its debts.

"Although debt rationalisation is in progress, we must also never forget that because of lack of transparency and good governance. The nation is paying a heavy price.

“Those responsible should be brought to book and must apologise to the rakyat,” he said in a statement issued to Malaysiakini .

Muhyiddin (photo) last week urged Prime Minister Najib Abdul Razak to heed the Conference of Rulers’ decree that the 1MDB probe be wrapped up and wrongdoers, if any, be punished.

Muhyiddin and Shafie were both sacked from their cabinet posts during the July cabinet reshuffle but retained their Umno posts.

BN strategic communications director Abdul Rahman Dahlan yesterday said the government, too, wants the 1MDB issue resolved, but needs time .

He said the debt rationalisation process should be done by January.

Bank Negara Malaysia on Friday said it cancelled prior approvals for 1MDB to transfer US$1.83 billion (about RM7.5 billion) overseas, and wants 1MDB repatriate all the cash.

However, 1MDB said it has used the cash for other purposes, including to pay off part of its RM42 billion liabilities.

BNM had twice urged the Attorney-General’s Chambers to prosecute 1MDB officials for contravening the Exchange Control Act 1953 to no avail .

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