PAS is satisfied with the 1MDB rationalisation plan that is meant to help the company pare down its debts, said party deputy president Tuan Ibrahim Tuan Man.

However, he said 1MDB assets that have been placed under Finance Ministry’s control via MOF Incorporated should be put under parliamentary supervision.

He said this following a roundtable discussion this morning, involving a delegation from 1MDB’s management team led by its CEO Arul Kanda Kandasamy.

“We are satisfied with the explanation given by Arul, especially regarding his rationalisation plan to overcome the problems faced by 1MDB. However, we see that the Finance Ministry has taken over 1MDB’s assets.

“As part of the discussion, we find that when assets are handed to MOF Inc, we need to monitor issues arising from the assets because we are concerned that there would be new problems if it is not kept in check.

“We hope that such issues would be monitored directly by the Parliament. This means that members of the Finance Ministry, the ministers, would need to report to Parliament so that MPs can follow each development and ensure that there are no new problems,” he said at a press conference in Ampang today.

The rationalisation process that started in 2015, among others, entails separating Tun Razak Exchange (TRX) and Bandar Malaysia from 1MDB and using it to raise funds to pay off 1MDB’s debts.

Following suggestions from a Public Accounts Committee (PAC) report about a year later, the government also pledged to transfer these and other assets - namely land holdings in Air Itam and Pulau Indah - to MOF Inc.

The move would see 1MDB reduced to a shell company once the rationalisation plan is complete, according to Arul in a 2016 interview.

Tuan Ibrahim said the rationalisation process appears to be proceeding well so far, and expressed hope that there would not be political interference in the process.

He said he hopes that 1MDB would be given a chance to settle its debts promptly, as the interest payments of RM1.9 billion per annum would make delays very costly.

However, he also revived PAS president Abdul Hadi Awang’s call in 2015 for a Royal Commission of Inquiry (RCI) to investigate the circumstances that led to the 1MDB scandal.

“The PAC could not resolve the issue because it is merely a body comprising eight parliamentarians from BN and five from the opposition, and its purview is merely to investigate, but there doesn’t seem to be any action yet.

“With due respect to the enforcement agencies in Malaysia - the Malaysian Anti-Corruption Commission, the police, the Attorney-General’s Chambers, Bank Negara, and the National Audit Department - we believe there is also a need for an RCI to be formed.

“To us, an RCI is a way out. If there is anyone found to be involved (in wrongdoing), we hope the government would take action,” he said.