Former Selangor menteri besar Abdul Khalid Ibrahim believed that 1MDB's "rationalisation" exercise is making good progress and that talks of having to bail out the company were "irrelevant".

Khalid, who once headed Permodalan Nasional Bhd and Kumpulan Guthrie Bhd, said this conclusion was made following the briefing by 1MDB CEO Arul Kanda Kandasamy on Monday.

"It must be pointed out that while the Public Account Committee (PAC) successfully evaluated 1MDB's operation but it was not clear if the company was sustainable.

"At the discussion, Arul Kanda (photo) briefed us on the current financial position showed us the balance sheet of the 1MDB following the restructuring plan enforced by the management.

"In conclusion, the net present value of the assets owned by 1MDB was able to service its current and future liabilities and resulting in a surplus," said Khalid, who is also the Bandar Tun Razak MP.

He said that 1MDB would now be able to make payments on its debts when the income and gains from assets, now in the hands of the Ministry of Finance Inc (MOF Inc), bring in revenue.

"Given this scenario that restructuring is in good progress the issue of bailing out 1MDB is irrelevant," wrote Khalid on his Facebook page yesterday.

On the US Department of Justice (DOJ) investigations in the alleged laundering of 1MDB money, he dismissed this as a "legal drama".

"In any case, the idea of the US trying to save Malaysians of their assets is akin to the argument that the US was trying to save the world from weapon of mass destruction by bombing Saddam Hussein and the people of Iraq.

"When it concerns the US, there is no such thing as a free lunch," added Khalid.

PAS claimed that it had invited Arul Kanda to speak to their leaders, Khalid and several academics at a closed-door meeting on Monday after their questions to Parliament on 1MDB were rejected.

PAS deputy president Tuan Ibrahim Tuan Man said his party was "satisfied" with Arul Kanda's explanation, but hoped that GLCs are subjected to Parliament's scrutiny in the future.

However, other Pakatan Harapan leaders questioned why Arul Kanda would not extend the same courtesy to them and questioned if PAS leaders had actually posed the right questions to 1MDB.