Sepang MP Hanipa Maidin wants the Dewan Rakyat to stop blocking debates on 1MDB after Prime Minister Najib Abdul Razak admitted "failings" and “governance lapses" at the state-owned investment fund.

"If (the prime minister) acknowledges it failed, then I hope the speaker will not reject questions on 1MDB, or prevent MPs from debating the issue in the upcoming Parliament sitting in March.”

The Dewan Rakyat had repeatedly rejected questions on 1MDB, citing that it could be sub judice.

The US Department of Justice said at least US$4.5 billion was stolen from 1MDB and has moved to seized US$1.7 billion in assets, allegedly acquired using the stolen money.

The country’s involvement was due to 1MDB's funds allegedly being laundered through its financial system.

Several other jurisdictions have also initiated investigations related to the investment fund, including Switzerland, Luxembourg, UAE, Singapore and Hong Kong, due to institutions and persons from these countries involved in the scandal.

Singapore has also jailed several bankers in relation to the 1MDB matter.

Hanipa said the acknowledgement of failings of 1MDB should also be coupled with a recognition that the matter should be tried and punishment meted out.

Malaysia has yet to file any charges over the case.