Former prime minister Najib Abdul Razak has to answer for the haul of goods estimated at a market value of up to RM1.1 billion found at his residences, Umno presidential candidate Khairy Jamaluddin said today.

According to Bernama, however, Khairy cautioned that no parties should pre-empt the police investigation by issuing premature statements of condemnation.

"He has to answer and be charged in court if it is true (that the haul worth up to) RM1 billion belongs to him.

"But we cannot pre-empt the investigation by making a statement condemning anyone.

“Because what we know is the value of the money, we do not know how, who owns it, and so forth," he was quoted as saying.

Bernama also reported Khairy as saying that Umno would only take a stand on the sizeable haul after the investigation and the judicial process are complete. He stressed, however, that Umno would not protect anyone from the law.

Khairy's rival for the Umno presidency, Ahmad Zahid Hamidi, refused to elaborate on the haul, which was revealed by the Bukit Aman Commercial Crime Investigation Department (CCID) earlier today. 

“We leave it to the rule of law to take place. We will let the authorities take action,” the Malay Mail quoted him as saying.

CCID director Amar Singh placed the total value of the jewellery, handbags and luxury watches seized at RM686.37 million, but said the retail value of these items could be as high as RM1.1 billion.