1MDB: Wait for final report, focus now on rationalisation plan - Ahmad Husni

Second Finance Minister Datuk Seri Ahmad Husni Hanadzlah said the government will now focus on the rationalisation plan for the 1Malaysia Development Berhad (1MDB) following the Auditor General preliminary report which found no evidence of wrong doing.

“Our focus is now on the rationalisation plan, whereby the Government is committed to have the issues pertaining to 1MDB’s debt be resolved,” he said in a press statement today.

“The definitive aim of the rationalisation plan is to rebalance 1MDB’s asset and debt in order to support its financial structure that will ensure its sustainability going forward,” he said.

On May 29, Ahmad Husni who tabled the 1MDB rationalisation at the Cabinet meeting said International Petroleum Investment Company (IPIC) will allocate a total of RM3.66 billion to 1MDB to pay its debt.

He said 1MDB has sealed a pact with IPIC and its subsidiary, Aabar Investments (Aabar) for IPIC to make the payment, on or before 4 June 2015.

He also said, the rationalisation strategy will be fully executed early next year.

Meanwhile, Ahmad Husni said since the AG’s preliminary report found no evidence of wrong doing, the allegations of the “disappearance” of RM42 billion and transfer of USD700 million ‘to certain individual’ does not arise.

“It is my hope that all baseless allegations will be put to rest. We have to remain patient and we look forward to the final report by AG and the Public Account Committee (PAC),” he said.