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.
Suganthi Suparmaniam
Tue Jul 14 2015
He said the preliminary report by the Auditor General investigating 1MDBs activities has found no evidence of wrong doing.
Sabah has allocated over RM75 million for education aid initiatives - Hajiji
Sabah has allocated RM75.5 million this year to implement 13 education aid initiatives for students, schools, parent-teacher associations, as well as Sabah student associations
Ismail Sabri will continue providing statement tomorrow - Azam
MACC chief commissioner Tan Sri Azam Baki has confirmed that former PM Datuk Seri Ismail Sabri Yaakob will return tomorrow morning to continue providing his statement
PM Anwar wants faster implementation of rural infrastructure projects
Datuk Seri Anwar Ibrahim today directed the Rural and Regional Development Ministry (KKDW) to expedite basic infrastructure projects that are crucial for the well-being of the people.
Russia lays out demands for talks with US on Ukraine, sources say
Russia has presented the U.S. with a list of demands for a deal to end its war against Ukraine and reset relations with the US, sources say
Astro launches Max on the Ultra and Ulti Box, bringing more premium entertainment options to Malaysian homes
Astro, Malaysias leading content and entertainment provider, today announced that Max, the premier streaming service from Warner Bros.
Duterte takes responsibility for Philippines drug war, anticipates long ICC battle
Former Philippine President Rodrigo Duterte said he takes full responsibility for his administration's "war on drugs"
Canada announces plan to ease Syria sanctions
The Canadian government on Wednesday announced plans to ease sanctions on Syria during what it called a period of transition.
Zii Jia pulls out of Swiss Open due to injury
Malaysia's men's singles shuttler Lee Zii Jia has withdrawn from next week's Swiss Open due to a recurring right ankle injury.
MCMC probes man for uploading fake content on social media
A 47-year-old Malaysian man is being investigated for allegedly uploading fake content that touches on the 3R (religion, race and royalty) on social media.
KPDN calls on public to help report bottled cooking oil shortage
The Ministry of Domestic Trade and Cost of Living (KPDN) has urged the public to be the eyes and ears of the ministry and report shortages of bottled cooking oil in their areas.
ICJ to hold public hearings on Israel's obligations in occupied Palestinian territory
The International Court of Justice will hold hearings next month on Israel's obligations towards Palestinians, Anadolu Ajansi (AA) reported.
Anwar: Sapura Energy's rescue plan excludes former shareholders
Prime Minister Datuk Seri Anwar Ibrahim said Sapura Energy Bhd's (SEB) former major shareholders are no longer involved in the company's management as part of its restructuring efforts.
Intel names Lip-Bu Tan as new CEO
Intel Corporation (INTC.O) has appointed semiconductor Malaysian-born industry veteran and former board member Lip-Bu Tan as its new CEO.
Ismail Sabri at MACC HQ to give statement
Former Prime Minister Datuk Seri Ismail Sabri Yaakob was at the Malaysian Anti-Corruption Commission (MACC) headquarters here today to give his statement
Duterte could face up to 30 years or life imprisonment if convicted by ICC - Malacanang
Former Philippines President Rodrigo Duterte could face up to 30 years or life imprisonment if convicted of crimes against humanity by the International Criminal Court (ICC)
Clarification on the investment in Sapura Energy by MDH
Permodalan Nasional Berhad (PNB) as the existing significant shareholder of SEB.
Floods recede in Beaufort, but residents remain wary of downstream water flow
While floods in Beaufort are receding, residents remain on alert for downstream water flow that could bring floodwaters from inland areas.
Govt to ensure establishment of SEGiM aligns with introduction of Gig Workers Bill
The government intends to ensure that the establishment of the Malaysian Gig Economy Commission (SEGiM) is in line with the introduction of the Gig Workers Bill.
UK steel industry warns of damage as Trump tariffs come into force
US President Donald Trump's tariffs on UK steel "couldn't come at a worse time," the industry has warned as the levy on US imports is introduced, reported PA Media/dpa news.
Penang allocates RM49.45 million for Phase 1 of i-Sejahtera Programme
The Penang government has allocated RM49.45 million for 274,151 recipients under Phase 1 of the i-Sejahtera Programme this year.