Transparency International (TI) Malaysia today threw its support behind the proposal to appoint an independent international auditor to look into the financial affair of the trouble-ridden 1Malaysia Development Berhad (IMDB).
Its president Datuk Akhbar Satar said the organisation had also called the government to set up a special high level taskforce to conduct a full investigation into the allegations of financial and commercial crime fiasco involving 1MDB, in March.
Backing Defence Minister Datuk Seri Hishammuddin Hussein who had on Saturday suggested for another independent international audit firm, Akhbar agreed that the audit firm should also conduct a forensic audit of all 1MDB transactions since its inception.
READ: Hishammudin wants 1MDB to appoint another international audit firm
1MDB issues continue to be in the news following the latest report on the purchase made by Lembaga Tabung Haji (TH) on a plot of land in the Tun Razak Exchange (TRX) financial district, owned by 1MDB and valued at RM188.5 million.
In a press statement, Akhbar said it would be an additional heavy burden indeed for the auditor-general (AG)’s office to now be tasked to unravel the truth of the goings-on in 1MDB.
“With due respect to the officers of the AG’s office, they may not have enough expertise or necessary resources to conduct a diligent forensic audit bearing in mind the complex web and layers of issues and problems involved and the possible intentional covering of tracks,” he said.
He said with mounting pressure from all quarters to deliver the 1MDB report, it has become an onerous task for the AG’s office to do a good job.
“It is indeed a tall order to do so given that the officers have their normal duties to perform. Certainly we don’t want the AG’s office to rush and come up with a report just for the sake of doing so. The public wants to know the truth and nothing but the truth about 1MDB account,” he said.
READ: Najib, Ku Nan can stop Tabung Haji's purchase of 1MDB land: Rafizi
He said Hishammuddin’s call was very apt as the AG’s office certainly needs all the help and assistance to expedite the completion of the report.
While agreeing that 1MDB should be transparent on where the cash proceeds of the land sale were spent, Akhbar also questioned if the money was not spent on servicing outstanding interest commitments?
He said based on media reports, it appears that Lembaga Tabung Haji (LTH) had paid RM188.5 million for 1.56 acres of the 70-acre Tun Razak Exchange land owned by 1MDB which the latter paid for a measly RM194.1 million for the whole 70 acres.
“Why did the government give LTH the ‘stepchild’ treatment’ and 1MDB the preferential treatment?,” he questioned.
“Yes, of course we are now told that the land will be sold to a third party; but what if there was no ‘hue and cry’ from the depositors; LTH would have to bear the burden of owning this overpriced asset?,” he said.
He said the government now has no choice but to take the “bull by the horn” and address expeditiously the negative perception and suspicion of the rakyat over 1MDB.
READ: Tabung Haji funds shouldn't be used to 'bailout' 1MDB: Dr Mahathir
Astro Awani
Mon May 11 2015
He said with mounting pressure from all quarters to deliver the 1MDB report, it has become an onerous task for the AGs office to do a good job.
Who is Prabowo Subianto, incoming president of Indonesia?
A wealthy ex-general with ties to Indonesia's popular outgoing president and its dictatorial past, looks set to be its next leader.
Iran's supreme leader says Hamas leader's death will not halt 'Axis of Resistance'
The "Axis of Resistance", built up with years of Iranian support, includes Hamas, the Lebanese Hezbollah group, the Houthi movement in Yemen, and various Shi'ite groups in Iraq and Syria.
Putin says Russia willing to seek compromises between Iran and Israel
Russia is ready to help seek compromises between arch-foes Israel and Iran, President Vladimir Putin said on Friday, saying these would be difficult but possible.
What proposals will Russia push at the BRICS summit?
The proposal is also to establish a BRICS reinsurance company to allow uninterrupted shipment of goods and key commodities between members.
Indonesia's free meals plan in the spotlight as Prabowo readies for office
Prabowo calls the programme one of the main drivers of economic growth, eventually set to add an estimated 2.5 million jobs.
Astro AWANI's revamped English news website, AWANI International, launches on Oct 21
Astro AWANI's revamped English platform delivers in-depth global news and expert analysis to keep you informed on key developments.
Israeli strikes kill 33 people in Jabalia refugee camp in Gaza, medics say
Residents of Jabalia said Israeli tanks had reached the heart of the camp after pushing through suburbs and residential districts.
Liam Payne's ex-partner calls for media restraint after 'painful' death
Cheryl Tweedy used her statement to urge the media to remember they had a seven-year-old son, Bear, who could read the reports.
Analysts: Indonesia's strong MoF leadership team to boost investor confidence
Sri Mulyani Indrawati as head of Indonesia's Ministry of Finance is expected to instil confidence among investors.
Biden offers both a carrot and a stick to Israel as his term nears an end
Israel has frequently resisted US advice and has caused political difficulties for the Biden administration.
Putin says BRICS will generate most of global economic growth
Russian President Vladimir Putin will host a summit of the group in the city of Kazan on Oct. 22-24.
ISIS Malaysia's perspective of Budget 2025
An excellent rakyat-centric budget under the overarching principle of a caring and humane economy.
Budget 2025: Record increase in STR, SARA aid initiatives
The government will provide a significant boost to the Sumbangan Tunai Rahmah (STR) and Sumbangan Asas Rahmah (SARA) initiatives next year.
Budget 2025: EPF contributions to be made mandatory for foreign workers – PM Anwar
The government plans to make it compulsory for all non-citizen workers to contribute to the Employees Provident Fund (EPF).
What policies to expect from Indonesia's new President Prabowo
Prabowo will be open to foreign investment, his aide has said, such as by offering investors management of airports and sea ports.
Budget 2025: Govt allocates RM470 mil to empower women's participation in PMKS
The Women's Leadership Apprenticeship Program will be intensified as an effort to produce more female corporate personalities.
Israel sends more troops into north Gaza, deepens raid
Residents of Jabalia in northern Gaza said Israeli tanks had reached the heart of the camp, using heavy air and ground fire.
Indonesia ramps up security ahead of Prabowo's inauguration
Prabowo Subianto will be sworn in as Indonesia's president on Sunday with Vice President-elect, Gibran Rakabuming Raka, also taking office.
Immediate allocation of RM150 mil for local authorities, DID to tackle flash floods
Datuk Seri Anwar Ibrahim said this allocation is intended to address the recent flash floods that hit the capital and several major towns.
Budget 2025: Sabah, Sarawak to continue receiving among highest allocations - PM
Sabah and Sarawak continues to be prioritised under Budget 2025, with allocations of RM6.7 billion and RM5.9 billion respectively.