1MDB: TI Malaysia backs proposal to appoint an independent international auditor
Astro Awani
May 11, 2015 11:06 MYT
May 11, 2015 11:06 MYT
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.
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.
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.