Don't make any conclusions on 1MDB before PAC - Nur Jazlan

It is still too early for the Public Accounts Committee (PAC), or anyone for that matter, to make a conclusion on the (mis)management of 1Malaysia Development Berhad (1MDB).

PAC chairman, Datuk Nur Jazlan Mohamed said the committee needed more time to conduct a full probe on this issue.

“Today is the first day of proceedings. It was attended by all PAC members including those from the Finance Ministry, Economic Planning Unit, National Audit Department, Public Services Department and the National Accountant Department,” he told a media conference at Parliament lobby today.

He said, today’s proceedings were focused on the government’s control of the management and investments of 1MDB since it was established in 2009.

“So far, we have received full cooperation from all parties involved.

“After this, PAC will be calling 1MDB’s top management as well as anyone who has ever been involved in the company for the probe.

“Investigations will then be continued with the Board of Directors and later, the audit firm involved in affirming the company’s financial status.

“Therefore, I ask that no party overtake PAC in making any conclusion regarding this matter,” Nur Jazlan stressed.

The Pulai MP also said the proceedings did not have a particular time frame to adhere to, and will be continued until everything about 1MDB’s management is looked into.

“The PAC wants to see how the company’s management has been regulated since its incorporation,” Nur Jazlan added.

The PAC had, on April 30, unanimously agreed to launch a probe into the management of 1MDB, a wholly government-owned strategic development company.

The decision for the probe follows various speculations and allegations about mismanagement of funds in the company, and clarity had been demanded in the matter of public interest.