IMDB strategic review disappointing, says critic

The recent announcement by 1Malaysia Development Bhd (1MDB) on its business review proved that the company had taken the short and easy way out in addressing the pressing issues in the investment vehicle.

UMNO Batu Kawan vice-president Datuk Khairuddin Abu Hassan said review from 1MDB chief executive officer, Arul Kanda, was disappointing and too simplistic, for a dying company.

“Will review state that the debts have to be settled by selling or looking for a new strategic partner for the company to bear the debt which is now leaning on their other assets,” he said when contacted by Astro AWANI.

“Even a Form Six student can come up with such a review,” he said commenting on Arul’s review on Wednesday.

He also accused Arul of covering up the real issues behind the debt-ridden company and refusing to answer questions raised so far.

The issue of 1MDB gained attraction when the fully government-owned company's debts stood at almost RM38 billion.

It also criticised of not only the Opposition but from three former Finance Ministers - Tengku Razaleigh Hamzah, Tun Dr Mahathir Mohamad and Tun Dr Mahathir Mohamad dan Tun Daim Zainuddin.

However, 1MDB had guaranteed that all its investments are managed professionally and its finances are in good books.