PAC postpones session with 1MDB CEOs

The Public Accounts Committee (PAC) has postponed its session with 1Malaysia Development Berhad (1MDB) CEO Arul Kanda Kandasamy, and former CEO Datuk Shahrul Ibrahim Halmi, which was initially scheduled for tomorrow.

PAC chairman, Datuk Nur Jazlan Mohamed said this was because both men are currently overseas.

“The PAC secretariat received a letter from the Finance Ministry requesting for a postponement, and after discussing this just now, the members have agreed to it.

“Arul Kanda and Shahrul Ibrahim have been given a one-month extension. They need to be present for their session, and they need to come prepared with the necessary documents,” he said after chairing a meeting with PAC members in Parliament today.

Nur Jazlan added that the postponement did not mean that the investigation proceedings on 1MDB will be delayed.

Shahrul Ibrahim was 1MDB’s first CEO from February 2009 until March 2013, while Arul Kanda was appointed in January this year.

Meanwhile, Nur Jazlan also said PAC will be taking statements from three firms which had audited 1MDB’s accounts.

He said the firms – Deloitte, KPMG and Earnst & Young – are the main witnesses in the proceedings.

1MDB had been under the spotlight over the last few months after various quarters had alleged mismanagement of funds and poor investments by the government-owned strategic development company.