We’re already being investigated, 1MDB CEO reminds Tony Pua

(Malay Mail Online) – 1Malaysia Development Berhad (1MDB) chief executive Arul Kanda Kandasamy pointed out today that the state-owned firm is already under investigation, after DAP MP Tony Pua issued yet another call on the authorities to probe the firm for impropriety.

Arul Kanda, referring to Pua’s latest statement on the matter, accused the lawmaker of “conveniently” failing to highlight the fact that 1MDB is already the subject of several enquiries by the Auditor-General, Bank Negara Malaysia, the Royal Malaysian Police and Parliament’s Public Accounts Committee (PAC).

Pua, he pointed out, is a member of the PAC himself.

“1MDB is fully cooperating with these enquiries. Accordingly, evidence and proof relating to the company have been and will continue to be shared with these lawful authorities.

“Furthermore, 1MDB has repeatedly issued clarifications to address allegations made by various parties, including Tun Dr Mahathir Mohamad, YB Tony Pua, and The Edge media group,” Arul Kanda said in a statement here.

He went on to say that the PAC is the lawful authority to verify allegations such as whether RM42 billion has “disappeared” from 1MDB’s coffers, as repeatedly alleged by critics like Dr Mahathir.

“In the interest of fairness and due process, 1MDB trusts that YB Tony Pua will confirm that the PAC will investigate this specific allegation of ‘RM42 billion missing’ in the same way he is insisting that other allegations against 1MDB are to be investigated,” Arul Kanda said.

Earlier this morning, Pua issued a statement demanding that the Home Ministry explain its basis for sending a show-cause letter to The Edge for its coverage on the 1MDB controversy when none of the parties named in the daily’s exposes have provided evidence to prove the allegations wrong.

The DAP federal lawmaker accused the ministry of intimidating the business daily, saying the letter sent yesterday was a culmination of an entire week of demonising Xavier Justo, the former PetroSaudi International (PSI) director whose arrest in Thailand last week led to claims that he had doctored the documents he leaked to Sarawak Report.

The same documents, which purportedly contained incriminating information on 1MDB’s aborted joint venture with PSI, were later cited by The Edge in its articles on the controversy surrounding the debt-laden state-owned firm.

Pua also said that it would have made more sense if the ministry’s show-cause letter to The Edge was issued not because of its exposes on 1MDB but because the paper had published some of the statements issued by 1MDB’s top management, which he said later turned out to be “outright lies”.

One such statement is the claim by Arul Kanda that 1MDB’s redeemed Cayman Islands fund had been parked in the form of cash in a Singapore bank. The government has since confirmed that the funds are in the form of “units” and not cash.

“Should not the Home Minister therefore go after the parties who have lied and misled Malaysians over the missing billions of ringgit of taxpayers’ money?” Pua asked.