KUALA LUMPUR, March 25 — Putrajaya has formed a special task force to look into 1 Malaysia Development Berhad’s (1MDB) performance so far, as well as the debts borne by the state-owned investment firm, a deputy minister said today.

In his ministerial winding up speech, second Finance Minister Datuk Seri Ahmad Husni Mohamad Hanadzlah said that the task force will include himself, minister in the Prime Minister’s Department Datuk Seri Abdul Wahid Omar, Chief Secretary to the Government Tan Sri Ali Hamsa as well as the Treasury secretary-general Tan Sri Irwan Serigar Abdullah as panellists.

“We will be looking at the overall performance of 1MDB and the debt borne.

“In addition, we will also be asking CIMB to come in as a third party to evaluate (1MDB), so we can ensure that we can get a fair evaluation,” Ahmad Husni told Parliament today.

He also acknowledged the fact that 1MDB’s problem lies with its cash flow, adding that the entity’s financial woes would end once its initial public offering (IPO) for its power plant assets take off.

“We have no problems with the principal as they are long-term debts. But in terms of the interests, we are confident that once the IPO is done, it will decrease.

“With proceeds from the land that can be sold off and from the joint ventures, we hope to not only pay off the interests but also the debts, that is the principal,” he added.

This is the second known task force on 1MDB, after an initial one comprising officials from the Attorney-General’s Chambers and the police was formed.

On March 9, Inspector-General of Police (IGP) Tan Sri Khalid Abu Bakar announced the set-up of a high-powered task force to investigate all complaints on 1MDB.

Datuk Seri Najib Razak has come under fire from federal opposition lawmakers who alleged the prime minister has a personal involvement in 1MDB, with DAP MP Tony Pua blaming him for creating the “biggest scandal ever in Malaysian history”.

The prime minister has since filed a defamation suit against Pua.

1MDB came under intense scrutiny after a British paper, The Sunday Times in collaboration with whistle-blower site Sarawak Report, ran an exposé on March 1, alleging of impropriety in 1MDB’s venture with oil exploration and production firm PetroSaudi International.

The allegations have since been denied by those named in the report.