KUALA LUMPUR, Aug 6 — A preliminary audit report by PricewaterhouseCoopers (PwC) on 1 Malaysia Development Berhad (1MDB) today revealed that the previous government had failed to comply with basic good corporate practices.
Finance Minister Lim Guan Eng said the “shocking” revelation was a result of a brief meeting with the public accountant firm at the Parliament building today.
“From what we gathered from that report, basic good corporate governance and management principles were not complied with,” he told a press conference at the Dewan Rakyat lobby here.
Lim, however, refused to divulge further information, as the report is merely a preliminary one, but said that it will be made public soon.
In May, the Finance Ministry appointed PwC to review and audit the scandal-ridden state fund following meetings with 1MDB directors and its president, Arul Kanda Kandasamy.
Commenting on his legal action to claim RM2.5 million from Arul as part of his remuneration for his service during the first quarter of 2018, Lim said he has received the Attorney-General (AG)’s go-ahead to pursue the case.
“I’ve spoken to the AG and he is in full agreement that we should pursue this case,” he said.
Lim also called on former prime minister Datuk Seri Najib Razak to stop making allegations that the Pakatan Harapan (PH) government is trying to divert the public’s attention by making continuous exposés.
“We have never avoided issues. We have always faced all problems heads on.
“We can also say that Najib is suddenly making so much noise to distract attention from Umno’s Sg Kandis loss.
“Stick with the issue at hand. If he does not have any proof, then there is no point we keep on having these conversations through the media,” he said.
The duo have engaged in a war of words over Arul’s remuneration for the past month.
