1MDB task force to be set up

PETALING JAYA: The government will set up a special task force to look into 1Malaysia Development Berhad's (1MDB) performance, the Dewan Rakyat was told today.
Finance Minister (II) Datuk Seri Ahmad Husni Mohamad Hanadzlah, in his winding-up speech on the royal address, said the task force will include him, Minister in the Prime Minister's Department Datuk Seri Abdul Wahid Omar, Chief Secretary to the Government Tan Sri Ali Hamsa as well as Treasury Secretary-General Tan Sri Irwan Serigar Abdullah.
He said the task force will be looking at the overall performance of 1MDB and the debt it has accumulated.
"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 said.
"We will also look at how much 1MDB can be valued at, how to use the land that it has, and joint ventures and more, which we believe, will solve 1MDB's cash-flow problems," he said.
Ahmad Husni also acknowledged the fact that 1MDB's problem lies with its cash flow, adding that the state-owned investment firm'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," he added.