Probe Najib too, says Rafizi

KUALA LUMPUR: Authorities investigating the 1Malaysia Development Berhad (1MDB) should also probe Prime Minister Datuk Seri Najib Abdul Razak (pix) as the sovereign fund needs his approval in decisions affecting federal government guarantees.
Rafizi Ramli (PKR-Pandan) said Article 117 of 1MDB’s Memorandum and Articles of Association (M&A) clearly connects Najib to any major decisions involving investments made by the debt-laden entity.
“If everyone in 1MDB is being investigated by the authorities, it is only proper if Najib is investigated as well because these decisions cannot be made without his express, written approval,” Rafizi said during a press conference at the Parliament lobby today.
He said this means that Najib, who is also Finance Minister, would have known about 1MDB’s controversial business deals as the sovereign fund’s first RM6 billion bond is guaranteed by the government in 2009, and all subsequent deals would have affected the guarantee.
Rafizi urged the police, the Auditor-General’s Department, and the Malaysia Anti-Corruption Commission (MACC) to open investigation papers on Najib whom he said should explain his involvement to the Parliamentary Public Accounts Committee (PAC).
Furthermore, he said, Najib’s refusal to disclose details on loan and interest repayments will hinder public accountability as members of Parliament and the public will not be able to monitor 1MDB effectively.
Rafizi said because of the non-disclosure, details behind 1MDB’s repayment of a RM2 billion loan to RHB Bank with billionaire Ananda Krishnan’s money is still unknown.
“Until now, we do not know the terms and rates of repayment to Ananda Krishnan for the bailout,” he said.
Rafizi also chided Najib for giving a written reply in Parliament that he cannot disclose loan and interest repayments for all 1MDB bonds or debts in 2015 as the fiscal year has not ended yet.
He said the information would have already been determined in the financial statements and audits from 2014 and Najib’s answer is more befitting for a Standard Five pupil than for Parliament.