RCI on 1MDB not needed

KUALA LUMPUR: The Finance Ministry (MOF) does not see the need for a Royal Commission of Inquiry (RCI) as the issues related to 1Malaysia Development Bhd (1MDB) have been made public, said Second Finance Minister Datuk Johari Abdul Ghani (pix).
"I think this is the most extensive coverage of any issue in this country. We're not talking about only running it for one month, we're talking more about three to four years. Across the world everybody covered (this issue). So do you think we need an RCI? I don't think so. Just wait for the legal process to go through," he told reporters at a press conference after the 31st National Economic Briefing yesterday.
Johari also said that there is no need for Parliament to convene on an impromptu basis following the US Department of Justice's (DOJ) civil lawsuits.
"I don't see the urgency to discuss in Parliament because everything is actually already made public … we need to have all these individuals (named in the court papers) to respond so let them go and respond. As far as we are concerned, we are not going to back anybody. We're going to make sure we give full cooperation. If they want cooperation from 1MDB or MOF, we will give it," he added.
Johari said the government is committed to the legal process and will not protect any individuals that have committed offence in any country outside of Malaysia.
He added that the 1MDB issue is an expensive lesson for the government and MOF will ensure that such issues will not be repeated in any MOF Inc companies.
"During my time, I want to make sure that all these companies under MOF will not be in this position anymore," Johari said.
However, he declined to share further details when asked about the specific steps he intends to take. 
Asked whether police investigations into 1MDB's management should be sped up considering DOJ's lawsuits, Johari said it involves a different jurisdiction and how long the investigation takes depends on how complicated the issue is.
He added that the authorities must be allowed to carry out their investigation and MOF cannot interfere in the process, but assured that necessary action will be taken against whoever is responsible.
Johari also said that 1MDB's management did not report to any of the individuals listed in the court papers and stressed that 1MDB had only dealt with International Petroleum Investment Company (IPIC) and its unit Aabar Investments PJS.
"The detailed mechanics of all these, I do not want to engage with you in detail because there is a dispute going on. I do not want to jeopardise our case, so we keep it that way," he said.