Najib responsible for 1MDB reply on Singapore funds, says Dr M

Prime Minister Datuk Seri Najib Razak is responsible for his written reply in the Dewan Rakyat on 1Malaysia Development Bhd’s (1MDB) assets in Singapore, insists Tun Dr Mahathir Mohamad, after Putrajaya said it was prepared by ministry officials. The former prime minister wrote on his blog that a minister must always check and ensure the replies written in his name were accurate. “An answer to a question for the prime minister or minister by a parliamentarian, even though prepared by officers, is still the responsibility of the minister. He is accountable should there be any mistake. “Even though parliamentary proceedings are immune from the law, if the answer has no basis in truth, it is still false and the answer is no longer immune once it is published for the public and not refuted.” In March, Najib said in a written reply that the remaining US$1.103 billion (RM4.08 billion) of 1MDB’s investment funds was transferred to its account in BSI Bank in Singapore to ease the facilitation of transactions. But in another reply on May 19, Najib said the balance of the investment redeemed by 1MDB were assets in US dollars for the purpose of balancing its liabilities which were also in dollars. On Sunday, the Finance Ministry said the documents on the financial status of 1MDB at BSI Bank in Singapore were written and checked by its officials based on information from the company. The Finance Ministry said it had amended the original reply on March 10 so as not to create confusion about the financial status of 1MDB in Singapore BSI, in line with requirements of Parliament. As such, the ministry said the accusation by Dr Mahathir that same day that Najib had lied, was irrelevant. “Officers who prepare the answers are not immune. They are still responsible for the content of the replies,” said Dr Mahathir today. “If it was found that they did not ensure their response had no basis in truth and concrete evidence, they can be accused of deliberately attempting to protect the minister by hiding the truth. “In other words, the minister can also be accused of lying, along with the officer.” Dr Mahathir also wanted to know whether 1MDB had parked its cash in Singapore because it was involved in money laundering, or was simply lying to hide the fact that the money had disappeared. Najib had previously said the cash was being kept in Singapore to facilitate withdrawals, since Bank Negara Malaysia’s approval was needed for transactions over RM50 million. But Dr Mahathir said such approvals should not be a problem for 1MDB if the cash, if it did exist, was obtained through legal means. “If it cannot be proven that the cash is in Singapore, then once again, the officer and the minister are guilty of lying.” Criticism has been mounting after 1MDB, wholly-owned by the Finance Ministry, chalked up debts of up to RM42 billion. The auditor-general is currently looking through 1MDB's books, with a preliminary report expected to be submitted to Parliament in June, while the Public Accounts Committee (PAC) started its investigation into the company last Tuesday. – May 28, 2015.