The Sunday Star reported that the Prime Minister, Datuk Seri Najib Razak will brief UMNO division information chiefs today on the 1MDB controversy as he steps up efforts to counter mounting attacks against him on the issue.
The question that immediately comes to mind is why Najib, who is the final approving authority for all 1MDB decisions, in law and in fact, prepared to brief UMNO division representatives but not Parliament on the 1MDB controversy?
Najib is the final approving authority for all 1MDB decisions in law and in fact because Najib is responsible in law as 1MDB is a government company and as the Prime Minister as well as Finance Minister he must accept full and final responsibility for all of 1MDB actions although he may not be responsible for its day-to-day operations; and responsible in fact, because under Clause 117 of the 1MDB Memorandum and Articles of Association Agreement (M&A), the Prime Minister must give his written approval for any of 1MDB deals, including the firm’s investments or any bid for restructuring. Continue reading “Why is Najib, as final approving authority for 1MDB, in law and in fact, prepared to brief UMNO division representatives but not Parliament on 1MDB controversy?”