The latest report that Abu Dhabi’s state-owned International Petroleum Investment Company (IPIC) had informed the London Stock Exchange that neither itself nor its unit Aabar Investments PJS have any links to British Virgin Islands-incorporated firm named in a report into the troubles of the RM50 billion 1MDB scandal should have blown to smithereens the mirage that the Public Accounts Committee (PAC) Report on the 1MDB scandal is the be-all and end-all of the RM50 billion 1MDB global scandal.
The London development today is the latest proof that the PAC Report on the 1MDB scandal is only the “tip of an iceberg” and that the PAC Report on the 1MDB scandal is the first important step to open up the intricacies, complexities and enormities of the 1MDB scandal and not the final and definitive word to bring closure to the 1MDB scandal.
I had said earlier that I fully agree with the statement by human rights group Proham that allegations of criminal breach of trust surrounding state-owned fund 1MDB is not the sole responsibility of its former chief executive officer.
The PAC, in its 1MDB Governance Management Control Report said that former IMDB CEO Shahrol Azral must take responsibility for the government-owned strategic investment company’s weaknesses and shortcomings.
It is impossible that Shahrol was solely responsible for the RM50 billion 1MDB scandal although Shahrol was 1MDB director for the past seven year since the inception of 1MDB and even when it was Terengganu Investment Authority (TIA), apart from being the Chief Executive Officer of 1MDB for four years from 2009 to 2013. Continue reading “Mahathir among the speakers at Shah Alam forum on “PAC 1MDB Report: Najib – Complicit or Innocent?” on Thursday”