Set up RCI to probe 1MDB, says Amanah Youth

Set up RCI to probe 1MDB, says Amanah Youth

Amanah Youth deputy chief Faiz Fadzil says IMDB should be probed independently so that any money lost can be recouped.

Faiz-Fadzil
SHAH ALAM:
An Amanah youth leader has called for the setting up of a Royal Commission of Inquiry to probe 1Malaysia Development Berhad, in the hope that the country would be able to recoup its losses.

Amanah Youth deputy chief Faiz Fadzil said they also wanted Malaysian businessman Jho Low, and Riza Aziz, who is the stepson to Prime Minister Najib Razak, to be investigated

1MDB was one of the motions approved for discussion at the Parti Amanah Negara (Amanah) National Convention 2016, here.

“1MDB could affect the country’s economy as the loans are tied up to government bonds. Our country’s economy has taken a beating. A lot of subsidies have been cut including those for education, cooking oil, and others.

“The people are already burdened with the GST (goods and services tax),” he said during the debate.

He said foreign direct investment (FDI) has also reduced as foreigners have lost confidence in the country’s economy.

“We are ashamed of going to Thailand because our currency (ringgit) is not accepted there anymore.”

The Financial Times in a recent report said China “had been approached” to help 1MDB pay off a US$6.5 billion (HK$50.4 billion) debt to an Abu Dhabi state investment arm.

The Financial Times report was however refuted by 1MDB chairman Irwan Siregar Abdullah recently.

Najib has always denied any wrongdoing and insisted the government is cooperating with investigators who are probing the fund.

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