ACTION must be taken against all those who had given false statements to the Public Accounts Committee (PAC), said a former member.

“The government needs to take action against 1Malaysia Development Bhd CEO Arul Kanda (Kandasamy) and the board of directors for issuing misleading statements to PAC and for not telling the truth during PAC proceedings,” said Abd Aziz Sheikh Fadzir in a statement today.

“This is an insult to PAC and the Dewan Rakyat.”

Arul Kanda had testified to PAC in December 2015. In the run-up to the 14th general election, he had gone on a nationwide roadshow, telling people that 1MDB is not involved in any scandal.

“Unfortunately for them (the opposition), the rationalisation plan laid out in 2015 to monetise assets over time, to meet the company’s debt obligations, has been successful under my watch,” he was reported as saying in the New Straits Times last month.

“I am very proud to say 1MDB has not defaulted on any of its payment obligations. We continue to service the debts, and the rationalisation plan is on track. The company is stable, and we look forward to continuing to perform according to the plan.”

He had said the state investor was “completely transparent” under his watch.

Aziz, who is former Kulim Bandar Baharu MP, said during the 1MDB and Finance Ministry interview with PAC, he did not believe the rationalisation plan would succeed.

“With the ministry’s latest revelation, I hope Finance Minister Lim Guan Eng will tell us what happened to 1MDB’s investments through the Hong Kong-based Brazen Sky.”

He said PAC was told that US$937 million (RM3.7 billion) had been repatriated, and the remainder was still in Hong Kong.

He also asked that Lim reveal the status of 1MDB’s deposit with Aabar BVI worth US$2.55 billion.

He said the sum was listed as a “collateral” for a guarantee for Aabar PJS and compensation to stop the sale of an independent power producer.

“Malaysians need the real explanation behind this 1MDB deposit, and the US$3.5 billion loan from IPIC.”

He said he hopes Lim will let the public know what happened to 1MDB’s US$1.5 billion investment in an European company based in the Middle East.

“PAC had received information about this investment, and we were suspicious as to whether it (the company) exists.”

Aziz lost the Kulim Bandar Baharu seat to PKR secretary-general Saifuddin Nasution Ismail in GE14. – May 23, 2018.