SAYING he finds Arul Kanda Kandasamy “utterly dishonest and untrustworthy”, Lim Guan Eng has instructed the Finance Ministry’s legal adviser to review the 1Malaysia Development Bhd president’s position.

The finance minister said he has instructed his ministry to take steps to appoint PwC to conduct a special position audit and review of 1MDB, so that Malaysians will know 1MDB’s true financial state of affairs.

“We will then be able to determine the cost of the shenanigans to taxpayers. We will submit the PwC report to the 1MDB special committee set up by the prime minister once it is completed,” he said after a meeting with Arul Kanda at the ministry today.

He said he was taken aback when Arul Kanda told him that all financial matters were handled only by 1MDB’s chief financial officer.

“He is absolutely uncertain about the value of these ‘investments’, or whether they even exist in the first place.

“It is completely unbelievable that a highly paid and ‘experienced’ investment banker can be so irresponsibly clueless as to not know whether RM9.8 billion worth of investments are even real.”

Lim said Arul Kanda’s remarks were “shocking and preposterous”, given that in the run-up to the 14th general election, he had given ceramah in several states where he spoke about the financial viability of 1MDB and the soundness of its investments.

“Arul Kanda is today singing a completely different tune from what he had sung to the Public Accounts Committee, as recorded in the Hansard.” – May 23, 2018.