LIM Guan Eng got into a heated exchange with the opposition over his answers on 1Malaysia Development Bhd in the Dewan Rakyat today.

The finance minister and opposition lawmakers argued over the former’s responses on the state investor’s assets and liabilities, and how the MCA-linked Koperasi Jayadiri (Kojadi) had received funds from the 1MDB Foundation.

Lim said 1MDB’s debt amounted to RM51.015 billion, while the value of its assets has yet to be tallied.

Unhappy with the answers, Ahmad Maslan (Pontian-BN) shot back, quoting former 1MDB chief executive Arul Kanda Kandasamy, that the company’s current assets, which stand at RM43 billion, exceeded its current liabilities, which amount to RM31 billion.

“The current liabilities have been verified, but it seems like it is so cumbersome for the Finance Ministry to value the assets.”

To this, Lim said although the principal debt amounted to RM31 billion, the RM51.015 billion is inclusive of interest.

This does not take into account the RM8.9 billion that has been repaid, he added.

He said the value of 1MDB assets is difficult to determine, pointing to the three audit firms that had taken on the job, but were replaced.

Using as an example the “detoxification process” of the TRX Exchange, Lim said Lendlease, the company involved in the project, was “left in a state of concern” and could only resolve its problems after the Pakatan Harapan government intervened.

“I hope that it is (understood) that this is the calculation… and the fact is, 1MDB is a bane to the country and has damaged Malaysia’s reputation because of the kleptocracy tag.”

Barisan Nasional has for months said it is time for PH to “move on” and stop using the 1MDB scandal as an “excuse” for all of Malaysia’s ills.

On Kojadi, Lim said several organisations linked to BN parties were beneficiaries of 1MDB funds.

He said the 1MDB Foundation’s accounts showed that RM15 million was given to Kojadi, and the foundation got back RM6 million from the same entity.

“Hence it is untrue to say Kojadi did not receive 1MDB funds.”

An annoyed Ahmad questioned whether Lim would ask the 5,800 haj pilgrims who went to Mecca with the help of the 1MDB Foundation to return the money.

“I think Pontian (Ahmad) wants to play up sentiments because that is not in line with accounting principles,” said Lim, who is also Bagan MP.

“When we said the money had been channelled to organisations, I said ‘organisations such as Kojadi’.

“Why did this organisation receive money? It was due to its political ties. So, don’t derail my answers to the supplementary questions.”

Wee Ka Siong (Ayer Hitam-BN) said Lim should not be talking about Kojadi, as the 41 civil forfeiture suits filed by the Malaysian Anti-Corruption Commission to recover RM270 million in 1MDB funds are now in the courts.

Therefore, it is sub judice to delve into the issue, he said.

In response, Lim said Kojadi is not among the 41 respondents.

Speaker Mohamad Ariff Md Yusof said the minister did not commit sub judice as he never spoke about matters that could affect the case’s merit. – July 11, 2019.