Malaysian Chinese Association

20 June 2017

For Immediate Release

Media Statement By Dato' Sri Liow Tiong Lai

Minister of Transport, Malaysia

1. I refer to the United States Department of Justice (DOJ) civil lawsuit, filed recently, against certain assets.

2. The DOJ must prove its allegations in a competent court of law, otherwise the matter remains inconclusive at this juncture.

3. Malaysia has conducted multiple investigations into 1MDB, as evidenced by the detailed report produced by the bipartisan Public Accounts Committee (PAC), which was in turn based on the findings of the Auditor General Department. In addition, Bank Negara Malaysia (BNM) conducted an investigation and subsequently imposed a fine on 1MDB. The Royal Malaysian Police (PDRM) continues with its investigations independently, without fear or favour. The Government has therefore taken all necessary actions to look into the 1MDB issue.

4. The problems with 1MDB have been clearly articulated, i.e. a poor business model, weak management/governance and excessive reliance on debt. These are painful but important lessons to be learnt. Through the professional management and strong leadership of Mr. Arul Kanda, the 1MDB rationalisation plan has been successfully implemented.

5. The 1MDB issue has been over politicised by irresponsible parties, in their efforts to overthrow a democratically elected government. And now, these irresponsible parties have gone to the extent of willing to work with foreign forces to achieve their agenda which is unfortunate.

6. Nevertheless, I am pleased to note that both the Attorney General’s Chambers and 1MDB have committed to cooperate with the DOJ civil lawsuit, subject to international protocols governing such matters. This open and transparent approach proves that there is nothing to hide. In fact, the Prime Minister himself has assured Malaysians, multiple times, that should any wrongdoing be determined by a court of law, then, action will be taken against those responsible.

-MCA online-