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Opposition MP Tony Pua wants to know why 1MDB is not suing KPMG for its part in the sovereign wealth fund’s financial scandal. – The Malaysian Insight file pic, May 11, 2021.
1MALAYSIA Development Bhd (1MDB) should sue its former auditor KPMG Malaysia for negligence in its audit of the state investment firm’s 2010-2012 financials, DAP lawmaker Tony Pua said.
The Damansara MP said KPMG, despite failing its audit duties, has “been recalcitrant” and not arrived at any settlement with the government, unlike another of 1MDB’s former auditors, Deloitte Malaysia.
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MP SPEAKS | Where’s 1MDB suit against former auditor KPMG?
Modified3:36 am
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MP SPEAKS | Yesterday, 1MDB and its former subsidiary, SRC International Sdn Bhd filed a total of 21 suits against various parties, including former prime minister Najib Abdul Razak, former 1MDB office bearers like Che Lodin Wok Kamaruddin, and former chief executive officers (CEOs) of 1MDB Shahrol Azral Ibrahim Halmi, Arul Kanda Kandasamy and Mohd Hazem Abdul Rahman.
Also named in the suits are fugitive businessperson Low Taek Jho (Jho Low), his father Larry Low Hock Peng, sister Low May Lin and Jho Low s close associate Eric Tan Kim Loong.
KUALA LUMPUR (May 11): Opposition lawmaker Tony Pua said today the Malaysian government should be applauded for filing more than 20 civil suits to recover losses suffered by 1Malaysia Development Bhd (1MDB) and SRC International Sdn Bhd.
However, conspicuously missing from the list of suits is a case against KPMG Malaysia, which audited 1MDB s financials for three years from March 2010 to March 2012, Pua said in a statement today. Where is the 1MDB suit against its former auditor KPMG ?” said Pua, who is DAP s national publicity secretary.
Pua’s statement today followed the Ministry of Finance’s (MoF) statement yesterday that in the government s continuing efforts to recover losses suffered by 1MDB and SRC, the ministry confirmed that last Friday, legal representatives of both entities filed a combined total of 22 civil suits.
MP SPEAKS | Don t hide serious flaws in early warning system
Modified10 May 2021, 3:55 am
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MP SPEAKS | Unless the government intends to paralyse or permanently shut down retail malls and supermarkets, it must suspend the use of the deeply flawed Hotspots Identification for Dynamic Engagement (Hide) system with immediate effect.
The government meant well in implementing such a system for potential Covid-19 breakout areas, in order to steer the public away from areas with elevated risk of contracting the virus. Together with Bank Negara Malaysia, which somehow got involved in this project, the government rolled out the early warning system recently.
MP SPEAKS | Why hasn t govt acquired Plus to save billions per year
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MP SPEAKS | Senior Works Minister Fadillah Yusof announced the freezing of toll rates for several Klang Valley highways for 2021, purportedly “in view of the rising cost of living due to the Covid-19 pandemic”.
As a result, the government must pay compensation of RM2.25 billion to these highway operators.
I wrote on Monday that the government should follow through on the proposal to acquire and restructure the Gamuda highways of Shah Alam Expressway (Kesas), Damansara-Puchong Expressway (LDP), Sprint Expressway, and Smart Tunnel which will save the government hundreds of millions of ringgit in annual compensation as a result of freezing toll rates.