Prominent Malaysian banker Nazir Razak slams 1MDB board on Instagram

Prominent banker Datuk Seri Nazir Razak has lashed out against the board of debt-laden state fund 1Malaysia Development Berhad (1MDB) again, this time taking them to task on his Instagram. -- PHOTO: REUTERS
Prominent banker Datuk Seri Nazir Razak has lashed out against the board of debt-laden state fund 1Malaysia Development Berhad (1MDB) again, this time taking them to task on his Instagram. -- PHOTO: REUTERS

PETALING JAYA (THE STAR/ASIA NEWS NETWORK) - Prominent banker Datuk Seri Nazir Razak has lashed out against the board of debt-laden state fund 1Malaysia Development Berhad (1MDB) again, this time taking them to task on his Instagram.

The CIMB group chairman posted on Instagram Tuesday the front page of a financial news daily slamming 1MDB's president and group executive director Arul Kanda Kandasamy as well as its former CEO Datuk Shahrol Azral Ibrahim Halmi for not being able to attend an inquiry by the Public Accounts Committee (PAC) inquiry.

Nazir posted the picture together with the comment: "Your company has triggered a national crisis and you can be too busy to face Parliament? Unacceptable."

 

Your company has triggered a national crisis and you can be too busy to face parliament? Unacceptable.

A photo posted by Nazir Razak (@nazir.razak) onMay 25, 2015 at 4:29pm PDT

The PAC had on Monday set a new date for Arul and Shahrol to appear before the inquiry after the two sought a month's extension before they face the PAC.

They were originally scheduled to meet the PAC on Tuesday.

The PAC was notified by the Finance Ministry that Arul and Shahrol were unable to attend as they were away on official business.

PAC chairman Datuk Nur Jazlan Mohamed told the media on Monday, "They requested 30 days ... We may give them less."

He added that they would be calling auditors Deloitte, KPMG, and Ernst and Young as their next witnesses.

The bi-partisan PAC is made up of eight MPs from the ruling Barisan Nasional (BN) coalition and five opposition MPs.

1MDB, set up by the gGovernment in 2009 to drive strategic investments, has come under heavy criticism for accumulating debts of RM42bil and is now facing cash flow problems.

Nazir had earlier this month criticised the board, saying that its directors should resign if they are unable to explain the poor financials of the fund. 

Its troubles have resulted in former premier Tun Dr Mahathir Mohamad calling for the resignation of Prime minister Datuk Seri Najib Tun Razak, who is also Finance Minister and chief adviser of 1MDB.

The PAC began its probe on the strategic fund on May 19.

Shahrol was the first CEO of 1MDB until he left the strategic fund for the economic reforms agency Performance Delivery Unit (Pemandu). He was the CEO from February 2009 to March 2013. Arul took over from CEO Mohd Hazem Abdul Rahman in January.