Talk of 1MDB’s IPO is nonsense, says Khairuddin


The 1MDB critic attacks Ahmad Husni Hanadzlah, Arul Kanda and the MACC chief.

(Free Malaysia Today) – 1MDB critic Khairuddin Abu Hassan has denounced the government’s decision to approve a RM950 million “standby credit” for the company, saying this violated the recent Cabinet decision against further cash injections into the troubled government-owned firm.

In a press statement today, Khairuddin also urged the police, the MACC, Bank Negara and the Public Accounts Committee to “open their eyes wide to the real situation in 1MDB”.

He continued his attack on 1MDB President and CEO Arul Kanda Kandasamy, lambasting him for “continuing to lie about the company’s stability” in the face of so many negative revelations.

“For how long does Arul Kanda want to continue insulting the public’s intelligence?” he asked.

He also told Second Finance Minister Ahmad Husni Hanadzlah to stop “spewing nonsense” about 1MDB’s intention to make an initial public offering (IPO).

In confirming the ‘standby credit’ yesterday, Husni told Parliament the company’s cash-flow problems would be solved with an IPO.

Khairuddin said Husni was apparently unaware that any company wishing to make an IPO must first have a good track record.