The Public Accounts Committee (PAC) report on 1MDB proves Dr Mahathir Mohamad made a false allegation that RM42 billion was missing from 1MDB, said Prime Minister Najib Abdul Razak.
“He was motivated by personal interest, not national interest, and a desire to unseat the government,” he added in a media statement this afternoon.
On the same note, Najib acknowledged that the report identified weaknesses in 1MDB's capital structure and management.
“We must ensure that lessons are learned, and action would be taken if any evidence of wrongdoing is found,” he said.
Najib said that following multiple grave allegations made against 1MDB, such as Mahathir’s RM42 billion charge, the cabinet - under his instruction - had asked the auditor-general in March last year to conduct an independent investigation into 1MDB's financial accounts.
“To ensure this was a transparent process, we also instructed that the findings be passed for review to the PAC – a bi-partisan body that includes opposition parliamentarians.
“After an exhaustive process, the PAC today released a report with its findings to parliament. This report represents a consensus by PAC members, and its findings are based on facts and hundreds of hours of reviews and investigations.
“I would like to thank the National Audit Department and PAC for producing a comprehensive, conclusive, and definitive report,” he added.
The prime minister also said his administration would continue to focus on its economic plan to strengthen the economy, which has continued to show resilience in the face of global challenges.
Najib has repeatedly denied abusing public funds for personal gain and blamed such allegations on those conspiring to topple him from power.
Meanwhile, 1MDB has also accused its detractors of recycling allegations with a political motive.
Related reports
PM: PAC report proves Dr M's 'RM42b missing' claim false
PAC member blames Najib for 1MDB, Hisham says too soon
1MDB paid billions, but no proof it went to the right Aabar, says PAC
SRC in the dark over who gave order to transfer RM42m to Najib
WSJ: US Federal Reserve warns Goldman Sachs over 1MDB deals
1MDB's ex-boss should be held responsible for weaknesses, says PAC
1MDB board of directors offer to resign after PAC report
1MDB auditors terminated after asking too many questions, PAC finds
PAC: 1MDB board didn't approve US$700m transfer to Good Star
Gov’t has RM20 billion at stake in 1MDB, PAC confirms
Auditor-general's report on 1MDB still under OSA, says Pandikar
Not fair to single out Najib for 1MDB's weaknesses, says Razali
In Zaid, Khairuddin, Bar vs Apandi, AG's Chambers wants cases heard together