Najib not paid for 1MDB role

Najib not paid for 1MDB role

KUALA LUMPUR - Prime Minister Datuk Seri Najib Tun Razak (pic) was not paid anything for his role as chairman of the 1Malaysia Development Berhad (1MDB) advisory board.

Najib, in his capacity as Finance Minister, clarified that he did not receive any remuneration for his position in the government-backed investment arm.

"The chairman of the 1MDB Advisory Board is not paid any annual gratuity or took any fees, gratuity or interest," he said in the reply to Dr Ko Chung Sen (DAP - Kampar) which was published on Tuesday.

Najib added that the advisory board meeting was held twice, but did not elaborate whether this was in an annual or five-year span.

Altogether, there have been 72 1MDB board meetings the past five years - 11 in 2009, 16 in 2010, 13 in 2011, 10 in 2012, eight in 2013 and 14 in 2014.

The details of the board meetings provided were based on the information submitted by 1MDB's management to the Finance Ministry, Najib said.

Dr Ko had requested for Najib to disclose the number of board meetings held by 1MDB every year for the past five years, the number of meetings attended by Najib as chairman of the Advisory Board each year and the annual remuneration he received for his position as chairman.

Both the Auditor-General and the bi-partisan Public Accounts Committee (PAC) are conducting an inquiry into the debt and cashflow problems of 1MDB, which has debt of about RM42bil. The PAC began its probe into 1MDB on May 19.

Last Wednesday, Bank Negara opened a formal enquiry to examine if there are any contraventions of financial rules and regulations with respect to issues surrounding 1MDB.

The Bank Negara investigation will also entail taking statements from individuals involved in the governance process and obtaining information from other relevant domestic and foreign parties.

More about

Purchase this article for republication.

BRANDINSIDER

SPONSORED

Most Read

Your daily good stuff - AsiaOne stories delivered straight to your inbox
By signing up, you agree to our Privacy policy and Terms and Conditions.