KUALA LUMPUR, Dec 1, 2015:

After hearing evidence from 1Malaysia Development Berhad (1MDB) chief executive officer Arul Kanda Kandasamy on Monday, the Public Accounts Committee (PAC) is satisfied with the overseas investments by the Finance Ministry-owned company.

However, PAC chairman Datuk Hasan Arifin said in a statement that it would recall Arul Kanda to resume the proceedings.

“Overall, the PAC is relieved 1MDB conducted transactions and overseas investments with reputable foreign companies.

“The PAC, however, will call again Arul Kanda Kandasamy on Dec 18, at 9am, in order to resume the proceedings.”

Commenting on today’s proceedings, Hasan said the PAC was satisfied with Arul Kanda’s explanation.

“All members of the PAC had the opportunity to ask questions about issues related to the 1MDB.

“Arul explained all questions properly and thoroughly.”

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