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Enough checks and balances in place to ensure no more 1MDB - Kadir Jasin

 

KUALA LUMPUR (Nov 18): The government is putting in place enough check and balance as well as reforms to ensure that there would be no chance of the 1Malaysia Development Bhd (1MDB) happening again, says Prime Minister's Special Advisor on Media and Communications, Datuk A. Kadir Jasin.

He said the reforms would safeguard the country under any government and ensure that they would not be able to establish another 1MDB.

"Even if this government gets kicked out in the coming election, I hope and I think you must make it happen that the reforms cannot be rolled back.

"So, that is the thing that the government has done," he said during a panel discussion session at the Institutional Investors Council Malaysia (IIC) - Securities Industry Development Corporation (SIDC) Governance Convention 2019 here, today.

Additionally, Kadir said corrective measures are also being taken to restructure poorly managed government-linked companies (GLCs).

"There are very good GLCs and also some very poorly managed GLCs. We have seen in the case of one or two -- which are agencies rather than companies -- where civil cases are being taken against the chairman, board members and senior managements.

“I think this should send a strong signal to the corporate sector, particularly the GLCs, that the government will not tolerate any hanky-panky in the management of these companies," he added.

 

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