1MDB president and chief executive officer Arul Kanda has assured BN MPs that an importance announcement would be made soon, which would reveal the success in handling all the issues related to the firm.

According to the BN Backbenchers Council (BNBBC) portal, he had conveyed this during a briefing held for BN lawmakers yesterday.

The portal said Arul mentioned this in response to DAP lawmaker Tony Pua’s question whether the Finance Ministry would have to fork out funds if 1MDB is unable to repay its obligations.

It was previously reported that Pua had questioned whether following the collapse of the Bandar Malaysia deal, 1MDB might have to refund RM741 million in deposits to the joint venture firm IWH-CREC.

Apart from the Bandar Malaysia issue, both Arul and Minister in the Prime Minister’s Department Abdul Rahman Dahlan had briefed the MPs on the arbitration settlement between 1MDB and International Petroleum Investment Corporation (IPIC) as well.

The portal said Rahman had also extended Prime Minister Najib Abdul Razak’s gratitude to BN MPs for their support despite the opposition’s relentless attack on this matter.

The minister said despite the obstacles faced by 1MDB in resolving its issues, the support received from the MPs resulted in the government persevering to seek resolutions.

Rahman pointed out how former premier Dr Mahathir Mohamad first joined the opposition bandwagon to launch personal attacks against Najib, including on the purported rings owned by the prime minister’s wife.
When this strategy failed, he said, Mahathir switched to harping on 1MDB instead.

“Mahathir used an issue which is difficult to understand but is easily believable that is 1MDB. It started between October and November 2014 following 1MDB going for initial public offering (IPO) to obtain funds from the stock market.

“Mahathir combined his attacks with the media resulting in 1MDB being unable to rectify the damage.

“As a result of the support from BN parties, Umno and Arul Kanda, we will succeed…,” he added.

– M’kini