AGC in spotlight for swift action on Malaysian scam probe findings

THIS is no ordinary probe; two weeks have passed since Malaysia's anti-graft agency revealed that it has submitted to the Attorney-General's Chambers (AGC) the findings of its investigations into the RM2.6 billion (S$850 million) transferred into Prime Minister Najib Razak's bank accounts.

That's two weeks too long for nary a word on the findings of the widely publicised scandal involving the country's highest office that rocked the country and sparked a deep political and confidence crisis for much of last year.

Malaysia's Attorney-General Mohamed Apandi Ali has asked for more time to comb through the details of the lengthy report that include interviews with over 100 people, including the Middle East donor of the RM2.6 billion. The Malaysian Anti-Corruption Commission's (MACC) findings are also in relation to SRC International, a unit once owned by scandal-hit state-owned 1Malaysia Development Berhad (1MDB) and now under the Ministry of Finance. While Mr Apandi has reassured the public that he would act without fear or favour, he needs to keep in mind that this case, which he himself had pushed the MACC late last year to speed up its investigations on, should be of top priority. The longer he takes to decide on his next course of action based on the probe findings, the more it could shake the already weakened public perception of the country's highest-ranking public prosecutor.

Mr Apandi has drawn sharp public scrutiny following his controversial appointment last July after his predecessor, Gani Patail, was abruptly removed from the office even as the high-level probe into the funds allegedly transferred into Mr Najib's accounts was ongoing. Mr Najib, who chairs 1MDB's advisory board, has denied wrongdoing or taking any money for personal gain.

In August last year, Bank Negara Malaysia (BNM), the country's central bank, submitted its own report recommending criminal proceedings against 1MDB for breach of exchange control laws involving its overseas investments. After studying the matter, the AGC concluded in October that the fund had not done anything wrong. The differences in views sparked off a bitter clash between Mr Apandi and BNM governor Zeti Akhtar Aziz, indeed an unusual development involving top officials of the country's key institutions. The episode also dented public faith on the likelihood of any enforcement action - if and when warranted - in the country in relation to the 1MDB case.

While the ferocity of the 1MDB saga appears to have calmed - relatively speaking - and the firm's rationalisation plan to cut debts worth a whopping RM42 billion has gained traction, the scandal is by no means resolved. It will likely remain an open wound for as long as the outcome of multiple-level probes in Malaysia and abroad - Switzerland, United States, UK, Hong Kong and Singapore - are still ongoing.

Meanwhile, there is a great deal of pressure domestically and abroad for the matter to be managed promptly and independently. In mid-December last year, the European Parliament passed a resolution calling for the Malaysian government and the judiciary to "provide transparency and independent investigation" in the 1MDB case. In the words of Malaysia's former attorney-general Abu Talib Othman, who told a Malaysian news portal on Wednesday that the AGC should expedite the matter, not least because it involves a sitting prime minister: "The world is watching."