23 Feb 2021 / 21:12 H. Pix for illustration purposes.
KUALA
LUMPUR: The High Court today was told that it was unusual for the National Audit Department (NAD) to prepare an interim audit report involving auditees prior to an exit conference.
Former audit director of the NAD, Saadatul Nafisah Bashir Ahmad, 68, said the interim report was produced for the 1Malaysia Development Berhad (1MDB) audit report, and it was presented to the Public Accounts Committee (PAC) on July 9 and 10, 2015 by the 1MDB special audit team.
“The interim report, under normal circumstance we don’t do this,“ said the seventh prosecution witness during cross-examination by counsel Datuk N. Sivananthan at the trial of former prime minister Datuk Seri Najib Tun Razak and former 1MDB chief executive officer Arul Kanda Kandasamy on alleged tampering of the 1MDB final audit report.
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This week will see Malaysia joining Hong Kong and Singapore in releasing its inflation numbers for January. Malaysia is scheduled to announce the Consumer Price Index (CPI) data on Wednesday. The CPI fell 1.4% year on year in December 2020.
According to ING senior economist for Asia Prakash Sakpal, inflation in Hong Kong, Malaysia and Singapore likely remained in negative territory. “Of note here would be data from Malaysia where tighter Covid-19 movement restrictions (in January) possibly intensified the downward price trend, supporting our call of a 25-basis-point Bank Negara Malaysia policy rate cut in March,” he says in a Feb 18 report.
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Published on: Tuesday, February 16, 2021
By: Bernama
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Najib and former 1MDB chief executive officer, Arul Kanda Kandasamy are on trial over 1MDB audit tampering charges. (Bernamapic)
Kuala Lumpur: Former prime minister Datuk Seri Najib Tun Razak has failed in his attempt to remove former Federal Court judge Datuk Seri Gopal Sri Ram from leading the prosecution team in his on-going trial for alleged tampering of the 1Malaysia Development Berhad (1MDB) audit report.
This was the third attempt by Najib to recuse Sri Ram from prosecuting in the 1MDB-linked criminal case. The first was filed in another 1MDB case before a different judge and the second was through a civil proceeding.