This article first appeared in The Edge Financial Daily, on October 9, 2015.

KUALA LUMPUR: 1Malaysia Development Bhd (1MDB) has not committed any offence related to false disclosure despite Bank Negara Malaysia’s (BNM) appeal to review the case, the Attorney-General’s Chambers (AGC) said yesterday.

This was despite the central bank requesting a review of a decision that was made last month that no further action was required in the BNM probe.

“Having considered the request and the fact that there was no new evidence made available, the attorney-general decided to maintain the decision made earlier,” the AGC said in a statement.

1MDB officials were investigated under the Exchange Control Act 1953 for knowingly and recklessly making a statement which is false.

The statement came after the Conference of Rulers on Tuesday said that investigations into 1MDB must be made public in order to show that nothing is being hidden in the probe into the state-owned investment firm.

The Malay rulers, who as sultans are ceremonial heads of their respective states and guardians of Islam, said they wanted Putrajaya to complete the investigations as soon as possible and act against those found to be implicated. They added that the failure to give convincing answers might result in a crisis of confidence.

The rulers said they were also worried that if the issue is not handled wisely and is allowed to drag on, it could undermine the country’s economy and the people’s livelihood.

They feared that this could also threaten public order and national security. — The Malaysian Insider