Having been labelled as a critic of state-owned fund 1MDB, CIMB chairperson Nazir Razak said reading the Public Accounts Committee (PAC) probe report has left him feeling “a little emotional”.

“I felt a little emotional reading the PAC report after all the trials and tribulations of being labeled a 1MDB critic.

“Kudos PAC/AG (auditor-general). Objective 1MDB never again - this is major progress,” said Nazir in a posting on his Instagram account.

While Nazir did not elaborate further on his posting, he had previously said that lessons must be learnt and action taken on those responsible to ensure scandals like the one involving 1MDB will never happen again .

“The future is making sure that 1MDB - never again.

“In order to make sure 1MDB - never again, we got to look at the past and understand what happened so that we learn from the lessons,” he was quoted as saying during the StarLIVE Power Talks-Business Series on March 26.

At that time, Nazir also said he had sensed something amiss since 2009 when 1MDB raised RM5 billion in bonds and had voiced concern to the relevant people.

The 106-page report, among others, had identified a number of weaknesses in the governance and decision-making of 1MDB.

The 1MDB board of directors have also collectively offered to resign following release of the report on April 7.

Prime Minister Najib Abdul Razak, as well as other Barisan Nasional ministers and leaders, had described findings of the PAC report as proof of “false allegations” made by their critics in an attempt to topple the government.