Finance Minister Lim Guan Eng said it is “distressing” that former premier Najib Abdul Razak refuses to admit his administration's role in the 1MDB scandal.

“When is Najib going to apologise?

“Or is he going to insist that 1MDB benefited the Malaysian people like how he did in the last Parliament session. Until now, he has refused to apologise.

“He is still in a complete state of denial, refusing to admit that Malaysia suffered huge losses because of the scandal.

“Just like Goldman (Sachs), he is trying to disclaim responsibility. I think it is worse for the former prime minister not to admit, it shows that he is dishonest,” he told reporters in Putrajaya today.

Lim roped in Najib when commenting on Goldman Sachs's apology to the Malaysian people over former banker Tim Leissner's role in the 1MDB scandal.

Following Goldman's apology, Najib said the bank must take responsibility if it failed to take care of the interests of 1MDB.

“We put up a system and it was there to take care of our interests.

“So if they failed, then they have to take responsibility because they were appointed and paid by 1MDB to take care of our interests,” Najib added.

Meanwhile, Lim described the Goldman apology as inadequate, saying the bank should follow up its expression of regret with compensation to the tune of US$7.5 billion.

He also asked if Goldman would have apologised if Najib's administration was not routed from power in the last general election.

“Please remember if there was no change of government, do you think that Goldman will answer all these questions and be prosecuted. No,” he added.

Goldman is being investigated by Malaysian authorities and the US Department of Justice (DOJ) for its role as underwriter and arranger of three bond sales that raised US$6.5 billion for 1MDB.

Last year, US prosecutors charged two former Goldman bankers for the theft of billions of dollars from 1MDB.

Leissner, a former partner for Goldman in Asia, pleaded guilty to conspiracy to launder money and violate the Foreign Corrupt Practices Act.