‘There was a campaign to sabotage 1MDB to undermine economy’

WASHINGTON DC: Prime Minister Datuk Seri Najib Razak said there was a campaign to deliberately sabotage 1Malaysia Development Bhd (1MDB) to undermine Malaysia’s economy.

He told American industry captains during the United StatesAsean Business Council and US Chamber of Commerce dinner that the sabotage was done with the ultimate intention to topple the government.

“I know that some of you have heard some less positive stories about the Malaysian economy, particularly about 1MDB.

“Rather than brush the issue under the rug, we ordered investigations into the company at a scale unprecedented in our nation’s history.

“And, when it became clear that there had been failings, I instructed that the company be rationalised. This is progressing well and many of the assets formerly owned by 1MDB are thriving.”

Najib said the issue was blown out of proportion by opposition leaders.

“I should remind you that while there were issues, certain opposition politicians in our country blew them out of proportion.

“Indeed, there was a campaign to deliberately sabotage the company — and undermine investor confidence in our economy — in a failed attempt to topple the government in between election cycles.”

Najib called on investors to not “allow the political opposition’s noise on this matter to obscure the reality”.

“The reality, as the economist Bruce Gale recently wrote, is that, and I quote: The Malaysian economy has continued to grow at a rate well above the international average.

“The economy expanded by 5.8 per cent in the second quarter of this year compared with the same period last year, the current account surplus widened, and investments rose by 7.4 per cent.

“Latest figures also show that inflation is well under control, with the CPI registering a rise of just 3.2 per cent in July.”

Earlier, Najib witnessed the signing of a memorandum of understanding between Malaysia Airlines Bhd and Boeing Aircraft Corporation for the purchase of aircraft and setting up of a new Maintenance, Repair and Overhaul facility in Sepang.

The facility will specialise in the Boeing 787, Boeing Max and Boeing NG aircraft.

Indeed, there was a campaign to deliberately sabotage the company — and undermine investor confidence in our economy — in a failed attempt to topple the government in between election cycles.

DATUK SERI NAJIB RAZAK