PM tells of campaign to sabotage 1MDB

WASHINGTON DC: Prime Minister Datuk Seri Najib Abdul Razak told the American business community on Tuesday that there was a campaign to deliberately sabotage 1Malaysia Development Bhd (1MDB) and to undermine investor confidence towards the Malaysian economy.

In his speech at the US-Asean Business Council and US Chamber of Commerce dinner at the St Regis Hotel, he said the plot was part of a failed attempt to topple the government between election cycles.

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

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

He said rather than sweep the issue under the rug, the government had ordered investigations into the company on a scale unprecedented in the nation’s history.

Instructions were given for the company to be rationalised when it became clear that there had been failures, he added.

“This is progressing well and many of the assets formerly owned by 1MDB are thriving.”

Najib earlier held talks with President Donald Trump at the White House as part of his three-day working visit to the United States.

He urged the US business community not to allow Malaysian political opposition’s “noise” on the matter to obscure the reality.

Quoting economist Dr Bruce Gale, Najib said the Malaysian economy continued to grow at a rate well above the international average.

“Perhaps I should tell you that Dr Gale is the author of a new book called Economic Reform In Malaysia: The Contribution Of Najibnomics.

“But I didn’t commission the book, I assure you! Nor did I know that there was something called Najibnomics!” he said, adding that great progress has been made in the last few years in Malaysia.

“I say to those of you here who do not know Malaysia well ... come and be surprised. Come and see the high-tech firms which have relocated to our country, and the homegrown ones we are so proud of.

“Come and see the infrastructure and new public transport network that we are building in Malaysia,” he said.

Earlier, Najib witnessed the signing of a memorandum of understanding between Malaysia Airlines and Boeing Aircraft Corporation for the purchase of 16 Boeing aircraft and the setting up of a maintenance, repair and overhaul facility in Sepang. – Bernama