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Malaysia not defined by 1MDB issue, Najib tells critics

PAROI (Malaysia) — Mr Najib Razak sought again today (Aug 1) to defend his administration from criticism over the multibillion ringgit 1Malaysia Development Berhad (1MDB) scandal, telling his detractors that the state investor’s problems do not determine the country’s financial position.

Mr Najib Razak officiating UMNO division delegates meeting in Seremban on Aug 1, 2015. Photo: The Malay Mail Online

Mr Najib Razak officiating UMNO division delegates meeting in Seremban on Aug 1, 2015. Photo: The Malay Mail Online

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PAROI (Malaysia) — Mr Najib Razak sought again today (Aug 1) to defend his administration from criticism over the multibillion ringgit 1Malaysia Development Berhad (1MDB) scandal, telling his detractors that the state investor’s problems do not determine the country’s financial position.

The prime minister suggested that 1MDB’s problems may have been exaggerated to paint a bad image of the government, pointing out that it was even claimed that the firm had lost RM42 billion (S$57.63 billion).

“The 42 billion is not missing, impossible to go missing,” he told the Seremban Umno delegates meeting today in his speech.

“The situation in the country is not as bad as what has been claimed by certain parties. The country is not been defined by the 1MDB issue,” he added.

The United Malays National Organisation (UMNO) president added that contrary to rumours, 1MDB’s investments never involved public funds.

“1MDB... is not a development model that uses public funds,” Mr Najib said, before stressing that the firm has only ever received a RM1 million in equity from the government and that its debts are backed by solid assets. MALAY MAIL ONLINE

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