Opposition used 1MDB to sabotage economy, Najib tells American business leaders

 |Sep 13, 2017

WASHINGTON DC: Prime Minister Datuk Seri Najib Razak told American corporate leaders at a dinner in Washington DC that there was a campaign to deliberately sabotage 1Malaysia Development Berhad (1MDB) to undermine investor confidence in Malaysia’s economy.

The Star Online reported Najib saying this was a failed attempt to topple the government.

“I know that some of you will 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 process is progressing well and many of the assets formerly owned by 1MDB are thriving,” he said at the US-Asean Business Council and US Chamber of Commerce dinner at St Regis Hotel here last night.

The English news portal reported Najib telling the audience, which comprised many of the key captains of industry in the US and Asean that the issue was blown out of proportion by Malaysian 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.”

Bernama reported the prime minister then quoted economist Dr Bruce Gale as saying that the Malaysian economy 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.”

“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.

Meanwhile, US President Donald Trump yesterday tweeted about Najib’s visit to the White House.

“It was a great honor to welcome Prime Minister Najib Abdul Razak of Malaysia and his distinguished delegation to the @WhiteHouse today!” Trump said in his tweet of a video of the Malaysian leader’s visit.