1MDB rationalisation plan is working, says Najib

KUALA LUMPUR: The rationalisation of 1Malaysia Development Bhd (1MDB) is working and substantial debts have been cleared, including the RM950 million standby credit facility provided by the government last year.
"Its assets are more than its liabilities, and those assets are real, as can be seen by the prices they are fetching," Prime Minister Datuk Seri Najib Abdul Razak said in his keynote address at Invest Malaysia 2016 today.
He said some of these assets namely Tun Razak Exchange and Bandar Malaysia will be the "real legacy" of 1MDB.
He said the Public Accounts Committee's report identified weaknesses in 1MDB's structure and management, and action will be taken if any evidence of wrongdoing is found.
"There has been and will be accountability. We are insistent on that in Malaysia. The success of our GLCs and our years of consistent growth would not be possible without it. But the report also shows that the allegations of RM42 billion going missing, as some claimed, are false. Completely false. Malaysia's name has been unfairly dragged through the mud," he added.