Campaign to sabotage 1MDB to undermine investor confidence in Malaysia: Najib

WASHINGTON DC: Datuk Seri Najib Abdul Razak on Tuesday told the American business community that there was a campaign to deliberately sabotage 1Malaysia Development Bhd (1MDB) and to undermine investor confidence towards the Malaysian economy.
Addressing the US-Asean Business Council and US Chamber of Commerce dinner at the St Regis Hotel on Tuesday, the prime minister said it was part of a failed attempt to topple the government in between election cycles.
"I know that some of you will 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," Najib said.
The prime minister said rather than brush the issue under the rug, the government had ordered investigations into the company at a scale unprecedented in the nation's history.
The prime minister said he instructed that the company be rationalised when it became clear that there had been failings.
"This is progressing well and many of the assets formerly owned by 1MDB are thriving," he said.
Najib earlier held talks with President Donald Trump at the White House during his three-day working visit to the United States.
He urged the business community not to allow political opposition's noise on the matter to obscure the reality.
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.

"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, the prime minister witnessed the signing of a Memorandum Of Understanding between Malaysia Airlines and Boeing Aircraft Corporation for the purchase of aircraft and the setting up of a Maintenance, Repair and Overhaul facility in Sepang, totalling US$3.9 billion (RM16 billion). — Bernama