Prime Minister Najib Razak gave assurances to the rakyat that beleagured state investment fund 1Malaysia Development Berhad (1MDB) did not use up taxpayers’ money in resolving its slate of debts.
“An end to the issues faced by 1MDB is forthcoming, as I had promised six months ago,” he said at the monthly assembly of the Prime Minister’s Department staff this morning, as quoted by Bernama.
“What we are glad about is that we are resolving it not by way of a memorandum of understanding (MoU) but through an ‘agreement’, without touching any of the people’s money.”
The PM also called for an end to public speculation on controversies and contentious issues which plagued his administration in 2015, saying that the Federal Government has proven itself and its integrity.
“The Government of the day gets support from the Parliament. The 2016 Budget was passed and received convincing majority support,” The Star Online‘s Mazwin Nik Anis reports him as saying this morning.
“As we enter 2016, let us not dwell on these issues. Let us move on because we have big agendas to meet; agendas for the country, for the people and for the well-being of all of us.”
1MDB’s debt rationalisation plan seems to be in full swing, following the November 23 sale of Edtra Global Energy Berhad to the China General Nuclear Power Corp and its CGN Group, valued at RM9.83 billion.
On December 31, 1MDB sold off a 60% stake in Bandar Malaysia Sdn Bhd for RM7.41 billion tothe Johorean-Chinese IWH-CREC Consortium.
As of March 31, 2014, 1MDB was reported to have accumulated debts totalling RM42 billion.
