PM Najib: 1MDB rationalisation 'progressing well'

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KUALA LUMPUR (Sept 13): Prime Minister Datuk Seri Najib Tun Razak said 1Malaysia Development Bhd's (1MDB) rationalisation is progressing well as many of the assets formerly owned by 1MDB are thriving.

Najib wrote in today that he had earlier instructed 1MDB's rationalisation when it became clear there had been failings in the Malaysian Government-owned company.

Najib wrote this during his visit to the US since Tuesday (Sept 12) following US President Donald Trump's invitation. The invitation is in conjunction with the 60th anniversary of Malaysia-US bilateral ties.

Najib said: "I know that some of the audience will have heard some less positive stories about the Malaysian economy, particularly about 1MDB. I explained to them that 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 progress is progressing well and many of the assets formerly owned by 1MDB are thriving."

"However, I also reminded them 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," Najib said.