SANDAKAN: The country still has assets worth RM51 billion from the 1Malaysia Development Board (1MDB) investments despite the RM42 billion debt the company has, said Umno Supreme Council member Datuk Seri Ismail Sabri Yaakob.
Ismair Sabri explained that 1MDB through the government had taken multiple loans to finance its investments, which include the 500 acres of Bandar Malaysia land, another piece of land for the International Financial Hub, taking over of electricity supply from Independent Power Producers (IPP) and more.
“The opposition did this. They spread lies about 1MDB to overthrow our Prime Minister and in the end, even the Umno members fell for it.
“1MDB is a big company with big tasks, but it is only funded with RM1 million. How is 1MDB supposed to invest in so many assets with only RM1 million? Of course through loans,” he said.
Ismail Sabri also said that the 1MDB owns power plants in Bangladesh, Egypt, Sri Lanka and Abu Dhabi.
He said 1MDB was audited by the fourth biggest audit company in the world, and the result shows that there was no misappropriation of money.
“The people were still not satisfied, so 1MDB was then investigated by the transparent Auditor General to prove that there was no financial ‘hanky-panky’ in 1MDB.
“Yet, many were still spreading accusations that the Prime Minister, Datuk Seri Najib Tun Abdul Razak, was involved in financial improprieties in 1MDB. So, Najib had to once again prove to the people that 1MDB is not involved in any financial misdoings.
“Najib handed over 1MDB report to the parliamentary Public Account Committee, consisting of four parliament members from the opposition parties and four from Barisan Nasional (BN), together with one chairperson and vice chairperson.
“The opposition are scanning for mistakes in 1MDB, why would Najib hand over the report to them if 1MDB was involved with some financial improprieties? It is only logical to assume that Najib has nothing to hide, and 1MDB was genuine and transparent,” he said.
Ismail Sabri, who is also the Minister of Rural and Regional Development, said this in his speech when officiating at the Umno Beluran delegates meeting held at the Sandakan Community Hall here yesterday.
“Najib has asked us not to worry about the 1MDB issue and has assured us that the issue will be resolved in six months’time. He said this in June, hence it will be resolved at the end of this year.
“Therefore, I hope Umno members will put their confidence and faith on our Umno president, and do not get influenced with rumours and lies spread by the opposition,” he added.