PM: Qatar won't invest if 1MDB unprofitable

Najib adjusting his headgear which was presented to him at the Rantau Panjang Umno meet

RANTAU PANJANG: The Emir of Qatar has decided to invest in 1Malaysia Development Berhad (1MDB), proving that the company is viable in the long run, said Prime Minister Datuk Seri Najib Tun Razak.

Najib said that the investment could reach billions of ringgit.

"I met the Emir of Qatar recently and he said he was interested to invest in the assets owned by 1MDB. This is an Islamic government itself that is interested.

"If people say the assets (of 1MDB) have no value, nobody would want to invest. They (Qatar) see that the assets can generate lucrative long term profits.

"If 1MDB is an insolvent entity I do not think that the Emir will invest. 

"I have given the assurance to solve the problems in 1MDB in six months but only a month has passed and the company has attracted the attention of a leader of an oil-rich country. 

"1MDB has the potential of being rescued based on its assets and can be turned around to be a profit making entity," Najib said at the Rantau Panjang Umno division meeting on Saturday. 

On July 31, Najib had an audience with the Emir of Qatar, Sheikh Tamim Hamad Al-Thani at the federal capital to discuss efforts to strengthen ties between  Malaysia and Qatar.

The Emir was in the federal capital to attend the 128th Conference of the International Olympic Committee (IOC) at the Kuala Lumpur Convention Centre (KLCC).

At the meeting, Najib was quoted as saying that the Emir of Qatar also stated that the Qatar Investment Authority was interested to look at the assets of 1MDB and was keen to purchase land at the Bandar Malaysia project.

Najib reiterated that he is innocent and had not touched any of the funds as alleged by his detractors.

"The truth will prevail and I will be cleared of the allegations made against me.

"I have made a promise to solve this problem and even before anything has happened my detractors are all out to tarnish my image.

"I wonder if these detractors will apologise if I have been cleared of the allegations," Najib said.

The Umno president said the last thing that the party needed now are betrayers. 

"Although the party faced a crisis when it was deregistered in 1987, it survived because the then party president Tun Dr Mahathir had full support from all leaders. 

"Now Umno is in a crisis, we must rise from the ashes and persevere. I am sure we will survive, otherwise Malays and Islam will suffer without the protection of Umno," he added.