Najib denies WSJ report, says China did not offer to bail out 1MDB

  • Nation
  • Tuesday, 8 Jan 2019

PETALING JAYA: Former prime minister Datuk Seri Najib Tun Razak has denied a report by the Wall Street Journal (WSJ) claiming that China had offered to bail out 1Malaysia Development Berhad (1MDB) in 2016.  

"As reported by WSJ and as known publicly, this (the bail out) did not occur.  

"Malaysia had continued its efforts and had promised to sign a settlement agreement with the Abu Dhabi government-owned International Petroleum Investment Corporation (IPIC) to ensure that all monies that was supposedly missing from 1MDB is returned before Dec 31, 2020,” he said on his Facebook page Tuesday (Jan 8).

Najib, in a point-by-point rebuttal against the report, denied several allegations, including that of a secret meeting to allow Chinese navy ships to berth in two ports in Malaysia, and China's offer to spy on the houses and reporters investigating 1MDB in Hong Kong.

"All countries, including the United States, did not stop the investigations despite the allegation (by WSJ) that China used its influence to drop all investigations on 1MDB," he said.

"In my opinion, Malaysia need to be wary to prevent the country from being involved with geopolitical affairs involving two huge super powers based on media reports, and not easily accuse other nations, as it will only bring losses to the country," Najib added.

WSJ reported that senior Chinese leaders offered to help bail out 1MDB in 2016, citing minutes from meetings it reviewed.

Chinese officials allegedly told visiting Malaysians that China would use its influence to try and get the US and other countries to drop probes of allegations that allies of then prime minister Datuk Seri Najib Tun Razak and others plundered the fund, according to the newspaper.

In return, Malaysia offered stakes in railway and pipeline projects as part of China's Belt and Road Initiative. 

Related story:

Chinese Embassy: WSJ report accusing Beijing over 1MDB bailout 'groundless'

Najib , 1MDB , China , WSJ