Pointless for Najib to answer critics on 1MDB, says Sabah speaker

State investment vehicle 1Malaysia Development Berhad has been the focus of criticism after it chalked up debts of up to RM42 billion. – The Malaysian Insider file pic, June 2, 2015. 

Sabah assembly speaker Datuk Seri Salleh Said Keruak has once again come to the defence of Datuk Seri Najib Razak, saying it is pointless for the prime minister to answer his critics on problems surrounding troubled 1Malaysia Development Berhad (1MDB) when they will never be satisfied with any answer.

"Is there any point in the prime minister doing what everyone is asking him to do? That is to explain what is happening in 1MDB? Even when he does, the critics are still going to reject the explanation.

"Is there any point for the prime minister to waste his time entertaining the critics when whatever he says is not going to be accepted because the critics are criticising for the sake of criticising and not for the sake of hearing the truth?" he said in his latest blog post today.

Criticism has been mounting over the state investment vehicle, established in 2009, which has chalked up debts of up to RM42 billion.

Scrutiny has grown more intense after whistleblower site Sarawak Report's recent exposes, which piled pressure on Najib and prompted opposition politicians, former and current Umno leaders including long serving former prime minister Tun Dr Mahathir Mohamad and anti-graft bodies to demand a thorough investigation into the fund.

The Auditor-General is currently looking through 1MDB's books, with a preliminary report expected to be submitted to the Parliament in June, while the Public Accounts Committee (PAC) started its investigation into the company two weeks ago.

On Dr Mahathir, Salleh said Putrajaya lost more than RM42 billion during the statesman's 22-years tenure as prime minister.

"The Forex losses alone came to RM58 billion at today’s value, and adding to the RM20 billion Malaysia Airlines disaster, that comes to RM78 billion," he said.

He also criticised Najib's detractors for not understanding the problems surrounding 1MDB, saying many did not understand the difference between exposure and loss and automatically assumed the RM42 billion debt was lost.

He cited the US$1 billion injection from Abu Dhabi's International Petroleum Investment Company for 1MDB to settle its US$975 million syndicated loan to a consortium of foreign banks.

Salleh said the company's critics such as DAP's Petaling Jaya Utara MP Tony Pua was never satisfied despite the answers given.

"So you see, 1MDB’s critics do not seem to accept any explanation. They insist that RM42 billion has disappeared into thin air and that there is an attempt to ‘bail out’ 1MDB.

"Even when 1MDB explains that it is not a bailout the critics still insist it is a bailout," he added.

- TMI