Pakatan selling off national assets, accumulating huge debts, says Najib

Updated 4 years ago · Published on 20 Sep 2019 12:42PM · 9 Comments

Former prime minister Najib Razak says the Pakatan government is selling off national assets and is accumulating huge debts as well. – The Malaysian Insight pic by Najjua Zulkefli, September 20, 2019.

NAJIB Razak today slammed the Pakatan Harapan government for continuing to sell off national assets and accumulating debts of almost RM100 billion.

“National assets worth billions of ringgit have been sold off while billions in Petronas money used (by the government),” he said in a Facebook posting today.

He said the PH government has also accumulated debts amounting to almost RM100 billion as of this month, extending the national debt to RM810 billion.

“And they have only repaid RM32 billion.

“At the same time, not a single extra sen in national asset has been made.

“We are still waiting for MAS, BHP petroleum, MAHB, UEM Sunrise all to be sold off,” he added.

He ended his posting by saying that under the PH government, the economy was going downhill, along with the share market and ringgit value.

PH had long accused Najib’s government of selling off national assets to bail out 1Malaysia Development Bhd’s debts.

After coming to power, the PH government also said it was saddled with national debts amounting to RM1 trillion, alluding to Najib’s economic mismanagement.

In recent days, it has been reported that the government’s investment arm Khazanah Nasional Bhd was selling off its stakes in a road project in Indonesia and in premium medical care institution Prince Court Medical Centre.

Khazanah was today reported as selling all of its 55% stake in one of the longest toll roads in Indonesia to a Canadian pension fund.

Bloomberg earlier reported PLUS Expressways had received a US$500 million (RM2.1 billion) offer for its stake in the highway.

PLUS Expressways is a subsidiary of UEM Group and is ultimately wholly-owned by Khazanah.

As for Prince Court Medical Centre, Khazanah Nasional sold its stake to IHH Healthcare Bhd for RM1.02 billion.

IHH would fully pay for the entire 100 million ordinary shares and 35,176 redeemable preference shares in Prince Court in cash, Khazanah and IHH said in separate statements.

Earlier this week Prime Minister Dr Mahathir Mohamad said Khazanah Nasional would have to sell off some of its assets as it has strayed outside of its core businesses and invested in too many things.

“The original idea was that Khazanah Nasional should only buy shares which are not taken up… but now they have invested in many things.

“What is outside of their core business, they should dispose of (them),” Dr Mahathir said in an interview with BFM radio station. – September 20, 2019.

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Comments

  • Najib,
    You are talking rubbish. The nations debt is a result of your mismanagement & overspending for nearly 10 years. A sovereign wealth should be involved in local core businesses strategic to the the country only. Selling these business is not an issue as long as they make decent profits.

    Posted 4 years ago by Ramesh Balakrishnan · Reply

  • when is this monkey going behind bars? pay back to rakyat what you and your family took before you go sg buloh ya..

    Posted 4 years ago by . . · Reply

  • Well Najibs idea of a sovereign wealth fund is to fund his family and JL and their peripheral network .

    Posted 4 years ago by Kinetica Cho · Reply

  • Anything also better than the ex PM who put country debt money into his own pocket. Talk some more, the whole country men and women cursing u now and into the future. Your children and grand children will suffer through your bcos of your greed.

    Posted 4 years ago by James Wong · Reply

  • Perhaps its a good time to sell since the world recession is coming. If we can get a good price for the assets now, we can sell and re invest again when everything is cheap during the recession.

    Posted 4 years ago by Elyse Gim · Reply

  • The THIEF is at it again,...what the THIEF does not want to accept is that he CAUSED all this and PH has no choice.

    Posted 4 years ago by Lipdah Lia · Reply

  • This greedy fool who nearly bankrupted the country should not be allowed to speak so irresponsibly. Can't wait for his prosecution to end and see him behind bars for good.

    Posted 4 years ago by Simple Sulaiman · Reply

  • That's because your backside is worth nothing just your brain idiot.

    Posted 4 years ago by Teruna Kelana · Reply

  • Your face is as thick as a rhino's hide. You have no remorse for the billions stolen to fun your family extra vagrant lifestyle and ditching out peanuts to the lower-income to deceive your concern for the poor to gain their support. You plead innocence when the whole world can see through your evil schemes to steal the funds from the Treasury and GLCs. Your finger has been caught in the cookie jar time awaits you in Sg Buluh where you will spend your time to seek forgiveness from Allah and repent for sins you and your wife have committed.

    Posted 4 years ago by Justin Leno · Reply