THE decision to reallocate funds for debt payments was made in Malaysia’s interest, said former prime minister Najib Razak today.
“My conscience is clear. The decision was taken in the interest of the nation.”
The country’s bond market would collapse if the debt payments were defaulted, leading to more serious issues, he said.
“When we take money, we have to pay it back. Otherwise, we would go into default, and it would lead to a collapse of the bond market. That would be very serious.”
Najib, who also held the finance portfolio, said the debt payments, totalling RM6.5 billion, could easily be mistaken as missing money.
He gave an assurance that every sen was accounted for.
“Don’t be misguided… it is RM6.5 billion, and it isn’t missing. The RM6.5 billion is the total payment, and it has been accounted for.”
Najib and his lieutenant, former Treasury secretary-general Mohd Irwan Serigar Abdullah, were charged with six counts of criminal breach of trust this morning, involving RM6.63 billion.
The embattled former prime minister said the charge sheet did not indicate that either of them had used the money for personal benefit.
“There is no element of personal benefit to me or Irwan in today’s accusations.”
Shortly after he left the Kuala Lumpur court complex, Najib took to Facebook to defend himself.
“Four of the charges are over the decision made by the government I helmed to fulfil an agreement with the International Petroleum Investment Company, to ensure we did not face debt issues, by paying US$1.2 billion (RM4.8 billion) to IPIC last year, for the US$1 billion, plus interest, that they gave us in June 2015.
“The deal included IPIC’s agreement to repay US$3.5 billion to the government by December 31, 2020.
“Two of the charges are over payments to the Chinese company behind the East Coast Rail Line and gas pipeline projects (which have been suspended and scrapped, respectively) made as per the written agreements.
“As stated by my lawyer, the charges against me are unclear, and there is nothing that indicates either Irwan or I had taken a single sen, or personally benefited from the decision to make debt payments.
“The decision was made so that the government would not have to pay more, and to ensure the government does not lose credibility.
“Also, the charge sheet was given to our counsel a mere five minutes before the proceedings began. We were not given enough time to prepare our responses.
“It is clear that the prosecution acted unfairly.”
The six charges bring to 38 the total number of charges faced by Najib.
He was previously charged with 32 counts of CBT, money laundering and abuse of power involving RM2.6 billion said to be from 1MDB, which he has claimed was a donation from Saudi royals, and RM42 million from former 1MDB unit SRC International Sdn Bhd. – October 25, 2018.
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