Qatar has confidence in 1MDB assets, says Najib

The Emir of Qatar is interested to invest in assets owned by 1MDB, says the prime minister in Kelantan today. – Reuters pic, August 22, 2015.

Qatar would not have invested in assets owned by 1Malaysia Development Bhd (1MDB) if it had no confidence in the state investment firm generating profits in the long term, Datuk Seri Najib Razak said today.

The Gulf state’s investment was proof that assets owned by 1MDB were valuable, thus refuting the notion that 1MDB was a lost cause, the prime minister said.

"I met the Emir of Qatar recently and he said he was interested to invest in 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," he said at the Rantau Panjang Umno division delegates’ meeting at the Kolej Kemahiran Tinggi Mara Lubok Jong, Pasir Mas, today.

On July 31, Najib had an audience with the Emir of Qatar, Sheikh Tamim Hamad Al-Thani 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 the emir 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 also repeated his earlier statement that everything pertaining to 1MDB, especially its debts could be reduced by year-end through a rationalisation programme.

"Give a six-month deadline up to end of the year, I am certain we (the government) can resolve (the 1MDB problem). Our debts will be repaid according to schedule.” – Bernama