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Wednesday, March 22, 2017

'Former leader' telling lies about Malaysia, Najib claims



Prime Minister Najib Abdul Razak has accused a ‘former leader’ of spreading lies about Malaysia, which he said had nearly scuttled the US$7 billion (RM31.1 billion) deal between Petronas and Saudi Aramco.
In the veiled attack apparently aimed at Parti Pribumi Bersatu Malaysia chairperson Dr Mahathir Mohamad, who is also a former prime minister, Najib lamented that the opposition would rather create false propaganda than to engage on facts.
“The Aramco deal was almost wrecked by such fake news. After all, many would not expect a former leader to tell lies about his country. So, when he tells people that Malaysia is facing bankruptcy, some believe him.
“In fact, he knows he is telling lies,” he told a full-house audience at the Kuala Lumpur Convention Centre’s plenary hall today, without naming the former leader.
He was delivering his welcoming address at the Global Transformation Forum, which features prominent speakers and participants from all around the world.
Najib had made similar claims in the past, claiming that the Petronas-Aramco deal nearly fell through, until Saudi Aramco was provided the correct information.
He had said that Saudi Aramco had been fed with misinformation by certain unpatriotic quarters, which led it to believe that the Employees Provident Fund (EPF) was bankrupt, the government was unable to pay its civil servants, and the country was politically unstable.
Najib told the audience today that the opposite is in fact true - millions of jobs had been created in Malaysia, while growth remains strong and consistent.
Inflation and unemployment were kept low, he added, while fiscal deficit was slashed from 6.7 percent in 2009 to 3.1 percent in 2016.
The Petronas-Aramco deal was eventually signed on Feb 28, in which Saudi Aramco bought a 50 percent stake in select ventures and assets in the Refinery and Petrochemical Integrated Development (Rapid) project in Pengerang from Petronas.
Apart from successfully wooing the investment from Saudi Arabia, Najib also boasted of Malaysia’s success in drawing a RM1.4 billion investment from Osram to expand its manufacturing plant in Malaysia.
He asked the audience if Osram and Saudi Aramco would have done so if the opposition’s claim that Malaysia was bankrupt or a failed state is true.
“I raise the question because, as you know, there has been a lot of talk of fake news lately. Unfortunately, the government’s opponents here in Malaysia often prefer not to engage us on the facts.
"They create false propaganda - like the idea that this is a state on the verge of bankruptcy - some of which sadly gained traction internationally.
“This running down of Malaysia is nothing less than economic sabotage for selfish, personal political gain. If it affects perceptions abroad, it won’t be opposition politicians who will suffer. It will be ordinary Malaysians,” he said.
Last Monday, Najib had pleaded in Parliament for such economic sabotage to stop, as national interest should come first.
In his speech today, Najib acknowledged that Malaysia still faced many challenges, such as in managing household debt, the need to improve productivity, and insufficient household savings.
Nevertheless, these issues will be addressed, and Malaysia’s reforms are yielding results that neutral observers have taken note of.

As examples, he said all the major rating agencies have reaffirmed Malaysia’s ‘A’ rating, while 2017 Best Countries Report hailed Malaysia as "the clear frontrunner" when it comes to countries to invest in.
As for the International Monetary Fund, he said the fund assessed Malaysia’s economy as being “(continuing) to perform well, despite significant headwinds, and has made significant progress toward achieving high-income status”.
“So this is the real story, the real facts, and the real news, about Malaysia’s transformation story,” Najib said.-Mkini

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