EX-TERENGGANU MB EXPOSES NAJIB: He scolded me for pulling out of 'hanky-panky' 1MDB deal

KUALA LUMPUR - The Terengganu state government pulled out of its dealings with the Terengganu Investment Authority (TIA) several years back after the fund attempted to use the state's oil and gas as collateral, former Mentri Besar Datuk Seri Ahmad Said claimed.

Speaking in the Terengganu state assembly for the first time since he was removed from office last year, Ahmad Said claimed that his administration's opposition to the plan by TIA ― the prior incarnation of 1 Malaysia Development Berhad (1MDB) ― was the reason Prime Minister Datuk Seri Najib Razak was angry with him.

“This was one reason why I was scolded by the Prime Minister, including for other cases, in the end we pulled out (of the TIA) and the state government did not lose anything, I asked to be repaid the RM1 million used as paid-up capital at that time,” he was quoted as saying by Malay daily Sinar Harian.

Ahmad Said told the state assembly that TIA's paid-up capital was initially paid for by him and the state government, but later decided to exit the deal after they came across some “hanky panky” in the investment fund.

The TIA was formed in 2008 to manage the state's oil royalties and invest the money in local and overseas markets.

Najib’s leadership has come under heavy criticism of late over a number of issues, particularly its handling of allegations surrounding 1MDB.

Datuk Seri Ahmad Said

The allegations have earned the attention of even Tun Dr Mahathir Mohamad, who recently went public with his demand that Najib step down for failing to adequately address the alleged transgressions of his government.

The latest controversy to hit media headlines was 1MDB’s sale of a 1.56-acre plot of land in the Tun Razak Exchange (TRX) to Lembaga Tabung Haji (LTH) for RM188.5 million, which was reportedly 43 times more than the RM4.5 million it paid for the parcel just four years ago.

Since the deal was revealed last week, a number of top Umno leaders have spoken out, including Umno deputy President Tan Sri Muhyiddin Yassin, Umno vice-president Datuk Seri Hishammuddin Hussein and Youth chief Khairy Jamaluddin.

Following the outrage sparked by the news, Najib advised the LTH board on Saturday to sell the land. - Malay mail