PM Najib: There's a lot of 'outside noise' on issue of trust

Prime Minister Najib Abdul Razak today said the government is facing a lot of "noise" when it comes to the issue of trust but maintains it is just "perception".

"The problem is a problem of perception, the problem is the noise level outside.

"The noise level is rather high, I admit it...," Najib said during a panel discussion at the World Economic Forum summit in Kuala Lumpur today.

He did not elaborate what he meant by "noise".

He was asked on steps taken by the government to re-establish trust within the business community and in Malaysia's economic, political and social fundamentals.

Najib said there are things the government cannot control, like the impact of a drop in oil prices on government revenue.

He added that what the government can control includes "ensuring regulatory bodies in the country are allowed do to their jobs".

"By doing that, we can establish high confidence," he said, noting a rise in foreign direct investment.

Various investigations

Najib's remarks come amid investigations by various international agencies on his brainchild, state investment firm 1MDB.

US daily The Wall Street Journal reported the Federal Bureau of Investigation's 1MDB probe is zooming into the luxury properties owned by his stepson Riza Aziz in London, Los Angeles and New York.

The daily claims investigators suspect the mutimillion US dollar residential properties owned by the Hollywood producer was purchased using funds linked to 1MDB.

The WSJ also reported that 1MDB funds were used to make Red Granite's blockbuster hit 'Wolf of Wall Street'.

The Swiss Attorney-General's Office said there is reason to believe funds flowed from 1MDB to a film production company.

Queries to Riza sent via his firm Red Granite Pictures, were not answered.

Red Granite reportedly said its sources of funding are legitimate and that it is cooperating with investigations.

Najib has denied using for public funds for private use. -Mkini