ANGRY CHINA DENIES OFFERING 1MDB BAILOUT – WHILE DISGRACED NAJIB RUSHES TO DISTANCE HIMSELF FROM THE CORRUPTION ALLEGATIONS WHICH IF TRUE ARE ALSO TREASONOUS

KUALA LUMPUR— China has dismissed a Wall Street Journal (WSJ) report today which claimed it offered the former Barisan Nasional government a deal to bail out 1Malaysia Development Berhad (1MDB) in return for contracts to further its ‘One Belt, One Road’ agenda.

Malaysiakini cited a spokesman of the Chinese embassy in Kuala Lumpur, who said China adheres to a policy of non-interference in the domestic affairs of other countries.

“China never attaches political conditions on our cooperation with other countries. We promote the ‘Belt and Road’ initiative under the principles of wide consultation, joint contribution and shared benefits, with an aim to pursue shared development and prosperity.

“We do not accept any groundless accusations made against China,” the embassy said.

Malaysiakini also quoted the embassy saying China was committed to working with Prime Minister Tun Dr Mahathir Mohamad to improve bilateral ties.

The WSJ report by Tom Wright and Bradley Hope — the authors of Billion Dollar Whale — had cited previously undisclosed minutes from meetings between Malaysian and Chinese officials as well as sources from the new Pakatan Harapan (PH) administration for China.

“Notes from that meeting said Malaysia was working to enhance bilateral ties, citing support Mr Najib voiced for China’s position in the South China Sea during a regional summit in Laos.

“Two months later, Najib went to Beijing and signed the deals. Together with other projects, they made Malaysia the second-biggest recipient of One Belt, One Road funding after Pakistan,” the daily wrote, referring to former prime minister Datuk Seri Najib Razak.

It said within months of China’s offer, Najib signed US$34 billion (RM139.8 billion) worth of rail, pipeline and other deals with Chinese state firms that were to be funded by Chinese banks and built by Chinese workers.

The WSJ article also reported clandestine talks between then prime minister Najib and Chinese officials to allow naval ships from China to dock at Malaysian ports.

Minutes purportedly of Chinese-Malaysian meetings further showed that although the projects’ purposes were “political in nature” — to settle 1MDB’s debt — it was imperative the public viewed them as commercial pursuits.

After Pakatan Harapan formed the federal government, Prime Minister Tun Dr Mahathir Mohamad swiftly put the Chinese projects on hold.

The Mahathir administration has also cancelled at least two such projects and is still trying to terminate the East Coast Rail Link that is seen as the flagship project of the Belt-Road initiative here.

Najib is currently on trial for corruption, money laundering, and criminal breach of trust offences related to 1MDB, as are several members of his administration.

China announced its ambitious multi-trillion One Belt, One Road initiative in 2013, ostensibly to recreate a modern-day Silk Road, but the programme remains hobbled by suspicions that it is a vehicle for Chinese neo-colonialism.

Najib denies WSJ report on China deal to save 1MDB

KUALA LUMPUR – Former prime minister Datuk Seri Najib Razak today denied the reports published by US-based newspaper the Wall Street Journal (WSJ) regarding the deal between his administration and China to rescue 1Malaysia Development Berhad (1MDB).WSJ had earlier reported that China had offered the former Barisan Nasional (BN) government under Najib a deal to bail out 1MDB in return for contracts here that would further its ambitious “One Belt, One Road” agenda.In a Facebook posting, Najib said the bailout never happened and maintained that all projects awarded to China-based companies including the East Coast Rail Link (ECRL) and the Trans-Sabah Pipeline were not above the market price.

“Malaysia will continue to keep its agreement with Abu Dhabi-owned IPIC and ensure that all the money allegedly missing from 1MDB will be returned before December 31, 2020.

“There has been no accusation that the gas pipe project was extraordinarily expensive. The Trans-Sabah Gas Pipeline awarded to a Chinese company in 2016 with a 662km length is worth RM4.06 billion.

“In comparison, the Sabah-Sarawak Gas Pipeline Project that was 500km long and was awarded to an Indian-based consortium in 2008 was completed with RM4.6 billion cost,” Najib defended.

The Pekan MP said he did his best to defend the RM55 billion ECRL and tried to lay the blame on the East Coast Economic Region Development Council which proposed the project back in 2007.

He added that the Pakatan Harapan government that accused the ECRL project of being above the market value of RM30 billion, had never shown any evidence to prove this.

The embattled former prime minister who has been accused of multiple accounts of corruption and abuses of power said the RM30 billion was based on 2009 study for a length of 545km in comparison to the final length of 620km.

Najib also refuted claims that China was going to use its influence in the US to ensure that any charges on the 1MDB mega financial scandal will be dropped.

“WSJ itself has reported that the US government is continuing its investigations. WSJ also reported that the Chinese government had offered to spy on their journalists… but this never happened either,” he said.

– Malay Mail