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1MDB Issues Should Be Put Behind Us, Says Nazir Razak

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KUALA LUMPUR: CIMB Holdings Bhd Chairman, Datuk Seri Nazir Razak, today said issues pertinent to 1Malaysia Development Bhd (1MDB) should be put ‘behind us’ as they could impact investors’ sentiment towards Malaysia.

He also reiterated and backed Governor Tan Sri Dr Zeti Akhtar Aziz’s statement saying the 1MDB is not a systemic risk to Malaysia’s financial system and the movement of the ringgit.

“But I think we probably should disclose (what needs to be disclosed) in order for people to have a full picture and allay concerns. “My strong advice is to put this issue behind us,” he told reporters after the group’s annual general meeting here today.

He was responding to a question whether the 1MDB issue would bring any impact or risk to a wider financial system in Malaysia and the ringgit’s performance.

Nazir has also dispelled speculation that the 1MDB concern has put some disagreement between himself and his brother Datuk Seri Najib Razak, who is the Prime Minister. Also present was Group Chief Executive Tengku Datuk Zafrul Tengku Abdul Aziz.

1MDB is a strategic development company leading market-driven initiative to help transform Malaysia into a thriving economy, one that is highly competitive, inclusive and sustainable.

The company focuses on investments with strategic value and high multiplier effects on the economy, particularly in energy, real estate, tourism and agribusiness.– Bernama


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