WASHINGTON DC - Prime Minister Datuk Seri Najib Tun Razak said there was a campaign to deliberately sabotage 1Malaysia Development Berhad (1MDB) to undermine investor confidence in Malaysia's economy.
Addressing American corporate leaders at a dinner here, Najib said the move was a failed attempt to topple the government.
"I know that some of you will have heard some less positive stories about the Malaysian economy, particularly about 1MDB.
"Rather than brush the issue under the rug, we ordered investigations into the company at a scale unprecedented in our nation's history.
"And, when it became clear that there had been failings, I instructed that the company be rationalised.
"This process is progressing well and many of the assets formerly owned by 1MDB are thriving," he said at the US-ASEAN Business Council and US Chamber of Commerce dinner at St Regis Hotel here.
Najib told the audience made of key captains of industry in the US and ASEAN that the issue was blown out of proportion by Opposition leaders.
"I should remind you that while there were issues, certain opposition politicians in our country blew them out of proportion.
"Indeed, there was a campaign to deliberately sabotage the company - and undermine investor confidence in our economy - in a failed attempt to topple the government in-between election cycles."