1MDB's $15.74 billion not lost, says Najib

KLANG - The RM42bil (S$15.74 billion) allegedly lost by 1Malaysia Development Berhad (1MDB) has not disappeared but can be accounted for in the value of the Tun Razak Exchange (TRX) and Bandar Malaysia projects, said Prime Minister Datuk Seri Najib Tun Razak.

"Go and have a look at what is there. The Tun Razak Exchange has 70 acres and Bandar Malaysia has 500 acres.

"Five hundred acres in the centre of Kuala Lumpur. I regard it as a goldmine. If I were a wealthy man (hartawan) I would buy there anytime because I know of it's value in the next 20 years," Najib said in his speech at a special gathering of Selangor Umno and Barisan Nasional members here on Saturday.

Najib also refuted allegations that Lembaga Tabung Haji had bailed out 1MDB with its purchase of TRX land.

He added that the pilgrimage fund wanted to develop the land and this would have benefited its depositors.

On the audit on 1MDB, Najib said the files were currently with the Auditor-General. "We will disclose as soon as the Auditor-General has finished investigations,” he said, adding that the report would be ready next month.