1MDB on the right track

I wrote this back in October last year,

The need to convincingly explain 1MDB

At that time I was becoming skeptical of 1MDB due to the incessant attacks against it.

As it is, when you relentlessly attack something, some people may in the end believe it.

That is actually the tactic used by Pakatan against the BN government.

Since then, I noticed that 1MDB had started to try to explain itself to the people.

Some of their effort were not so good but there were times when they got it right and their explanation did to a certain extent clear the air.

What ever it is, at least they had improved by making the effort to engage the public and dispel some doubts about their operations.

That's important, as everyone knows, the attacks directed at 1MDB were actually meant for PM DS Najib Razak.

Of course there were some more rooms for improvements, but what 1MDB was doing now at the very least is encouraging.

It is better than letting itself be a sitting duck ready to be shot at by their detractors all the time.

This is the latest that came out from 1MDB:

"1MDB notes with concern certain claims carried by an online media portal concerning business arrangements 1MDB entered into with PetroSaudi. 1MDB exited the relationship in 2012, and received backits investment in full, with a profit of US$488m.  These facts, and all details related to this transaction, may be verified by reference to our audited accounts, which are publicly available on the Suruhanjaya Syarikat Malaysia website."


- Arul Kanda, President & Group Executive Director of 1MDB

And this is from PetroSaudi,

1 MARCH 2015 - FOR IMMEDIATE RELEASE

We refer to certain media reports which has made malicious and harmful allegations with respect to PetroSaudi's partnership with 1Malaysia Development Berhad (1MDB).

We wish to state categorically that all funds from 1MDB went to PetroSaudi owned entities, any other inference is false. 

Upon 1MDB's exit, PetroSaudi has paid 1MDB in full and both parties no longer have any financial or legal relationship.

Finally, we are seeking legal advice on the appropriate course of action to these malicious and slanderous allegations.


PETROSAUDI INTERNATIONAL

Well, it is good that 1MDB had improved on its public engagement effort.

They should do more though as the attack against them are not going to cease any time soon.

Hopefully things will be better for 1MDB and others connected to the leadership of the PM.

They should realize that they represent Najib's future as the country's prime minister and therefore do more to avoid being liabilities for him.

If they don't do the right things, they will cause Najib's downfall.