Petronas funds lifeline Najib delivered 1MDB?

Rafizi Ramli

KUALA LUMPUR - PKR does not rule out the possibility of Petronas funds will be used again to rescue the company or government agency in question is an investment company 1Malaysia Develepoment Berhad (1MDB).

Vice President, Rafizi Ramli claimed Datuk Seri Najib Tun Razak will use a "lifeline" was the preferred choice for solving problems with debt-laden company on the grounds that one of the investment.

"Furthermore, as Tun Razak Exchange so close to KLCC, may be used an excuse, it's part of Petronas' investment in real estate around KLCC.

"During the time of Tun Dr Mahathir Petronas money was used to bail out Bank, Proton, MISC and includes shipping company owned by the son of former prime minister himself," he told The Star Online Wednesday.

He was responding to comments on this article Wall Street Journal (WSJ), which warned that Petronas funds may be used to save 1MDB investment if the company failed.

The warning came WSJ based on a review of development issues, when 1MDB was forced to sell its assets to cover debt load.

Asked about any means to prevent the funds from being misused for the purpose of Petronas, the Rafizis said it is quite impossible unless the prime minister sacked or 1MDB was closed.

"It can also occur if the BN lost in GE14. As long as the ruling BN and Datuk Seri Najib became Prime Minister, the risk of Petronas funds to be used is high, "he said.