'Qatar won't invest in 1MDB if it's unprofitable' - Najib

Datuk Seri Najib Razak said Qatar would not dare to invest in assets owned by 1Malaysia Development Bhd (1MDB) if the company (1MDB) is incapable of generating lucrative profits in the long term.

The Prime Minister said this proved that the assets owned by 1MDB were highly valuable and thus refuted the notion that the company did not have the potential to be rescued.

"I met with the Emir of Qatar recently and he said he was interested to invest in assets owned by 1MDB. This is an Islamic government itself that is interested.

"If people say the assets (of 1MDB) have no value, nobody would want to invest.

They (Qatar) see that the assets can generate lucrative long term profits," he said at the Gathering of the People With the Leader and Opening of the Rantau Panjang Umno Division delegates meeting at the Kolej Kemahiran Tinggi MARA (KKTM) Lubok Jong, here today.

About 20,000 local residents and delegates of the Rantau Panjang Umno division attended the gathering.

On July 31, Najib had an audience with the Emir of Qatar, Sheikh Tamim Hamad Al-Thani at the federal capital to discuss efforts to strengthen ties between Malaysia and Qatar.

The Emir of Qatar was in the federal capital to attend the 128th Conference of the International Olympic Committee (IOC) at the Kuala Lumpur Convention Centre (KLCC).

At the meeting, Najib was quoted as saying that the Emir of Qatar also stated that the Qatar Investment Authority was interested to look at the assets of 1MDB and was keen to purchase land at the Bandar Malaysia project.

Najib also repeated his earlier statement that everything pertaining to the 1MDB, especially the debts of the company, could be reduced at the end of the year through a program drawn up within the next six months.

"Give a six-month deadline up to the end of the year, I am certain we (the government) can resolve (the 1MDB problem). Our debts will be repaid according to schedule. Who does business without owing?" he said.

Earlier, 1MDB was reported to have assets worth RM51.4 billion and debts amounting to RM42 billion.

On the political funds amounting to RM2.6 billion, the UMNO president reiterated that he did not breach any law and did not seize the rights of the people as alleged by a handful of irresponsible people.

"What is important is that I did not violate any law and did not seize the people's rights. Why is it wrong when I help the party to win. Don't be hasty in humiliating other people," he said.

Meanwhile, he said every leader and party member must have the loyalty and discipline to maintain solidarity in the party to face the various challenges ahead.