Najib deems RM1.1b valuation ‘subjective and unrealistic’

KUALA LUMPUR (June 28): The RM1.1 billion valuation of the luxury items seized by the police from properties linked to Datuk Seri Najib Razak has been deemed “subjective and unrealistic” by the former prime minister.

“It depends on the source of the stones, it depends when they were gifted or when they were purchased. So, let us not get too excited about it. Let us look at the items, every single item, and we hope to have a chance to examine these items,” Najib was reported as saying in a Malaysiakini interview yesterday.

He added that he was not provided with the full and detailed list of the items seized during the raids last month.

“But what I do know is over the years as head of the government, we have been gifted with a lot of items by foreign leaders as well as personal friends, and I do know under the law, it is not illegal to receive gifts. These gifts were accumulated over decades,” he said in the report.

Najib also said like any husband, he was unaware of the extent of his wife Datin Seri Rosmah Mansor’s collection of jewellery and other items.

He noted that Rosmah herself was surprised about the police’s latest disclosure yesterday. “I think the valuation ... she doesn’t believe it will come up to that amount. And also some items, the jewellers have got records that they were sent for viewing and to be returned. So we need to identify these items and return them,” he added.

Najib said a sizeable amount of the jewellery seized does not legally belong to Rosmah. Some belonged to their daughter Nooryana Najwa, her husband and mother-in-law.

Asked by Malaysiakini if it was ethical for someone in his position to accept valuable gifts, Najib cited former US president Barack Obama’s wife Michelle who had received millions from the late Saudi ruler King Abdullah Abdulaziz Al Saud.

Najib also said if the gifts are given by other heads of state during occasions such as one’s birthday and they are not expecting anything in return, it is not illegal.

“[Prime Minister Tun Dr] Mahathir [Mohamad] said on record he received 40 horses from his friends. I am sure there are other gifts [that] he [had] received as well throughout his career,” said Najib.

On the RM116 million cash in 26 different currencies seized by the police during the recent raids, which the former premier had claimed earlier to be for expenses for the 14th general election (GE14), Najib said: “You will not know how much it (an election campaign) costs exactly. You will not know as well how much people will contribute to you.”

“It is impossible to have a clean zero balance so to speak. In any case, when you fight an election, you have to spend pre-election, during election and post-election. Don’t forget I was president of Umno, and BN (Barisan Nasional) with 13 component parties,” he told Malaysiakini, noting some of the cash belonged to him.

“There were some of my own because I have been travelling for over 30 years, but there were also contributions in foreign currencies. Some people rather contribute in foreign currencies.”

On why the cash was kept at the Pavilion Residences, Najib explained that things were done in a haste following GE14 results. “Because it all happened in a hurry, you see. We had to vacate within two hours — the PMO (Prime Minister’s Office) and Sri Perdana.

“The intention is quite clear. They know when you fight an election, you also have to maintain cash. The opposition knows it as well. They also maintain cash.”

The former premier also alleged that “one of Dr Mahathir’s people” had collected RM10 million in cash from him for GE13. Describing him as one of Dr Mahathir’s “trusted aides”, he said the money was collected from his residence in Jalan Duta.

Malaysiakini reported that although Najib revealed the person’s name, it is withholding his identity pending his response.

“We have no system in this country for that (declaring gifts). I actually suggested in 2010 that there should be, when it came to donations, that we should have a system of transparency and we should record the donations with some independent body. I had that specific proposal, but at that time, it was rejected by the opposition, who are now part of the government.”

This article first appeared in The Edge Financial Daily, on June 28, 2018.

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