Prime Minister Najib Abdul Razak claimed that 1MDB has played an important role in resolving the woes caused by the lopsided electricity power industry agreements signed by a "former leader".

"1MDB, in fact, played a key role in solving the lopsided power agreements signed by a former leader," Najib wrote on his blog today.

Najib said that when he took over as prime minister, there were serious "structural and legacy issues", including lop-sided independent power plant (IPP) contracts and "rampant crony capitalism".

Although he did not mention names, it was very clear that Najib was referring to the era of Dr Mahathir Mohamad's administration, which saw several IPP contracts being granted...