In the past, Malaysia has been described as "Bolehland", the land of "endless possibilities" and more recently, a "kleptocracy".

However, for Pakatan Harapan chairperson Dr Mahathir Mohamad, the term "Darul Penyangak" (land of thieves) would more aptly describe the country's present circumstances.

"In a Darul Penyangak, the rulers steal... the goal is to steal from the rakyat through legal means, but more often through illegal means," Mahathir posted on his blog today.

Elaborating, Mahathir alleged that a certain sovereign wealth fund was one such method of theft.

"The process is simple: A company borrows billions, guaranteed by the government. The money is invested in fictitious companies which own oil fields on paper.

"In truth, the money went to the accounts of certain people. It is transferred from one bank to another, in different countries. In the end, the money ends up in MO1's account.

"When MO1 is asked where the billions came from, the answer is simple: It was donated by the Arabs," Mahathir wrote...