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Sovereign Wealth Funds Briefing - Categorized | Market

1MDB must explain Cayman Islands fund

Posted on 21 February 2014

National sovereign wealth fund 1Malaysia Development Bhd (1MDB)’s failure to file its audited accounts for the financial year ending March 2013 with regulators has raised questions over its transparency. Petaling Jaya Utara MP Tony Pua said this is even so when coupled with 1MDB’s decision to replace KPMG - its auditors since its inception - with rival firm Delloite.
Pua said the change of auditors “rings the loudest alarm” as there are many unanswered questions over 1MDB’s US$2.32 billion fund in the Cayman Islands………………………………………..Full Article: Source


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