01.06.2016 - Malaysia announces wind-up of 1MDB
Malaysia has replaced the board of 1Malaysia Development Berhad with treasury officials, paving the way for the dissolution of the troubled state investment fund. A three-member board headed by the treasury's top administrative officer succeeded the board of directors of 1MDB, effective Tuesday, the Ministry of Finance said in a press release. "The change of board reflects 1MDB's new direction as a nonoperating company, focusing on completion of the successful rationalization plan and on servicing future debt repayments."..............................................Full Article: Source
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