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Malaysia’s finance ministry appoints new Board of Directors for 1MDB

As the previous board dissolved following a parliamentary inquiry into the state fund, Malaysian Finance Ministry appointed a new board of directors for scandal-hit 1 Malaysia Development Berhad.

1MDB gets its new board of directors after the previous The previous board was dissolved following a parliamentary inquiry into the state fund

Malaysia’s finance ministry announced on Tuesday a new board of directors for scandal-hit 1 Malaysia Development Berhad (1MDB), after the previous board was dissolved following a parliamentary inquiry into the state fund.

The new three-member board would be chaired by Mohd Irwan Serigar Abdullah, secretary-general of treasury for the finance ministry, Norazman Ayob,senior private secretary to the chief secretary of government, and Kamal Mohd Ali, chief operating officer of Prokhas Sdn Bhd, an advisory and project management firm owned by the finance ministry.

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The ministry also said in a statement that “tangible progress” is being made on transfer of ownership of 1MDB’s real estate assets – Bandar Malaysia Sdn Bhd, TRX City Sdn Bhd, Air Itam lands and Pulau Indah land to the finance ministry.

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First published on: 31-05-2016 at 02:49:34 pm
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