1MDB to scale down ops

PETALING JAYA: 1Malaysia Development Bhd that has come under relentless attack for its financial transactions will be wound down by early next year.

According to sources, a programme is being crafted whereby Abu Dhabi will inject sovereign funds of up to US$4.5bil (RM16.4bil) into 1MDB – money that would be used to reduce its debts of RM42bil.

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