MoF implements PAC’s recommendations on 1MDB

The MoF, as sole shareholder of 1MDB, has also decided to dissolve the board of advisors of MDB and accepted the resignation of the current board of directors of the state owned fund. These were among the recommendations contained in the PAC report on 1MDB that was released last month.

KUALA LUMPUR: The property development projects and parcels of land under 1Malaysia Development Bhd (1MDB) will be transferred to the Ministry of Finance Inc (MoF Inc) as recommended by the Public Accounts Committee (PAC).

The MoF, as sole shareholder of 1MDB, has also decided to dissolve the board of advisors of MDB and accepted the resignation of the current board of directors of the state owned fund.