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1MDB scandal costs Malaysia RM50bil

KUALA LUMPUR: Malaysia would have been able to go ahead with the shelved mega-projects if not for the 1Malaysia Development Bhd (1MDB) scandal and other “mini 1MDBs” that are plaguing the country, said Finance Minister Lim Guan Eng. The scandal alone costs Malaysia RM50bil, says Finance Minister

KUALA LUMPUR: Finance Minister Lim Guan Eng (centre) visiting a exhibition during National Tax Conference 2018 'Taxation in a Changing Economy' at Kuala Lumpur Convention Centre, yesterday Also present were Chief Executive Officer Lembaga Hasil Dalam Negeri Malaysia (LHDN) Datuk Seri Sabin Samitah (right) and Secretary General of Treasury Datuk Seri Dr Ismail Bakar  - Bernama

Uncovering the true nature of public debt

FOLLOWING the sea change in government with the new Pakatan Harapan coalition in place, many observers are paying intense and critical attention to fathoming the true nature and size of the Malaysian government’s public debt obligations.

And large loans linked with the High Speed Rail Link and the East Coast Railway Link Project were not highlighted in the government’s Economic Report or the Budget presentation.

Swiss AG says 1MDB used as Ponzi scheme to bribe officials

KUALA LUMPUR: Malaysia’s 1MDB economic development fund was used as a Ponzi scheme by a clutch of conspirators to pay bribes and enrich themselves, Switzerland’s top prosecutor said days after former Malaysian Prime Minister Datuk Seri Najib Tun Razak was charged with corruption for his role in the affair.

From left: Attorney-General Tommy Thomas, Finance Minister Lim Guan Eng and Swiss Attorney-General Michael Lauber during their meeting on Tuesday (July 10).

Former Goldman Sachs banker in 1MDB plea talks with US, says WSJ

SINGAPORE: A former Goldman Sachs Group Inc. banker is in talks with U.S. prosecutors to potentially plead guilty to criminal charges stemming from an alleged scheme to steal billions of dollars from a Malaysian state investment fund, the Wall Street Journal reported, citing people familiar with the matter.

Bloomberg file pic of Tim Leissner.

1MDB exco chairman to help PwC recover assets, manage debts

KUALA LUMPUR: The appointment of Datuk Mohammad Faiz Azmi as the chairman of the executive committee is part of the scope and services provided by PricewaterhouseCoopers Advisory Services Sdn Bhd (PwC) to 1Malaysia Development Bhd (1MDB).