Auditor-General lists a litany of issues in 1MDB

PETALING JAYA: Poor corporate governance and internal controls within troubled 1MDB led to instances where management action and board decisions were not organised properly, said the Auditor-General in its executive summary of the 1MDB audit report.

In its report, the Auditor-General said that 1MDB’s rationalisation plan – assuming there are no new loans after October 2015 – estimated that RM42.26bil was needed to pay the principal and interest that will be due between November 2015 and May 2039.