This is what you need to know about 1MDB
PETALING JAYA: A committee to look into the 1Malaysia Development Berhad (1MDB) scandal has been set up by the Team of Eminent Persons.
“Until and unless the issue of 1MDB is resolved, there will be questions that undermine public confidence in the Government and its institutions.
“Towards this end, the Team has agreed to establish a committee on 1MDB,” it said in a statement Thursday (May 17).
The 1MDB committee will comprise:
> Former Attorney-General Tan Sri Abu Talib Othman;
> PricewaterhouseCoopers partner in risk assurance Nik Shahrizal Sulaiman;
> Naqiz & Partners senior partner Syed Naqiz Shahbuddin Syed Abdul Jabbar;
> Otoritas Jasa Keuangan Indonesia (the Indonesian financial services authority) senior adviser Faris Rabidin; and
> Centre to Combat Corruption and Cronyism (C4) founder Cynthia Gabriel.
Earlier this week, the Team also announced it was setting up an Institutional Reforms Committee (IRC) to examine the present state of key institutions and laws, and to recommend necessary reforms to ensure these institutions are not missed.
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