15 May '18, 1pm

New #Malaysia govt declassifies #1MDB audit report

KUALA LUMPUR (REUTERS) - Senior officials at scandal-plagued state fund 1Malaysia Development Berhad (1MDB) withheld information from its board and took some decisions without the board’s approval, according to a Malaysian government audit of the fund that was declassified on Tuesday (May 15). Malaysia, under former Prime Minister Najib Razak, had classified the audit report in 2016 under the Officials Secrets Act when the fund’s financial troubles were being investigated. Reports had emerged by that time that about US$700 million (S$940.3 million) from 1MDB had gone to Najib’s personal bank accounts. Najib denied any wrongdoing and the attorney general cleared him following local investigations. After Najib lost last week’s election, new Prime Minister Mahathir Mohamad said he would reopen investigations into 1MDB and declassify the audit report. He barred Najib and his w...

Full article: https://www.straitstimes.com/asia/se-asia/new-malaysia-go...

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