Lead Story

  • Malaysia / 10 minutes ago

    Khazanah says had ‘no control’ over funds used to pay 1MDB debts

    Khazanah says had ‘no control’ over funds used to pay 1MDB debts

    KUALA LUMPUR, May 24 — Sovereign wealth fund Khazanah Nasional said it has no authority to determine how Putrajaya used the RM3 billion it raised via a share issue and which was allegedly used to service 1Malaysia Development Bhd’s (1MDB) debts. The firm noted that the shares were issued on behalf of the Finance Ministry, which was headed then by Datuk Seri Najib Razak. Khazanah added the Finance Ministry as its sole shareholder was authorised to redeem the share value at any time....

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