KUALA LUMPUR, May 17 — A Malaysian government advisory panel set up by new Prime Minister Tun Dr Mahathir Mohamad announced today that it will set up a committee to look into matters related to the controversial state fund 1Malaysia Development Berhad (1MDB).

The panel, the Council of Eminent Persons, said it "recognises the importance” of having a committee focus specifically on the multi-billion-dollar scandal tied to 1MDB, founded by former Prime Minister Datuk Seri Najib Razak.

"Until and unless the issue of 1MDB is resolved, there will be questions that undermine public confidence in the government and its institutions,” the council said in a statement.

The 1MDB committee will be made up of five members, led by former Attorney-General Tan Sri Abu Talib Othman. — Reuters