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1MDB scrubbing out its debt stains

Friday, January 1, 2016 - 05:50
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The world's most troubled sovereign fund is scrubbing itself clean. 1Malaysia Development Berhad has been at the centre of allegations of graft which have sparked investigations from Hong Kong to the United States. Now a US$1.7 billion deal with a Malaysian-Chinese group over prime real estate in Kuala Lumpur means 1MDB's financial woes are close to resolution.

THE world's most troubled sovereign fund is scrubbing itself clean. 1Malaysia Development Berhad has been at the centre of allegations of graft which have sparked investigations from Hong Kong to the United States. Now a US$1.7 billion deal with a Malaysian-Chinese group over prime real estate