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Three-man board replaces 1MDB's six directors

Finance ministry says change reflects firm as non-operating unit, focusing on rationalisation plan and debt servicing

Kuala Lumpur

MALAYSIA'S Finance Ministry has appointed a new three-man board of directors for 1MDB to replace the previous six-member board that had been found to be remiss in its duties at the controversial state-owned development company by a parliamentary select committee.