1MDB scandal triggering one perfect storm after another

MALAYSIA's rancorous scandal centred around troubled 1Malaysia Development Berhad (1MDB) claimed its latest "casualties" of sorts on Monday - the country's bilateral relations with the Emirates and its top banker, Nazir Razak of CIMB Group.

It was another perfect storm, among several others that the controversy has spawned over the past year - except that this time, the threat of a potential debt default - and, by extension, a cross default - which has dogged loss-making and heavily indebted 1MDB seem dangerously close.

CIMB chairman Mr Nazir voluntarily made what must have been a difficult call - by choosing to go on leave pending a review of bank processes at CIMB. This followed revelations that he received US$7 milllion…