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1MDB holds board meeting in Lucerne

Issues discussed include 500 MV solar photovoltaic project across Malaysia

Anita Gabriel
Published Fri, Jun 13, 2014 · 10:00 PM
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Singapore

MALAYSIA'S state-owned fund 1Malaysia Development Bhd (1MDB) held a three-day board meeting this week in Lucerne, central Switzerland, to discuss several issues including a lofty solar power plan for the country.

A curious choice of venue, perhaps even extravagant, some may say for a sovereign wealth fund with largely home-based assets and given its highly indebted status - based on latest accounts, it has debts of over RM35 billion (S$13.6 billion).

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