1MDB in RM7.4b asset deal with KL-China tie-up

Kuala Lumpur

MALAYSIA'S troubled state fund 1MDB said on Thursday that it had agreed to a US$1.7 billion property deal with a Malaysian-Chinese group, wrapping up major asset sales to cut debt.

This will help Prime Minister Najib Razak, who chairs 1MDB's advisory board and who has faced calls to resign amid international probes and public outrage over allegations of graft and financial mismanagement at the fund.