1MDB will pay fine, won't repatriate money

Kuala Lumpur

CONTROVERSIAL state-owned firm 1Malaysia Development Berhad (1MDB) has assured it would pay a "compound" levied by the central bank for its failure to fully comply with directions issued under the Financial Services Act 2013 (FSA), but is not expected to follow through on the central bank's earlier requirement that it bring US$1.83 billion back to Malaysia as the approvals granted previously have been revoked.

As such, governor Zeti Akhtar Aziz whose term ends on Saturday will get only partial closure on a controversy linked to the scandal-ridden development fund, which to some extent blighted an otherwise distinguished career of over three decades with the central bank.