The Business Times
business-time-50
SUBSCRIBERS

Bank Negara orders 1MDB to repatriate money sent overseas

google-preferred-sourceAdd BT as a preferred source
Published Thu, Apr 28, 2016 · 09:50 PM

    Kuala Lumpur

    MALAYSIA'S central bank on Thursday ordered troubled state-owned investment firm 1MDB to repatriate money that was sent overseas without approval, putting further strain on the scandal-plagued company just days after it defaulted on a bond issue.

    The fund, founded in 2009 by Prime Minister Najib Razak, is teetering on the brink of collapse amid multiple investigations around the world into allegations that billions were looted from it.

    central bank

    TRENDING NOW

    Zhang Yiming’s net worth climbs to US$92.8 billion, cementing his position as China’s richest person, according to the Bloomberg Billionaires Index.

    TikTok billionaire overtakes Mukesh Ambani as Asia’s second-richest person

    The lack of operational clarity in the shake-up of Indonesia’s commodities exports is showing up in trading activity, with fresh fruit bunch prices declining in Sumatra and Kalimantan.

    Indonesia’s commodity export shake-up sparks industry alarm, investor jitters

    The Orchard Boulevard plot is estimated to yield around 110 new private homes.

    Orchard plot, Jurong East EC, Raffles Town Club site among 10 new housing parcels in H2 GLS plan

    The departure of food manufacturing operations from Singapore may not necessarily be reason for concern.

    Yeo’s, Tiger Beer and now Gardenia – flight of food manufacturing from Singapore might be just as planned

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More