Bipartisan report finds signs of negligence in firm's running

Kuala Lumpur

MALAYSIA'S parliamentary Public Accounts Committee (PAC) report on the troubled 1MDB has found evidence of deleterious omissions, negligence and weaknesses in the management and operations of the development fund, but no wrongdoing on the part of Prime Minister Najib Razak.

Even so, the findings are bound to raise more questions about how state-owned agencies are managed, and whether 1MDB's former chief executive Shahrol Azral Ibrahim Halmi has been made the fall guy in the global scandal swirling around the controversial fund and its dealings.

Rather belatedly, the six-man board of directors (including Stanford graduate Mr Shahrol) collectively offered to resign on Thursday, following...

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