Malaysia dissolves 1MDB advisory board headed by Najib

Kuala Lumpur

MALAYSIA's finance ministry said on Wednesday that it would dissolve the board of advisers at 1Malaysia Development Berhad (1MDB) and take over its remaining assets, in an apparent move to scale down a state fund whose scandals have rocked the government.

Prime Minister Najib Razak is facing calls to step down over 1MDB, which was his pet project and whose advisory board he chaired. The fund is now being investigated for money-laundering in at least six countries including the US, Switzerland and Singapore.