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Mass-resignation of 1MDB board unlikely to be good enough

THE first - and so far, only - conclusive official report on Malaysia's troubled 1Malaysia Development Berhad (1MDB) by the bipartisan Public Accounts Committee (PAC) was tabled in Parliament last Thursday.

As a result of the findings in the belated 106-page report, which highlighted a range of shortcomings and governance lapses in the state-backed strategic investment firm's decision-making process and untenable capital structure, the board of 1MDB decided to do the "right thing" and offered to resign...

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