Malaysia dissolves 1MDB advisory board; takes over its assets

Malaysia dissolves 1MDB advisory board; takes over its assets

A man walks past a 1 Malaysia Development Berhad (1MDB) billboard at the funds flagship Tun Razak Exchange development in Kuala Lumpur, REUTERS/Olivia Harris

Malaysia’s finance ministry said on Wednesday it would dissolve the board of advisers at state fund 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

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