1MDB clarifies appointment of new exco chairman

KUALA LUMPUR: 1Malaysia Development Bhd (1MDB) today clarified that the appointment of Datuk Mohammad Faiz Azmi as Chairman of its newly-formed Executive Committee (Exco) is part of the scope and services provided by PricewaterhouseCoopers Advisory Services Sdn Bhd (PwC) to it.

He represents PwC.

In a statement, 1MDB said PwC is assisting the board and the Exco in recovering assets and in managing the company’s debt.

On June 25, 1MDB said it had formed the Exco to manage the company, with Datuk Mohammad Faiz Azmi, Datin Rashidah Mohd Sies and Datuk Wan Mohd Fadzmi Wan Othman as members. - Bernama