No proposal to wind up 1MDB, investigation on going
KUALA LUMPUR: The government does not intend to start the process of winding up 1Malaysia Development Berhad (1MDB) as investigations on the misappropriation of the company’s funds are still going on.
The Finance Ministry in a written reply to Datuk Takiyuddin Hasan (PAS-Kota Bahru) dated Oct 15 said efforts to bring back 1MDB assets from other countries were still being carried out with various authorities.
Replying to a question by Takiyuddin on the full list of chairmen and Board members of IMDB and its subsidiaries now, the Finance Ministry said 1MDB Board three members namely Datuk Asri Hamidon as chairman while Datuk Kamal Mohd Ali and Datuk Norazman Ayob are board members.
The written reply was obtained by the media at Dewan Rakyat sitting yesterday.
According to the written reply, 1MDB has 22 subsidiaries and the Minister of Finance Incorporated (MKD) had agreed to terminate the existing board members and replaced them with Finance Ministry officers, Asri, Datin Rashidah Mohd Sies and Mohd Hisvamuddin Awang Abu Bakar.
The 22 1MDB subsidiaries encompassed 13 in the country, six in Labuan and three more companies were registered in British Virgin Islands.
The companies located in the country are 1MDB Energy Holdings Sdn Bhd, 1MDB Synergy Sdn Bhd; Ivory Merge Sdn Bhd; Merpati Energy (Langat) Sdn Bhd; Pelita Merpati Sdn Bhd; Plentitude Mentari Sdn Bhd; PM Global Energy Bhd, PM Power Sdn Bhd and Powertek Investment Holdings Sdn Bhd, Sino-Malaysia Holdings Sdn Bhd, Tadmax Power Sdn Bhd, Tenaga Merpati (Jimah) Sdn Bhd and Timeline Zone Sdn Bhd, 1MDB Energy.
The six subsidiaries located in Labuan are 1MDB Energy (Langat) Ltd, 1MDB Energy Holdings Ltd, 1MDB Energy Investments Ltd, 1MDB Energy Ltd, Infrastructure Capital Ltd and Ivory Point Ltd.
The 1MDB subsidiaries located at British Virgin Islands, Brazen Sky Ltd, Global Diversified Investment Company Ltd and Malaysia Investment Company Ltd. - Bernama