Malaysia's debt-laden 1MDB says not contacted by Swiss
Malaysia's debt-laden state fund 1Malaysia Development Bhd (1MDB) said on Sunday it has not been contacted by Swiss authorities but is ready to assist in any investigation if approached.
Switzerland's Office of the Attorney General on Friday said it had opened criminal proceedings relating to 1MDB, which involved "suspected corruption of public foreign officials, dishonest management of public interests and money laundering". "We remain committed to fully cooperate with all lawful authorities that are currently investigating 1MDB," 1MDB said in a short written statement.
1MDB, whose advisory board is chaired by Prime Minister Najeeb Razzaq, has been dogged by controversy over its $11 billion (Dh40.37 billion) debt and is being examined by authorities investigating accusations of financial mismanagement and graft. Najeeb is trying to reassert his leadership over his government and a stumbling economy following severe criticism after being embroiled in 1MDB scandal.