1Malaysia Development Berhad

1Malaysia Development Berhad (1MDB) is a strategic development company, wholly owned by the Government of Malaysia. 1MDB was established to drive strategic initiatives for long-term economic development for the country by forging global partnerships and promoting foreign direct investment. 1MDB is currently involved several high-profile projects such as the Tun Razak Exchange, Tun Razak Exchange's sister project Bandar Malaysia and the acquisition of three Independent Power Producers.

In 2015, allegations were made in several newspapers, including the Wall Street Journal, that the organisation had been used to siphon state funds into the accounts of Prime Minister Najib Razak, and people associated with him.

History

1MDB began as Terengganu Investment Authority (TIA), a sovereign wealth fund aimed at ensuring economic development for the state of Terengganu that is long term and sustainable while safeguarding the economic well-being of the people of Terengganu.

TIA was established in 2008, and was renamed 1Malaysia Development Berhad on January 2009. In his announcement on 22 July 2009, Prime Minister Najib Razak said the decision to expand TIA into a federal entity was made to enable its benefits to reach a broad spectrum of Malaysians rather than to the residents of only one state.

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Latest News for: 1mdb

Witness: 1MDB chose to split US$1b, not BNM's call

Malaysia Kini 21 Apr 2025
1MDB TRIAL . Ex-bank CEO details what went down over transaction. .

Warrants issued against 1MDB’s Loo back in 2018, court told

The Star 11 Apr 2025
PUTRAJAYA. Three arrest warrants were issued against Jasmine Loo, the former general counsel of 1Malaysia Development Bhd (1MDB), for her to be charged for alleged money laundering, the High Court here heard. Read full story ... .

1MDB withdraws suit against S’porean woman in Rosmah’s luxury goods case

Malaysia Today 10 Apr 2025
1MDB Energy Holdings Ltd, 1MDB Energy Ltd, 1MDB Energy (Langat) Ltd, Global Diversified Investment Company Ltd, SRC International Sdn Bhd, Affinity Equity International Partners Ltd, Alsen Chance ...

Najib had power to reject 1MDB board’s decisions, court told

The Star 09 Apr 2025
PUTRAJAYA. A former investigating officer told the High Court that Datuk Seri Najib Razak has the power to reject any financial decisions made by the board of directors of 1Malaysia Develop­ment Bhd (1MDB). Read full story ... .

1MDB: Witness protection chief rebuffs Najib's subpoena

Malaysia Kini 09 Apr 2025
The official is barred under Witness Protection Act from divulging details about its unit – prosecution. .

1MDB withdraws suit against S’porean woman in Rosmah luxury goods case

Malaysia Kini 09 Apr 2025
She was initially named as co-defendant with Rosmah. .

Najib had power to reject 1MDB board's financial decision, witness tells court

The Star 08 Apr 2025
PUTRAJAYA. A former investigating officer told the High Court that Datuk Seri Najib Razak held the power to reject any financial decisions made by the board of directors of 1Malaysia Development Bhd (1MDB). Read full story ... .
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