FAQ About 1MDB
Q1. Is 1MDB a sovereign wealth fund?
No. 1MDB is a strategic development company, wholly owned by the Government. However, unlike sovereign wealth funds, which are funded by and act as investment holding arms of the Government, we raise and invest our own capital.
1MDB’s mission is to drive the sustainable long-term economic development and growth of Malaysia by forging strategic global partnerships and attracting foreign direct investment into the country. 1MDB also participates in strategic sectors that ultimately help drive the country’s socio-economic growth.
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Kuala Lumpur – Malaysian Prime Minister Datuk Seri Najib today says that MACC has cleared him on corruption charges over a $700 USD million or RM 2.6 billion that was transfered to his personal account over an UMNO division meeting at Bandar Tun Razak Today.
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Kuala Lumpur: The Malaysian Anti-Corruption Commission (MACC) today stated that investigation revealed that the money deposited directly into Najib’s account did not come from investment arm 1MDB.”Investigations have found the RM2.6 billion which was allegedly deposited into the prime minister’s accounts is the contribution of donors and not from 1MDB funds,” said the commission in a statement. The statement came after hints from BN leaders recently that the money may be from donation sources. The investigation on SRC International Sdn Bhd which involves the sum of RM 4 billion is still ongoing.
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Putrajaya, August 1- Special Branch police has raided MACC DPP Ahmad Sazilee Abdul Khairy’s office and confiscate documents and laptop computer related on 1MDB. According to sources a team of police which consist of 12 men including officers and men raided Deputy Public Prosecutor’s office at Presint 3 at Putrajaya. The Special Branch also readed Sazilee’s home at Presint 11 earlier.
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