What is 1MDB

 1Malaysia Development Berhad 

The starting point of 1Malaysia Development Berhad or 1MDB for short began way back in the year 2008, and it was known at that time as Terengganu Investment Authority (TIA). The name was later on changed to what it is right now, 1MDB, a company owned entirely by the Malaysian Government. One of the main reasons for the establishment of 1MDB in Malaysia was solely to push towards strategic planning along with initiatives for fostering partnerships and to promote foreign direct investment. 1MDB is independently operated and funded by the decisions that are driven by the national economy at its best interest. 1MDB for better understanding, is a huge wealth fund that has only once received RM1 million in equity at the time when the company was just starting out.

1mdb

1Malaysia Development Berhad 

The starting point of 1Malaysia Development Berhad or 1MDB for short began way back in the year 2008, and it was known at that time as Terengganu Investment Authority (TIA). The name was later on changed to what it is right now, 1MDB, a company owned entirely by the Malaysian Government. One of the main reasons for the establishment of 1MDB in Malaysia was solely to push towards strategic planning along with initiatives for fostering partnerships and to promote foreign direct investment. 1MDB is independently operated and funded by the decisions that are driven by the national economy at its best interest. 1MDB for better understanding, is a huge wealth fund that has only once received RM1 million in equity at the time when the company was just starting out.

1MDB Scandal? 

There are no doubts that 1MDB is in heavy debts and is perhaps in financial trouble. However, We believe in “Innocence until proven guilty”. 1MDB and it’s affiliates should be given the rights to defend themselves. The decision lays on investigators and Malaysian judiciary system.

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NAJIB-1MDBThe Main Purpose For 1MDB’s Existence

1MDB is aimed at one main goal and that is none other than driving sustainable long-term economic development and growth of Malaysia. Being a Government-owned company, and also the fact that 1MDB has its own sovereign management team, this allows them to use their combined resources to the fullest by tapping into the private sector by harnessing their expertise and capital which enables them to unleash this company’s full potential. Such a combinations gives 1MBD an edge and a unique ability to clear log-jams, unlock value and most importantly to drive forward future projects in Malaysia.

Some of the largest projects in Malaysia are headed and developed by 1MDB such as the Tun Razak Exchange (TRX) which is going to be Kuala Lumpur’s first and largest financial district once it is completed. This is no ordinary development which 1MDB has taken on as 70 acres of land, in the heart of Kuala Lumpur will soon be transformed into one of the finest financial centres here in Malaysia. This mega project that is located just minutes away from the Petronas Twin Towers is not the only large project that has been listed in their portfolio. The land area around the old Sungai Besi airport will also soon be transformed into an all new urban development in time to come, transforming the area into a fresh, modern and vibrant environment while serving as a benchmark for sustainable communities in the region. Investment funds of 1MDB that have been attracted via direct foreign investment will be used in hopes that it will soon benefit of the thousands of citizens in Malaysia by creating thousands of new jobs and more importantly by transforming these old districts into new and thriving ones.

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Apart from real estate developments, 1MDB focuses on another sector which is energy. The energy business investment sector of 1MDB has been a crucial part in the company. 1MDB is aimed at ensuring the standards of Malaysia’s energy security is at its best and at the same time, the company has been striving to maintain and build the confidence of investors in order to support the economic growth of Malaysia. Up to date, 1MDB has a portfolio of 15 power and desalination plants in five different countries. The 15 power plants contribute a total net power generation capacity of 5594MW and this is why 1MDB is said to be the second largest independent power producer in Malaysia.

1MDB – Its Contributions To Malaysia

1MDB’s main goal which is to drive sustainable economic development in Malaysia has always in fact been successful because of the partnerships formed and also of the promoting of foreign direct investments into Malaysia. There is also evidence that 1MDB has in fact built a successful track record in gaining the confidence of leading players from the international financial markets to Malaysia. This has also enabled direct capital cash-flow into Malaysia from abroad.

One of the largest developments by 1MDB, the Tun Razak Exchange (TRX) is an example of how foreign companies and institutions from China, Australia and the Middle East have played a huge part in investing in this development that will soon provide thousands of new jobs for the citizens in Kuala Lumpur alone. The support of these countries show that Malaysia is a country that is growing together with the global economy.

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1MDB has also given back to the citizens of Malaysia in more ways than one. The company has also been focusing its attention on the quality of life, youth development and education which is one the most important among the three. A staggering 2.5 million Malaysians have already reaped the benefits that have been generously offered by 1MDB which have been offered in various forms such as through diverse programmes that included scholarships, youth skills development, entrepreneurial training and even mobile healthcare.

1MDB – The Future

As far as 1MDB’s current projects are being executed according to plan, the aim of attracting more investors and leading partners from around the world will still be a goal that the company will work towards too. There are also new tenders which have been submitted in order for the next stage of development to begin which will include constructing the tunnels and road works too. All these plans will soon be announced to the public in time to come, here in Malaysia. Pinjaman perumahan

1MDB.net is not related nor affiliated with 1Malaysia Development Berhad. This website is not the official website for  1Malaysia Development Berhad. This website is voluntary setup to aggregate all news with regards to 1MDB and others happening news in Malaysia. 1MDB.net has no political affiliation and in only intended to help centralize all information on 1MDB news that was published by mainstream media.