1Malaysia Development Berhad (1MDB) i


1Malaysia Development Berhad (1MDB) is a corporation that is wholly owned by the Malaysia Government for strategic development (Gomez et al., 2017). Established in 2009, the organization focuses on driving strategic initiatives for the state's sustainable economic growth by establishing global strategic alliances and encouraging foreign direct investment. The key task of 1MDB is to lead market-driven measures to help the government push Malaysia forward to become a developed country in 2020 that is extremely competitive, sustainable and inclusive. 1MDB has a three-tiered management consisting of the Executive Leadership Team, the Advisory Board and the Board members. The Chairman of the Board of Directors, the Chairman of the Board of Advisors, Tan Sri Dato 'Seri Lodin Wok Kamaruddin, and Arul Kanda, the President and Group Executive Officer, the Prime Minister, Dato' Sri Mohammad Najib Tun Abdul Razak.


1MDB was established in January 2009 and promoted sustainable long-term economic growth and development in Malaysia (Lean & Smyth, 2016). The company priorities of 1MDB include significant improvements in a series of diverse economic sectors, including tourism, agricultural sectors and property development. 1MDB has drawn a number of main players in Malaysia's foreign financial development market who are driving and sustaining socio-economic growth in various strategic sectors of the economy.

In past years, 1MDB has received criticism from whistleblowers, international and domestic mass media, institutions, and Malaysian people due to its unscrupulous actions contributing to the infamous corruption probe. Mismanagement of the organization's resources and lack of accountability are some of the problems that trouble the company as well as hinder Malaysia's economic growth in the international ranking of 54 out of 168 nations out of 50 (Yoong, 2018).  The organization’s debt levels are soaring at an alarming rate as it is not able to settle its debts with its creditors

Keywords: 1Malaysia Development Berhad, Malaysia Government

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