Malaysia's Anti-Graft Efforts Haven't Put Investors at Ease
- Swiss, Singapore investigations continue into government fund
- Probes come amid headwinds for Malaysia growth and investment
The Petronas Twin Towers stand illuminated at night in Kuala Lumpur, Malaysia, on Monday, July 21, 2014. Malaysian Airline System Bhd. (MAS), reeling from its second disaster in four months, plans to present a revival plan to its state-run parent Khazanah Nasional Bhd. this week, people familiar with the matter said yesterday, amid reports the national carrier is likely near the end of its days as a publicly traded company.
Photographer: Brent Lewin/BloombergBank accounts frozen. Bankers quizzed. As offshore authorities seek to track money flows involving Malaysia’s troubled government investment fund, fresh questions are rising about doing business in the country.
Crisscrossing countries from Switzerland to the U.S., Middle East and Singapore, investigators are chasing a trail of transactions linked to 1Malaysia Development Bhd. With the probes potentially running for years, investors and analysts say it may damage the perception that Malaysia is trying to become a more transparent place.