October 21, 2016 6:23 PM ET

Capital Markets

Company Overview of 1Malaysia Development Berhad

Company Overview

1Malaysia Development Berhad operates as a strategic development company. The company identifies new ideas and sources of growth to propel economic transformation in Malaysia. It focuses on creating new sources of growth in various sectors, including energy, real estate, leisure, tourism, and agribusiness. 1Malaysia Development Berhad was formerly known as Terengganu Investment Authority Bhd. and changed its name in January 2009. The company was founded in 2008 and is based in Kuala Lumpur, Malaysia.

Level 8

Menara IMC

No 8 Jalan Sultan Ismail

Kuala Lumpur,  50250


Founded in 2008


60 3 2730 8288


60 3 2072 9288

Key Executives for 1Malaysia Development Berhad

President and Chief Executive
Age: 40
Deputy Chief Executive Officer
Director of Corporate Finance
Director of Treasury
Chief Human Resource Officer
Age: 48
Compensation as of Fiscal Year 2016.

1Malaysia Development Berhad Key Developments

1Malaysia Development May Seek Acquisitions

According to the offering circular presented by Goldman Sachs Group Inc., 1Malaysia Development Berhad's remaining $744 million was designated for “general corporate purposes (which may include future acquisitions).”

1Malaysia Development Berhad Announces Resignation of Deloitte as Auditor

1Malaysia Development Berhad (1MDB) announced, on July 26, 2016, that it will appoint a new auditor to replace Deloitte, which it said notified the Malaysian state fund of its intention to resign on Feb. 26, 2016. Until a new auditor is appointed, Deloitte will remain as auditor on record.

1Malaysia Development Berhad Announces Board Changes

Malaysia's Ministry of Finance has announced the appointment of a new board of directors for 1Malaysia Development Berhad, succeeding the previous board, whose resignations take effect on May 31. The Ministry announced the new three-member board is chaired by Tan Sri Dr. Mohd Irwan Serigar Abdullah, secretary-general of treasury, ministry of finance. Fellow members of the board include Datoâ Norazman Ayob, senior private secretary to the chief secretary of the government, and Datoâ Kamal Mohd Ali, chief operating officer of Prokhas Sdn Bhd.  Mr. Arul Kanda will continue as president of 1MDB.

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