Commodities-Rich Sarawak’s Chief Minister Taib to Step Down

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Abdul Taib Mahmud plans to retire as chief minister of Sarawak, after running Malaysia’s commodities-rich eastern state for more than three decades.

Taib, 77, intends to inform Sarawak’s head of state to of his intention to resign, Malaysia’s official BernamaBloomberg Terminal news agency reported, citing the chief minister. The decision comes seven months after the Malaysian Anti-Corruption Commission formed a multi-agency task forceBloomberg Terminal to expedite investigations into claims of graft. Taib has denied corruption allegations, and press reports say he may seek to become the state’s governor.