Exco chairman appointment part of services by PwC — 1MDB

This article first appeared in The Edge Financial Daily, on July 11, 2018.
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KUALA LUMPUR: 1Malaysia Development Bhd (1MDB) said yesterday Datuk Mohammad Faiz Azmi’s appointment as its executive committee (exco) chairman forms part of services provided by PricewaterhouseCoopers Advisory Services Sdn Bhd (PwC) to 1MDB.

“Pursuant to the announcement made on the appointment of the exco members on June 25, 2018, the board of directors is pleased to clarify that Datuk Mohammad Faiz Azmi’s appointment as the chairman of the exco is part of the scope and services provided by PricewaterhouseCoopers Advisory Services Sdn Bhd to 1MDB.

“PwC is assisting the board and the exco in recovering 1MDB’s assets and in managing the company’s debt,” 1MDB said in a statement.

On June 25, 1MDB announced Mohammad Faiz’s appointment to the exco that was entrusted with managing the day-to-day running of the company.

Besides Mohammad Faiz, other members of the exco are Datin Rashidah Mohd Sies and Datuk Wan Mohd Fadzmi Wan Othman.