<div class=newsTextDataWrapInner><p>KUALA LUMPUR (April 7): The board of directors of 1Malaysia Development Bhd (1MDB) did not approve the US$700 million that was paid to Good Star Ltd as part of the US$1 billion joint venture with Petro Saudi International Ltd in 2009.</p></div>

<div class=newsTextDataWrapInner><p>The Public Accounts Committee (PAC) report released in Parliament today also gave several instances where the management had misled or hidden information from the board, with regards to the joint venture (JV), which it said was also rushed through in a matter of days.</p></div>

<div class=newsTextDataWrapInner><p>Among others, PAC said the management led by then 1MDB chief executive officer Datuk Shahrol Halmi did not inform the board of a so-called US$700 million loan that was signed between Petro Saudi and the JV company that was the basis of the payment to Good Star.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>It added that 1MDB has to date not provided any evidence that there was indeed such a loan.</p></div>

<div class=newsTextDataWrapInner><p>&nbsp;</p></div>


KUALA LUMPUR (April 7): The board of directors of 1Malaysia Development Bhd (1MDB) did not approve the US$700 million that was paid to Good Star Ltd as part of the US$1 billion joint venture with Petro Saudi International Ltd in 2009.

The Public Accounts Committee (PAC) report released ...

1MDB board did not okay US$700m payment to Good Star

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Thai banks will cut lending rates by 25 basis points for vulnerable groups for a period of six months, a bankers' association said on Thursday, responding to a government request to help small businesses.

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<p>KUALA LUMPUR (April 25): Mega First Corp Bhd shares have likely peaked following a recent rally to new all-time highs, and investors should stop buying the stock now, Maybank Investment Bank (Maybank IB) said and downgraded the stock to ‘hold’.</p>

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<p>Malaysia’s consumer inflation came in lower than expected in March from a year earlier as prices of healthcare and food rose at a slower pace, official data on Thursday showed.</p>

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