Friday 29 Mar 2024
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KUALA LUMPUR (Sept 7): 1Malaysia Development Bhd (1MDB) said it fully respects Tan Sri Dr Abdul Samad Alias' resignation, after the latter announced that he has quit as the company's advisory board member after his repeated requests for a briefing on the debt-laden firm's state of affairs over a period of six months were ignored.

“While we very much regret his departure, we fully respect his decision and wish Tan Sri Samad all the best in his future endeavours,” said the company in a statement today.

Earlier at a National Conference on Governance, Risk and Control here today, Samad was reported as saying that he had resigned from 1MDB's advisory board. He was appointed to the board in January this year.

"I requested for a briefing on the company's profit and losses. I waited for six months but there were no briefings. I quit after that," said Samad, who is the chairman of Malaysia Deposit Insurance Corp.

In response, 1MDB said its board of directors and shareholder of 1MDB are fully and actively engaged in the 1MDB rationalisation plan.

“This is evidenced by the shortlisting of four parties to the final bidding stage for the sale of Edra Global Energy Bhd, our energy subsidiary,” said 1MDB.

“In relation to Bandar Malaysia, further to the receipt of 12 bids on Aug 28, 1MDB expects to shortlist preferred bidders before the end of this week.

“1MDB remains focused on implementation of its rationalisation plan and will issue further progress updates in due course,” it added.

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