Prime Minister Anwar Ibrahim said the proposed legislation is aimed at preventing a recurrence of scandals such as 1MDB and crises involving Tabung Haji and Felda. (Reuters pic)KUALA LUMPUR: The government will introduce legislation to strengthen governance of government-owned companies and statutory bodies in a move to prevent a recurrence of scandals such as 1MDB.
Prime Minister Anwar Ibrahim said the bill, which will cover entities entrusted with managing public funds and assets, is aimed at preventing a recurrence of such scandals as well as crises involving Tabung Haji and Felda.
The 1MDB scandal involved the alleged misappropriation of billions of dollars from the sovereign wealth fund, triggering investigations across multiple countries and resulting in criminal convictions and legal proceedings.
