The Minister of Finance Incorporated (MOF Inc) has agreed to fully implement the various recommendations contained in the Public Accounts Committee (PAC) report on 1MDB.

Among the PAC’s recommendations were the transfer of ownership of Bandar Malaysia Sdn Bhd, TRX City Sdn Bhd, Air Itam lands and Pulau Indah land to MOF Inc and the dissolution of the 1MDB board of advisers.

The MOF added that it has also agreed for the removal of Article 117 and to change all references from ‘prime minister’ to ‘minister of finance’ contained in the 1MDB memorandum and articles of association.