Prime Minister Najib Razak has appointed Chief Secretary to the Government Mohd Sidek Hassan to the Board of Advisors of 1Malaysia Development Bhd (1MDB).

NONE In a statement here today, 1MDB said it now has a strong board comprising eminent persons, both locally and globally, appointed by Najib, who is its chairman.

The advisors will help shape the trajectory of 1MDB as well as ensure that the highest standards of corporate governance are adhered to, it said.

Najib also appointed Chang Zhenming, vice-chairman and president of Citic Group of China, to the board of advisors.

The current board members are Minister in the Prime Minister's Department, Nor Mohamed Yakcop; Dr Wan Abdul Aziz Wan Abdullah secretary-general of Finance Ministry); chairman of Abu Dhabi Executive Affairs Authority and chief executive officer (CEO) and managing director of Mubadala Development Co, Khaldoon Khalifa Al Mubarak; and, group chairman and CEO of LVMH Moët Hennessy Louis Vuitton, Bernard Arnault.

1MDB CEO, Shahrol Halmi, said the company was honoured to have Mohd Sidek in the board.

"His advice will help enhance the synergies between 1MDB, as a wholly-owned government company and the government," he said.

Shahrol said 1MDB’s effectiveness would be multiplied given his experience in cross-ministerial initiatives towards building a more vibrant and competitive economy.

- Bernama