1MDB's debt crisis is a stain on Malaysia
COMMENT Government-owned investment company 1Malaysia Development Berhad (1MDB) is playing a high-stakes game with the country's financial reputation.
1MDB's cash pile and a guarantee from a local billionaire suggest that a recent missed loan repayment is more negotiating tactic than a sign of financial distress.
Yet the lack of transparency at the indebted vehicle which counts Prime Minister Najib Abdul Razak as an adviser is hurting Malaysia.
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