The Finance Ministry will take over 1MDB’s offices as its shareholders, said minister Lim Guan Eng.

This came after he held a briefing with 1MDB president and CEO Arul Kanda Kandasamy, its former CFO Azmi Tahir and former general counsel Ivan Chen.

“It is time for us to take over the offices of 1MDB and we have instructed Finance Ministry officials to take possession of the building as shareholders and the general counsel have agreed, and he’s handing over the keys to our possession.

“We hope that all the documents are still in place,” Lim told reporters at the lobby of the Finance Ministry after the briefing today.

Earlier, Lim had met with two 1MDB directors, Norazman Ayob and Kamal Mohd Ali. 

Lim said the two directors had indicated to him that they would furnish all documents to the ministry – including letters issued by the former finance minister, a portfolio held by the former prime minister Najib Abdul Razak.

Norazman and Kamal also supposedly told him that when they came onboard as 1MDB directors in 2016, the state fund was already insolvent.

"Insolvent because at that time, they said their company had losses around half a billion ringgit," he said.

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