Auditor-General lists many wrongdoings within 1MDB as company relied heavily on debt to survive

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PETALING JAYA: Poor corporate governance and internal controls within troubled 1MDB led to instances where management action and board decisions were not organised properly, said the Auditor-General in its executive summary of the 1MDB audit report.

In its report, the Auditor-General said that 1MDB's rationalisation plan - assuming there are no new loans after Oct 2015 - estimated that RM42.26bil was needed to pay the principal and interest that will be due between November 2015 up to May 2039.