Currently, 1MDB is under investigations by several parties, including Parliament’s Public Accounts Committee (PAC) and a special task force comprising the Attorney-General (A-G), Bank Negara, the police and the Malaysian Anti-Corruption Commission. As a consequence of Goldman Sachs having arranged a $3bn bond issue for 1MDB in 2013, the bank has been struggling to win new business in Malaysia due to its connection to the government development fund. The Malaysian prime minister, Najib Razak, is also under pressure over his handling of 1MDB. However, analysts believe the 1MDB debacle will soon blow over and Goldman Sachs says Malaysia continues to be an important part of their Asian business with some positive deals in the pipeline.
As a consequence of Goldman Sachs having arranged a $3bn bond issue for 1MDB in 2013, the bank has been struggling to win new business in Malaysia due to its connection to the government development fund. The Malaysian prime minister, Najib Razak, is also under pressure over his handling of 1MDB. However, analysts believe the 1MDB debacle will soon blow over and Goldman Sachs says Malaysia continues to be an important part of their Asian business with some positive deals in the pipeline.