1MDB will shut down after debts paid, says Irwan Serigar

TROUBLED sovereign wealth fund 1Malaysia Development Bhd (1MDB) will be shut down once it settles all its debts, company chairman Dr Mohd Irwan Serigar Abdullah was quoted as saying by media reports.

This comes a day after Swiss authorities say they will absorb RM400 million in 1MDB-linked funds languishing in Swiss bank accounts.