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    Report Social Enviroment 1MDB

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    Abuja syg
    1. The 1MDB scandal involved Malaysia's strategic development company 1Malaysia Development Berhad, which was established in 2009 to promote Malaysia's economic growth through foreign investment. 2. 1MDB accumulated large debts and was unable to repay them. An investigation found that the company's top management, including the former Prime Minister, siphoned billions from 1MDB through money laundering and embezzlement. 3. The mastermind behind the scandal, Jho Low, is still wanted by Malaysian authorities for his role in defrauding 1MDB of billions. The scandal had significant negative effects, damaging Malaysia's reputation as a destination for foreign investment.

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    Report Social Enviroment 1MDB

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    Abuja syg
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    1. The 1MDB scandal involved Malaysia's strategic development company 1Malaysia Development Berhad, which was established in 2009 to promote Malaysia's economic growth through foreign investment. 2. 1MDB accumulated large debts and was unable to repay them. An investigation found that the company's top management, including the former Prime Minister, siphoned billions from 1MDB through money laundering and embezzlement. 3. The mastermind behind the scandal, Jho Low, is still wanted by Malaysian authorities for his role in defrauding 1MDB of billions. The scandal had significant negative effects, damaging Malaysia's reputation as a destination for foreign investment.

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    1. The 1MDB scandal involved Malaysia's strategic development company 1Malaysia Development Berhad, which was established in 2009 to promote Malaysia's economic growth through foreign investment. 2. 1MDB accumulated large debts and was unable to repay them. An investigation found that the company's top management, including the former Prime Minister, siphoned billions from 1MDB through money laundering and embezzlement. 3. The mastermind behind the scandal, Jho Low, is still wanted by Malaysian authorities for his role in defrauding 1MDB of billions. The scandal had significant negative effects, damaging Malaysia's reputation as a destination for foreign investment.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    76 views2 pages

    Report Social Enviroment 1MDB

    Uploaded by

    Abuja syg
    1. The 1MDB scandal involved Malaysia's strategic development company 1Malaysia Development Berhad, which was established in 2009 to promote Malaysia's economic growth through foreign investment. 2. 1MDB accumulated large debts and was unable to repay them. An investigation found that the company's top management, including the former Prime Minister, siphoned billions from 1MDB through money laundering and embezzlement. 3. The mastermind behind the scandal, Jho Low, is still wanted by Malaysian authorities for his role in defrauding 1MDB of billions. The scandal had significant negative effects, damaging Malaysia's reputation as a destination for foreign investment.

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    BUSSINESS & SOCIAL ENVIRONMENT ISSUES

    1MDB SCANDAL

    BY: James Warwick

    INTRODUCTION:

    Business & social environment in today era, are most important factors that could affect the
    company. Social factors such as belief, practices and behaviour could be a factor for the company
    having a great leap of success business or a downfall for the Company. This key factor will represent
    the condition state of some business towards public. This report will summarize one of popular cases
    in Malaysia which name as 1MDB Scandal. This company were jeopardized by its top management
    using their wrong behaviours towards the company.

    What is 1MDB:

    1MDB or call as 1Malaysia Development Berhad are functioning as a company who


    promoting development future of Malaysia through foreign investment and partnership. 1MDB
    company were established in 2009.This company were developing a strategic initiative towards
    Malaysia economic for long term development. Most of the fund will invest into energy resource,
    real estate, tourism, and agriculture business. Most of the fund were invest on the skyscraper
    project which name as Tun Razak Exchange or Kuala Lumpur International Financial District (KLFID).
    Tun Razak Exchange were built for international finance and business.

    What happen to 1MDB:

    Since it was established, the company were firstly been audited for financial performance
    under auditor official secret Act 1972 by National Security Council. When the new Prime Minister of
    Malaysia for 14th General Election step up in 2018, the Prime Minister want the declassification of
    the report and been reviewed by new Minister of Finance. The company was insolvent and unable to
    repay debts.

    Who was involved in 1MDB scandal:

    The company from top management were been target as Chairman of 1MDB, Prime Minister
    of 13th, Dato’ Sri Najib Razak which one of the culprit of the scandal. Other than that, his wife, Datin
    Sri Rosmah Mansor, were also been guilty on money laundering case but she refuse and pleaded as
    not guilty. Lastly, The mastermind of the this scandal are Jho Low which found guilty and still running
    from Malaysia. Last location that been know were Jho Low was in China.

    How the timeline 1MDB till expose:

    Law that Act on 1MDB:

    All the money that were disappear which using for money laundering will categorize on
    Section 4(1) of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful
    Activities Act 2001 (AMLATFPUAA). Since the chairman is the Prime Minister of Malaysia 13 th, the
    law that been act as Section 23 of the Malaysian Anti-Corruption Commission (MACC) Act 2009
    which been using his power to do wrong things.
    Effect of 1MDB Scandal:

    Based on my point of view, there are such more effects towards the company and country of
    Malaysia. The company were been trusted to invest on development for Malaysia but the top
    management were doing opposite of the job that were supposed to run. This company developing a
    bond towards investor from around the world. Losing trust and satisfaction of investor will lead a
    trust issues towards other company in Malaysia. This will make the company harder to develop and
    make profit from investor. (investor)

    Looking into the internal organization, the employee might have rough decision to work
    inside the company. This wrong practice will make the innocent employee could lead to disaster in
    their work fields. The employee try to do a good practices in work without doing a wrong things.
    Most of the employee’s religion in the company are from Islam where their practices during work
    are being truthful and honest but the company were doing wrong things. When the employee
    talking about the wrong things on anyone else beside the company’s employees, it could be their
    last day of their job and could be lose of fund for their family. (employee)

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