1MDB's new board to meet on Thursday

The newly constituted board of 1Malaysia Development Bhd (1MDB) will hold its inaugural meeting this Thursday.

Treasury Secretary-General Tan Sri Dr Mohd Irwan Serigar Abdullah chairs the three-member board.

The others are the Senior Private Secretary of the Chief Secretary to the Government, Datuk Norazman Ayob and Chief Operating Officer of Prokhas Sdn Bhd, Datuk Kamal Mohd Ali.

Mohd Irwan said 1MDB President and Group Executive Director Arul Kanda, would brief members on matters concerning the strategic investment fund.

"We will move on from there," he told reporters when asked about the latest developments on 1MDB after launching "The National Code Challenge" at the Finance Ministry here today.

The newly-appointed board was announced by the Finance Ministry last month, after its previous members officially resigned.

Mohd Irwan said the meeting would discuss ideas for the implementation of 1MDB's rationalisation plan and the Public Accounts Committee's (PAC) recommendations.

Elaborating on the rationalisation exercise, Mohd Irwan said the board was going to look at 1MDB's liabilities and assets as part of the process.