DAVOS, Switzerland (Jan 18): Malaysian Trade Minister Mustapa Mohamed said his country must get beyond the multibillion-dollar 1MDB scandal that has embroiled top figures in the country's political class and caused international embarrassment. Allegations that huge sums were misappropriated from the state backed 1MDB fund have triggered a scandal which has turned on Malaysian Prime Minister Najib Razak, who has denied any wrongdoing. Malaysia has been seized since 2015 by the scandal, which has sparked investigations in several countries, including Switzerland, Singapore and the United States. "We've learned many lessons and we are moving forward," Minister Mustapa told AFP on the sidelines of the World Economic Forum in Davos. The scandal has proven to be an embarrassment to Malaysia and drawn accusations that Malaysia failed in its response to the allegations.

Source: The Edge Markets January 18, 2017 04:53 UTC