Malaysia's royal rulers have called for a quick and transparent investigation into state fund - 1Malaysia Development Berhad (1MDB) - that faces corruption and mismanagement allegations. The rare comment by the sultans of nine states and governors of the remaining four came in a statement issued late on Wednesday, saying the government's failure to give convincing answers on 1MDB may have resulted in a "crisis of confidence". The fund, whose advisory board is chaired by Najib Razak, Malaysia's prime minister, has amassed a debt of more than $11bn.
1MDB has denied all allegations of wrongdoing. Investigations being conducted by Malaysia's anti-corruption agency and other organisations have dragged on with no conclusion in sight, according to a news agency.
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