The failure of Malaysia’s ill-starred state run investment fund 1Malaysia Development Bhd to meet a RMB 2 billion (US$563 million) repayment to domestic banks spells bad news for Prime Minister Najib Tun Razak, the chief advisor to and ostensible brains behind the fund.
Reuters reported on Jan. 6 that 1MDB, as the fund is known, had missed a Dec. 31 paym…