Philippines wealth fund to ensure it doesn't go Malaysian 1MDB's way: CEO

Philippines wealth fund to ensure it doesn't go Malaysian 1MDB's way: CEO

Philippine President Ferdinand Marcos Jr. Photo from the Presidential Communications Office.

The Philippines’ new sovereign wealth fund is set to launch in the third quarter of this year with “proper” corporate governance to avoid the fate of scandal-ridden 1Malaysia Development Berhad (1MDB), according to its CEO.