Who directed the formation of a new entity for 1MDB CSR?

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Najib Razak Directed the Formation of a New Entity for 1MDB CSR

Datuk Seri Najib Razak, while serving as prime minister and finance minister, instructed 1MDB’s CEO Datuk Shahrol Azral to form a private limited company for 1MDB's Corporate Social Responsibility (CSR) projects. This directive was given to 1MDB’s Executive Director of the CSR division, Datuk Dr Shamsul Anwar Sulaiman, who was subsequently tasked with identifying and establishing a suitable entity. The decision to create a separate company arose from the 1MDB board of directors' concern over a conflict of interest, deeming it inappropriate for 1MDB itself to conduct CSR activities based on its own recommendations.
Formation of Ihsan Perdana Sdn Bhd

Following the board's concerns and Najib Razak's instructions, Dr Shamsul Anwar was mandated to find a shelf company to assume the CSR responsibilities. A company secretary, Rashidi Md Deris, recommended Gem Horizon Sdn Bhd as a suitable shelf company. Dr Shamsul Anwar was then instructed by the 1MDB board to resign from his position at 1MDB and proceed with forming the new entity specifically for the CSR projects.
Rebranding and Purpose of the New Entity

Gem Horizon Sdn Bhd was officially renamed Ihsan Perdana Sdn Bhd on October 24, 2011. This rebranding occurred because the name "Gem Horizon" was considered unsuitable by 1MDB's senior management for undertaking CSR work. Ihsan Perdana was established as a non-profit oriented company to manage 1MDB's CSR initiatives, effectively separating these activities from the parent company's core operations.
Financial Transactions and Trial Context

It was previously revealed in court that a sum of RM42 million from Ihsan Perdana found its way into two personal accounts belonging to Najib Razak between December 2014 and February 2015. These funds were transferred in three tranches: RM27 million, RM5 million, and RM10 million. Najib Razak is currently on trial for seven charges, including money laundering and criminal breach of trust, related to RM42 million that belonged to SRC International Sdn Bhd, a former subsidiary of 1MDB.

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Who directed the formation of a new entity for 1MDB CSR?

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