MANILA -- 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.
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Philippines wealth fund will 'avoid' fate of Malaysia's 1MDB, chief says
Fund to launch in Q3; China investment welcome despite maritime tensions
Philippine President Ferdinand Marcos Jr., center, signs the Maharlika sovereign wealth fund into law in Manila in July 2023. (Philippines' Presidential Photographers Association) © PPA/AFP/Jiji
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