1MDB US settlement / Philippines public works / Bhutan OAG unit

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Malaysia's 1MDB scandal: Goldman Sachs set to pay US$2 billion to US authorities.  "Goldman Sachs has reached a long-awaited pact with the US Department of Justice to pay more than US$2 billion for the bank's role in Malaysia's 1MDB scandal…It follows an agreement in July to settle a related probe with Malaysia, in which the bank promised to pay US$2.5 billion. Malaysia dropped criminal charges against the New York-based company in early September."

South China Morning Post: https://www.scmp.com/news/asia/southeast-asia/article/3106244/malaysias-1mdb-scandal-goldman-sachs-set-pay-us2-billion

 

COA flags ₱432M in excess costs for DPWH projects.  The Philippine Commission on Audit  (COA) "found discrepancies in the costing of 184 projects by various offices under the Department of Public Works and Highways [DPWH] in 2019…excessive contract costs and overestimated quantities of certain items resulted in a total variance of about [approx. US$8.9 million]"

AC Nicholls/CNN Philippines: https://www.cnnphilippines.com/news/2020/10/19/COA-excess-costs-delayed-projects-DPWH-2019.html  

 

[Bhutan's] OAG creates a Governance and Corporate Legal Service Unit.  "The Office of the Attorney General (OAG) has created a Governance and Corporate Legal Service Unit…mandated to bring reforms to the existing government procurement and contracting system, and review the dispute resolution process involving commercial disputes,"

Kuensel: https://kuenselonline.com/oag-creates-a-governance-and-corporate-legal-service-unit/  

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