Mahathir Mohammed as head of Malaysia’s sovereign wealth fund

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Mahathir Mohamad, who served as Malaysian prime minister from 1981 to 2003, said he had returned to politics to rid the country of unprecedented levels of corruption.

Prime Minister Mahathir Mohamad’s office said Monday that it was decided to appoint the prime minister as chairman of the board of directors of the sovereign wealth fund.

He added that the previous appointments apply immediately and that the appointment of the managing director of the fund, which is 157.2 billion ringgit (38.77 billion dollars).

The managing director of the fund and the entire board of directors offered to resign last week in the biggest change in the management of quasi-government companies since the new government came to power.

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