Malaysia’s 1MDB says second payment made to Abu Dhabi for debt deal

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KUALA LUMPUR: 1Malaysia Development Bhd (1MDB) has remitted to the Abu Dhabi government-owned International Petroleum Investment Company PJSC (IPIC) the second tranche due on Aug 31, 2017 in full.

“The payment is pursuant to the Amendment dated Aug 8, 2017, to the Settlement Deed with Ministry of Finance Inc Malaysia and IPIC,” said 1MDB in a statement on Wednesday (Aug 30).

All funds were paid from proceeds of the on-going rationalisation programme, it added.

1MDB had remitted the first tranche, equivalent of US$350 million, to IPIC earlier in August. 

This comes after Abu Dhabi extended the deadline for the troubled Malaysian state fund to make a US$603 million debt payment, provided at least US$310 million was paid by Aug 12.



Source

Asia News

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