Malaysia's 1MDB makes full payment to IPIC ahead of deadline

Malaysia's state-owned strategic investment fund 1Malaysia Development Bhd (1MDB) said Wednesday that it has made full payment to Abu Dhabi's government-owned International Petroleum Investment Co PJSC (IPIC), a former business partner.

1MDB said in a statement that it has remitted the full funds that required to be paid to IPIC by Dec. 31.

All funds were paid from proceeds of the on-going rationalization program, it said.

IPIC also confirmed on the London Stock Exchange that it had received the fund.

It was reported that 1MDB was required to pay 600 million U.S. dollars, which is the second payment or final tranche of its 1.2 billion U.S. dollars debt to IPIC.

1MDB previously settle the first payment of 600 million U.S. dollars by end of August, which was due by July 31.

(ASIA PACIFIC DAILY)