1MDB Completes Payment To IPIC
20 views · Published 28 December 2017 · 1:31 · Indexed 30 October 2026
Channel: 7Edition · 2017 · News & Politics
1Malaysia Development Berhad (1MDB) has remitted in full all funds required to be paid to International Petroleum Investment Company, (IPC) on Wednesday ahead of the December 31st deadline. 1MDB, in a statement said that the payment made was in pursuant to the settlement deed between IPIC and Minister of Finance Incorporated Malaysia and 1MDB. It also said that all funds were paid from proceeds of the on-going rationalisation programme. IPIC in a statement to the London stock exchange on Wednesday confirmed that it has now received all the funds required to be paid. It was reported that 1MDB was required to pay the Abu Ahabi company about US$600million by December 31st, as part of a settlement agreement reached in April.
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