Kuala Lumpur

MALAYSIA'S 1MDB has finally redeemed in full the US$2.318 billion it invested in a Cayman Islands registered fund, a move it hopes will ease some of the criticism aimed at the beleaguered state-owned company.

In a statement on Tuesday, its newly appointed president and group executive director Arul Kanda said 1MDB had previously redeemed US$1.215 billion of the funds invested and had now redeemed an additional US$1.103 billion, representing the remaining balance of the total US$2.318 billion that was originally invested.