1MDB's US$2.3b Cayman fund now fully redeemed
US$1.1b balance in investment redeemed following an earlier amount of US$1.2b
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.
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