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1MDB pays US$350m to IPIC before Aug 12 deadline

Firm remits US$40m more than that demanded by IPIC

1MDB said "the balance of the original 31 July 2017 payment obligation to IPIC is now due on 31 August 2017", referring to about US$279 million still outstanding.

Kuala Lumpur

AHEAD of an Aug 12 deadline, Malaysia's 1MDB has settled the equivalent of US$350 million owed to International Petroleum Investment Company (IPIC) from what it said were "proceeds of the on-going rationalisation programme".

The scandal-tainted investment company

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