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

Firm remits US$40m more than that demanded by IPIC
Saturday, August 12, 2017 - 05:50

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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