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.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Frasers Property H1 profit slides 81% on property value losses, lower residential contributions
US bill to restrict WuXi AppTec, Chinese biotechs revised to give more time to cut ties
Barclays cuts jobs in energy transition team it only just built
UMS Holdings Q1 net profit drops 44% to S$9.8 million
SIA Engineering H2 profit rises 11.5% to S$37.8 million on robust aviation MRO demand
Great Eastern shares jump 39% as OCBC mounts S$1.4 billion privatisation bid at S$25.60 per share