1MDB bonds backed by Abu Dhabi fund gain 1.9%
This contrasts with notes supported by Malaysian government which slumped 6.4% in May
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Singapore
THE fortunes of bonds in Malaysia's troubled investment fund are diverging this month: those guaranteed by Abu Dhabi's sovereign wealth fund have rallied while notes with support from Malaysia's own government have dropped.
1Malaysia Development Bhd, whose advisory board was headed by Prime Minister Najib Razak, held talks with creditors on Monday after defaulting last month. Its 4.4 per cent 2023 notes, backed by a letter of support from the government, slumped 6.4 per cent in May, setting them on course for the worst slide in 16 months.
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