1MDB missed US$629m payment? It's a technical matter, says Najib

Kuala Lumpur

MALAYSIA'S Prime Minister Najib Razak has dismissed a missed payment of US$629 million by embattled 1MDB to International Petroleum Investment Company (IPIC) as a "technical matter" that is not expected to affect investor confidence.

"On 1MDB, a statement has been issued. This is a technical matter and not a question of being unable to pay. This is not expected to hurt confidence in the Malaysian economy," he told Parliament on Tuesday, in reply to opposition leader Wan Azizah Wan Ismail, who had asked about the repercussions of the missed July 31 deadline under a settlement agreement reached by the parties in April.

At a separate event, Second Finance Minister Johari Abdul Ghani told reporters that the state-owned strategic investment company and IPIC should be allowed to settle the issue. He was quoted by news portal Malaysiakini as having said: "Since they have not come to the F…