US$1.4b collateral payment to Abu Dhabi firm by 1MDB possibly not received: WSJ
1MDB slams journal's article, saying Abu Dhabi firm continues to provide guarantees for the principal and interest of its US$3.5 billion bonds
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Kuala Lumpur
ALREADY battling allegations of impropriety over some US$700 million of funds - purportedly state-linked - that were deposited into his personal bank accounts, Malaysia's Prime Minister Najib Razak is expected to face growing pressure after the Wall Street Journal reported that a purported collateral payment of US$1.4 billion by state-owned 1MDB to its Abu Dhabi partner, International Petroleum Investment Co (IPIC), had not been received by the latter.
1MDB made the payment after IPIC guaranteed its US$3.5 billion bond issue in 2012 for the purchase of a number of power plants in Malaysia and overseas.
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