FILE PHOTO: A man walks past a 1 Malaysia Development Berhad (1MDB) billboard at the funds flagship Tun Razak Exchange development in Kuala Lumpur, in this March 1, 2015 file photo. REUTERS/Olivia Harris/File Photo
August 1, 2017
KUALA LUMPUR (Reuters) – Malaysia’s 1Malaysia Development Berhad (1MDB), which missed a deadline to pay about $600 million to Abu Dhabi state fund IPIC, said on Tuesday it will make the payment this month.
1MDB has written to IPIC to inform them that the payment obligations, originally due on July 31, will now be met in August, the Malaysian fund said in a statement.
The payment was part of its settlement deal over a bond dispute. It was supposed to be made from proceeds of 1MDB’s rationalization plan, but 1MDB is yet to receive those funds, it said.
(Reporting by A. Ananthalakshmi; Editing by Kim Coghill)