1MDB says it has paid S$477 million under debt deal

1MDB says it has paid S$477 million under debt deal

In an Aug 8 statement on the LSE, IPIC said it granted an extension subject to MoF Inc and 1MDB making part payment of not less than US$310mil due by Aug 12, 2017.

1MDB has previously written to IPIC to inform the Abu Dhabi-based company that the payment, originally due on July 31, 2017, will be paid in August 2017 instead as it awaits the necessary fund.

1Malaysia Development Berhad (1MDB) said on Friday (Aug 11) it has remitted the equivalent of US$350 million to the Abu Dhabi government-owned International Petroleum Investment Co (IPIC).

"By all public pronouncements from 1MDB and by ministers in Parliament, 1MDB certainly doesn't have "the equivalent of US$350 million" or almost RM1.5 billion in cash sitting around in its local bank accounts", Pua said in a statement today. "All funds paid to IPIC are from proceeds of the ongoing rationalisation programme".

Scaramucci: Trump Has to 'Move Away' from 'Bannon-Bart Nonsense'
But I mean at the end of the day, I think the president has a very good idea of who the leakers are inside the White House.

A total of US$4.5 billion was misappropriated from 1MDB, according to dozens of civil lawsuits filed by the department in the past two years.

United States law enforcement is intensifying a criminal investigation into a multi-billion dollar alleged fraud at Malaysian sovereign wealth fund 1Malaysia Development Berhad (1MBD), Bloomberg reported Thursday.

The sum 1MDB requires to make to IPIC amounts to US$1.2 billion and is due to IPIC by 1st January 2018, as per the terms of the private arbitration between MOF, 1MDB, and IPIC.

A Malaysian opposition leader, Mr Lim Kit Siang, asked yesterday whether the extra funds paid by 1MDB to IPIC were actually an interest payment. He has been battling allegations that money from the fund had been stolen by him and his associates.

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