[KUALA LUMPUR] 1Malaysia Development Berhad (1MDB) said on Friday it has remitted the equivalent of US$360 million to the Abu Dhabi government-owned International Petroleum Investment Co (Ipic).
“All funds paid to IPIC are from proceeds of the on-going rationalisation programme,” 1MDB said in a statement.
Abu Dhabi this week extended a deadline for the troubled Malaysian state fund to make a US$603 million debt payment, provided at least US$310 million was paid by Aug 12.
1MDB said in the statement that the balance of the payment obligation to Ipic is now due on August 31.
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