1Malaysia Development Bhd (1MDB) has remitted to International Petroleum Investment Co PJSC (IPIC) in full all the funds required to be paid to IPIC by Dec 31, 2017.
In a statement today, 1MDB said this was pursuant to the Settlement Deed with Minister of Finance Incorporated and IPIC.
1MDB and its owner, MOF Inc, had reached a settlement with IPIC in April, in which US$1.2 billion was to be paid to the latter in two equal tranches on July 31 and Dec 31 this year.
“All funds were paid from proceeds of the on-going rationalization programme,” it said.
