1MDB settles full payment to IPIC

1Malaysia Development Berhad (1MDB) says it has remitted all the funds required to International Petroleum Investment Company PJSC (IPIC).

In a statement today, the strategic investment company says the payment is due to IPIC by 31 December 2017‬.‬

"1MDB is pleased to announce that pursuant to the Settlement Deed with Minister of Finance (Inc.) Malaysia and International Petroleum Investment Company PJSC (IPIC), 1MDB has remitted to IPIC, in full, all the funds required to be paid to IPIC by ‪31 December 2017‬," the statement reads.

1MDB says, the funds were paid from proceeds of its ongoing rationalisation programme.