Markets

Malaysia's 1MDB says US$350m paid to Abu Dhabi for debt deal

Malaysia's 1MDB says US$350m paid to Abu Dhabi for debt deal

Strategic fund 1Malaysia Development Bhd (1MDB) announced today that it has so far paid US$360 million (RM1.3 billion) to Abu Dhabi firm International Petroleum Investment Co (IPIC).

The debt-laden state fund missed the original July 31 deadline and a five-day extension after that and was given an extra week until Saturday to pay US$310 million.

"All funds paid to IPIC are from proceeds of the on-going rationalisation programme", said the investment body.

They said 1MDB made the payment on Thursday (Aug 10), ahead of the deadline on Saturday, the sources told Malaysian Insight.

In a declaration included in Justice Department's latest filings, a Federal Bureau of Investigation (FBI) agent warned that information in the civil cases may reveal "potential targets and subjects of the investigation and the investigative techniques that have been and will be used in the investigation", Bloomberg reported.

Trump tells Guam governor: 'We are with you 1000 percent'
However, Guam's security agency has issued a fact sheet with advice on what residents should do in the event of a nuclear attack. He told Calvo: "You notice that he hasn't spoken recently?" "We are with you 1,000 per cent, you are safe", he adds.

"1MDB has now remitted, to date, the equivalent of US$350 million to IPIC".

In its civil lawsuits filed previously, the department sought to seize a total of about US$1.7 billion in assets that it said were bought with misappropriated 1MDB funds.

Mr Low, whose whereabouts are not known, has denied accusations of wrongdoing.

Earlier, on Aug 1, IPIC informed the exchange that it "has not received payments of US$602.725mil and US$26.025mil that was due to be paid.", being the first of a two-part payment due on July 31 under a debt-settlement agreement amounting to US$1.205bil that was reached in April this year. Allegations of fraud involving 1MDB have already spooked investors by weighing on Malaysia's currency.

The Malaysian fund, founded by Malaysian Prime Minister Najib Razak, is facing money laundering investigations in at least six countries including the US, Switzerland and Singapore.


  • Upgrades Rating On Wal-Mart Stores, Inc. (WMT) To

    Upgrades Rating On Wal-Mart Stores, Inc. (WMT) To "Overweight"

    On Tuesday, May 23 the insider Canney Jacqueline P sold $104,113. 11,104 shares were sold by Gearhart Jeffrey J, worth $868,299. According to the above information, we will evaluate the Market Cap of this stock, DRYS has a market capitalization of $39.79M.
    PDP convention: We can not  afford another mistake -Mark

    PDP convention: We can not afford another mistake -Mark

    Chairman of the party's Board of Trustees (BoT), Senator Walid Jibrin said, "The PDP will never die". Worldwide organisations are coming to observe this convention.
    West Ham United should look at Nikola Kalinic

    West Ham United should look at Nikola Kalinic

    I don't think about it in a negative way. "I am very happy and glad, it's the best way to come back and open at Old Trafford. A total of 29 minutes, Hernandez talked honestly and at high speed.
  • Global Stocks Slide After Trump's 'Fire And Fury' Comment

    Global Stocks Slide After Trump's 'Fire And Fury' Comment

    Baker Avenue's Lip said the US market was higher due to "bargain hunters", but "there's more room for the market to come down". Financial stocks underperformed after US Treasury yields fell as bond prices rose in a flight to safety by nervous investors.
    Chainz Broke His Leg So Now He's Performing In A Pink Wheelchair

    Chainz Broke His Leg So Now He's Performing In A Pink Wheelchair

    So the rapper's producer hit up Sean Mahaney of Seanco Custom Wheelchairs. and Sean tells TMZ his team got a tricked out 2-wheeler in less than a week.in time for the tour's show in Tuscon.

    Sen. Sullivan: Congress won't allow an Executive strike against N. Korea

    Lindsey Graham asserted Thursday that the United States can not attack North Korea until they are "willing to finish the job". The North responded with a warning that it was considering an attack on the USA territory of Guam.
  • Swiss franc consolidates after rallying hard on North Korea tensions

    Dai-ichi Life Holdings dropped 1 percent, T&D Holdings fell 2.2 percent while Mitsubishi UFJ Financial Group declined 0.9 percent. Japan is the world's biggest creditor country and there is an assumption investors there will repatriate funds in a crisis.

    Dean Foods Company (NYSE:DF) Updated Broker Ratings

    The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website . Quadrature Capital Ltd purchased a new stake in shares of Dean Foods during the fourth quarter valued at approximately $386,000.
    How Japan Would Go to War Against North Korea

    How Japan Would Go to War Against North Korea

    Mothers told him they were "really apprehensive" because "you just don't know what's really going to happen". A boy plays near the World War II remnants of a torpedo at Asan Memorial Park on the island of Guam.
  • Guam Governor Says Trump Called, Assured Island Is Safe

    Guam Governor Says Trump Called, Assured Island Is Safe

    However, Guam's security agency has issued a fact sheet with advice on what residents should do in the event of a nuclear attack. He then reassures Mr Calvo, who he describes as a "hell of a guy", telling him the United States military is "rock solid".
    Insurance won't be valid without pollution certificate

    Insurance won't be valid without pollution certificate

    The government has also been directed to audit all the PUC centres to ensure credibility of the tests. The Supreme Court of India issued a list of directions to curb pollution on 10 August 2017.
    Retired Hudson to join Terriers' coaching staff

    Retired Hudson to join Terriers' coaching staff

    Part of a club statement read: "This transition was envisaged when Mark signed a new three-year contract at the Club in April 2016".