RABBIT HOLE: IPIC Says 1MDB is in Default After Missed Payment

Posted on 04/18/2016

Abu Dhabi’s International Petroleum Investment Company (IPIC) stated that its agreement to provide financial support to Malaysia’s 1Malaysia Development Berhad (1MDB) has been terminated. Talks between IPIC and 1MDB frayed over the fiasco of more than US$ 1 billion in missing payments. IPIC says that 1MDB and Malaysia’s Ministry of Finance failed to perform obligations […]

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