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IPIC gives 1MDB extension till Aug 31 — if it pays half the debt sum by Aug 12

Mimi Sabreena 6:03:00 PM Informasi

KUALA LUMPUR (Aug 8): International Petroleum Investment Co PJSC (IPIC) has granted 1Malaysia Development Bhd (1MDB) an extension until Aug 31 to pay up US$628.75 million it owed the Abdu Dhabi wealth fund — provided it pays US$310 million (RM1.33 billion) by Aug 12.

The announcement confirms an earlier statement by Treasury Secretary General Tan Sri Dr Mohd Irwan Serigar Abdullah that IPIC has granted 1MDB an extension after it failed to make the debt settlement payment to IPIC by July 31.

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