NAJIB LIES AGAIN IN CLEAR SIGN 1MDB & GOVT OF MALAYSIA WILL DEFAULT AGAIN ON IPIC PAYMENT: 1MDB IS OWNED BY ‘THE COMPANY’ – WHICH COMPANY, NAJIB? YOU MEAN MINISTRY OF FINANCE INC? BUT THAT’S GOVT OF MALAYSIA TOO

KUALA LUMPUR – 1Malaysia Development Bhd (1MDB) will settle payments on its own to International Petroleum Investment Co (IPIC) under a debt-settlement agreement amounting to US$1.205bil (RM5.16bil), said the Prime Minister.

“As previously announced, 1MDB is owned by the company,” Datuk Seri Najib Tun Razak told Tan Sri Muhyiddin Yassin (Pribumi-Pagoh) in a written reply in Parliament.

Muhyiddin had asked the Finance Ministry to reveal the source of money to settle the debt with IPIC and if the Government would use public money for it.

Last week, Najib, also the Finance Minister, told the Dewan Rakyat that the delayed payment to IPIC was due to a technical matter.

A total of US$602.73mil (RM2.56bil), being the first of a two-part payment, was due on July 31 under a debt-settlement agreement amounting to US$1.205bil (RM5.16bil) that was reached in April this year.

The second payment of US$602.73mil (RM2.58bil) is due at the end of this year.

1MDB had issued a three-paragraph statement saying it had written to IPIC to inform them that the obligations would be made in August.

It said the delay was due to payments, which would be made from proceeds of the 1MDB rationalisation plan originally due last month, that had been pushed back due to additional regulatory approvals

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