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1MDB Misses $603 Million Payment to Abu Dhabi Sovereign Wealth Fund

By Tony Seruga

Amount part of $1.2 billion settlement with Abu Dhabi’s IPIC
1MDB, IPIC have been in debt tussle for more than a year

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1Malaysia Development Bhd., the embattled state investment company, said it failed to make a $603 million payment to Abu Dhabi’s sovereign wealth fund because of a delay it faced in receiving the money.

Payments to International Petroleum Investment Co. would have been made from proceeds of a 1MDB rationalization plan, and funds that were expected to arrive last month have been delayed till August, it said in an emailed statement. The holdup was due to the need for additional regulatory approvals, it said…

1MDB Misses $603 Million Payment to Abu Dhabi Sovereign Wealth Fund

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