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FINANCIAL NEWS
Abu Dhabi aims USD 6.5bn from Malaysia
15 Jun 2016
(MENAFN) Abu Dhabi fund is seeking for USD 6.5bn from Malaysia’s troubled state investment vehicle 1MDB.
Accordingly, the fund proclaimed that it had submitted its request to the London Court of Intl’ Arbitration.
Moreover, Malaysia Development Berhad, defaulted on USD 1.75bn in company bonds after missing an interest payment of USD 50mn.
However, Intl’ Petroleum Investment Co (IPIC) has accused 1MDB of failing to pay back a USD 1bn loan from the Abu Dhabi fund.
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