According to The Straits Times, the second instalment was paid with funds raised from the sale of investments in financial instruments held by 1MDB and stakes held in two related entities that own tracts of land in the state of Penang and another 128ha land parcel around Port Klang.
SINGAPORE (Dec 28): 1Malaysia Development Berhad (1MDB) had China state-owned companies to thank when it came to the final settlement of a loan to Abu Dhabi's sovereign wealth fund, according to media reports.
The payment, amounting to some US$600 million ($803 million), made last Friday was the second tranche for a US$1.2 billion emergency loan and other financial support International Petroleum Investment Company (IPIC) extended to 1MDB in July 2015 after the latter was unable to service its debt obligations.
