#ipic

DAP PJ Utara MP Tony Pua does the math and finds troubling questions.

If it is, it is a hefty and extortionate 'default' penalty, says DAP stalwart Lim Kit Siang.  

UPDATED 4.55PM | The payment was made before 1MDB was scheduled to pay IPIC US$310 million on Aug 12.

YOURSAY | ‘The constant delays in repaying IPIC reflect badly on 1MDB’s managers.’

UPDATED 5.40PM | In a filing to the London Stock Exchange, IPIC says 1MDB is obliged to pay at least US$310 million by this Saturday.

Failure to meet the deadline today will cause 'additional obligations' to be imposed on 1MDB. 

No bank will touch the 'investment fund units' meant for paying IPIC, says the MP.

The minister says it’s a normal bond to fund the budget deficit, denies a 1MDB link.

UPDATED 2.25PM | The gov't will not assist 1MDB if it does not ask for help, says the second finance minister.

Pakatan Harapan info chiefs urge the Bank Negara, police and MACC to conduct probes into the matter.

PARLIAMENT | This is not expected to hurt confidence in the M'sian economy, Najib tells the House.

Failure to comply will subject 1MDB and MOF Inc to 'additional obligations'.

UPDATE 4.25PM | 1MDB admits that it is waiting for funds that have been delayed to later this month.

UPDATED 10.49AM | The embattled state fund has to pay RM2.58 billion to the Abu-Dhabi based sovereign wealth fund over its settlement agreement. 

This is because the key person involved is IPIC’s former managing director, says Jasa.

In a filing with the London Stock Exchange, IPIC reveals the consent award was granted on Tuesday.

1MDB has capitulated to all IPIC demands.

This is in light of new evidence, including information regarding the 1MDB-IPIC arbitration settlement, says DAP lawmaker. 

Marcus Mojigoh also says Johari should not have contradicted the prime minister on this matter.

COMMENT | The attorney-general must now act to get the real culprits.

MP SPEAKS | He should quit as finance minister II if he feels the IPIC deal is ‘beyond him’.

'As long as there are bonds outstanding, there will be contingent risks to the M'sian gov't'.

EXCLUSIVE | UPDATED 6PM | Johari says letter is from BVI Registrar of Corporate Affairs. This leads to the question as to why Malaysian team opted for a settlement then.

MP SPEAKS | Is agreeing to pay US$7.01 billion for a US$3.5 billion loan the 'responsible' thing to do?