Finance Minister II Johari Abdul Ghani is not aware if China has been approached to assist 1MDB in settling its commitments to International Petroleum Investment Company (IPIC), amid a US$6.5 billion dispute between the Malaysian and Abu Dhabi state-owned funds.

"I have no knowledge what has been written and on the subject. Perhaps you should check with (1MDB president) Arul Kanda (Kandasamy)," he told Malaysiakini in a text message.

He was asked to comment on the report carried by UK's Financial Times (FT) which quoted sources who claim that China was approached as a source of funds for 1MDB.

"I see no reason why China has to get involved in this dispute," he stressed.

FT also added that one source said Malaysia would swap assets for the financing.

Asked if the government or the cabinet made any decision on 1MDB's repayment to IPIC or if Malaysia will swap assets for financing, he said no such thing came up.

"Not that I know of," said the second finance minister.

Earlier, PKR lawmaker Rafizi Ramli had raised concerns over the possibility that a major government-linked company (GLC) would be sold to China as part of a quid pro quo arrangement.

"The report by Financial Times is truly troubling as it appears to confirm the information I received a few months ago," he said in a statement today.

Arul Kanda, when contacted, said he had already responded to the FT about the alleged deal with China.

Pressed if he was denying the report, Arul Kanda only replied for his comment to the FT on the matter to be referred to.

In the report in the FT earlier today, Arul Kanda had declined comment on the matter.

He said 1MDB “does not have anything further to add to previous statements in relation to the ongoing dispute with IPIC".

1MDB and IPIC are currently in arbitration over the US$6.5 billion dispute at the London Court of Arbitration.