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Abu Dhabi's Mubadala awaits information on 1MDB payment, says source

Abu Dhabi's state investor Mubadala is awaiting information from banks on a payment worth about US$600 million that Malaysian state investor 1MDB was to make on Tuesday, a source familiar with the matter told Reuters.

The deadline for the payment was midnight Monday, New York time, or the early hours of Asia today (Tuesday), said the source, who asked not to be named because of the sensitivity of the matter.

The confusion about the payment grew after Malaysia's The Edge newspaper reported, citing unnamed sources, that 1MDB had missed the payment.

The Malaysian state investment fund reached an agreement in April to pay IPIC US$1.2 billion in two installments. 1MDB had said payments will be made to IPIC by monetising investment fund units.

IPIC, or International Petroleum Investment Company, was merged with Mubadala earlier this year.

- Reuters

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