1MDB has made a US$350 million payment to the International Petroleum Investment Company (IPIC).

The payment was made before the investment firm was scheduled to pay IPIC US$310 million on Aug 12, as part of its settlement with the Abu Dhabi state-owned fund.

In a statement released today, 1MDB said that it had "remitted, to date, the equivalent of US$350 million to IPIC".

It added that the payments to IPIC were from "proceeds of the ongoing rationalisation programme...