Malaysia says will honour all its commitments amid 1MDB-IPIC row

A man (right) riding a motorcycle near his wooden home as Malaysia's iconic Petronas Twin Towers loom in the background in Kampung Baru.
A man (right) riding a motorcycle near his wooden home as Malaysia's iconic Petronas Twin Towers loom in the background in Kampung Baru. PHOTO: AFP

KUALA LUMPUR (Reuters) - Malaysia said on Monday (April 18) it would honour all its commitments in financial markets, after an Abu Dhabi sovereign fund claimed the country's finance ministry and state fund 1MDB had defaulted on an agreement reached in June.

International Petroleum Investment Company (IPIC) said earlier in a filing that it was now considering all its options to remedy the default.

"The MOF (ministry of finance) wishes to make clear that it will continue to honour all of its outstanding commitments in the financial markets," the ministry said in a statement.

 

The ministry said 1MDB and IPIC were in dispute over the obligations in respect to certain publicly issued notes.