Malaysia: 1MDB not seeking China’s help: Chairman

Author(s): Trinna Leong | Date: December 9, 2016 | Language: English
Source: http://www.straitstimes.com/ | URL: https://goo.gl/tUNG8K | Type: Text

Malaysian state fund 1MDB’s court dispute with Abu Dhabi’s sovereign wealth fund over a US$6.5 billion (S$9.2 billion) claim is still “ongoing”, with the 1MDB chairman yesterday denying the firm had sought help from China to settle the sum.
“I am the chairman of 1MDB, and as I know, there is no such thing as us talking to China about this,” said Tan Sri Mohd Irwan Serigar Abdullah, who is also the Finance Ministry secretary-general.
“Nobody has spoken to me about it.”
He said this when asked by reporters to respond to a Financial Times (FT) report that 1Malaysia Development Bhd was enlisting China’s help to settle a multi-billion-dollar dispute with Abu Dhabi’s International Petroleum Investment Company (IPIC).
FT reported on Wednesday that China has been approached as a source of funds for 1MDB. The business newspaper cited three people with knowledge of the matter, one of whom said Malaysia would swap assets for financing.

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