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Report: 1MDB misses noon deadline to pay IPIC

1MDB has missed the noon deadline for its first payment of RM2.58 billion to International Petroleum Investment Co (IPIC) over their settlement agreement, according to sources quoted by The Edge Markets.

The payment was due at midnight, New York-time on July 31, which is noon today Malaysian time.

The Edge reported that the reason for the delayed payment is not known and it is also unclear if there are clauses in the settlement agreement that allow extensions.

[More to follow]

-Mkini

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