Update: Selepas 5 hari 1MDB tetap tak mampu bayar hutang

bit

Abu Dhabi Gives New Deadline as 1MDB Misses $600 Million Payment
Source:https://www.nytimes.com/reuters/2017/08/01/business/01reuters-malaysia-scandal-debt.html

ABU DHABI/HONG KONG — Abu Dhabi's sovereign wealth fund has given 1Malaysia Development Berhad's (1MDB) five days to make a $600 million payment, which the troubled Malaysian state fund failed to pay on Tuesday, further complicating a dispute hanging over Southeast Asia's third-biggest economy.

The 1MDB fund said in a statement it was committed to meeting its obligations to Abu Dhabi's International Petroleum Investment Company (IPIC), originally due on 31 July 2017, in August 2017. It did not specify a date in August.

It said all payments to IPIC would be made from the proceeds of the 1MDB rationalization plan, under which it is selling assets. It said the delay was also due to the need to get more "regulatory approvals".

But Mubadala, which now owns IPIC, said in a separate statement on Tuesday that 1MDB and the Malaysian finance ministry (MoF) have just five days to resolve the non-payment.

"Under the Settlement, there is a five business day cure period for MOF Inc. and 1MDB to remedy their non-payment before MOF Inc. and 1MDB become subject to additional obligations to IPIC and Aabar," Mubadala said.

Malaysia dissolved 1MDB's advisory board last year, and its assets were either shifted to the government or sold off as part of the rationalization program, after the fund was linked to a multi-billion dollar global money laundering scandal.

BANDAR MALAYSIA SALE

One such asset sale -- a $1.7 billion Bandar Malaysia property deal that was executed as part of the rationalization plan -- collapsed in May.

As part of the agreement with IPIC, 1MDB was to pay $1.2 billion in two installments. A second payment is due by the end of this year. 1MDB and Malaysia's Ministry of Finance will also assume responsibility for all future interest and principal payments under two bonds worth $3.5 billion in total.

The agreement was reached after the Malaysian fund defaulted on its bonds in 2016, sparking a dispute with IPIC, which asked a London court to arbitrate a claim totaling some $6.5 billion.

IPIC was merged with Mubadala earlier this year.

Bonds linked to 1MDB remained largely unmoved on Tuesday.

1MDB's 4.4 percent bonds due 2023 were trading slightly weaker at 91/93 while the bonds due 2022  were down half a point at 108.3/108.9 cents on the dollar.

"Despite the various guarantees and debt consolidation plans there is 1MDB debt outstanding, and the debt still presents a contagion risk to the government," said Moody's Analyst Christian de Guzman.

"We don't have a clear picture of what the liability structure looks like but it is much smaller than the last publicly disclosed level of 4 percent of GDP in 2014," he said.

RATINGS IMPACT

1MDB, founded by Prime Minister Najib Razak, is the subject of money-laundering investigations in at least six countries, including the United States, Switzerland and Singapore.

In civil lawsuits, the U.S. Justice Department alleged that about $4.5 billion was misappropriated from 1MDB.

1MDB has denied any wrongdoing and Najib has denied all allegations of corruption against him.

"We do not expect this bilateral dispute to impact Malaysia's sovereign ratings at this point," said S& Global Ratings analyst YeeFarn Phua.

"That said, failure to reach a settlement between 1MDB and IPIC would increase the possibility of these contingent liabilities crystalising on the Malaysia government's balance-sheet. Should that happen, it will worsen Malaysia's fiscal metrics."

Najib faced the biggest challenge to his leadership in 2015 after allegations that hundreds of millions of dollars was misappropriated from 1MDB.

He has resisted all calls to step down over the past two years, and is widely seen to have averted the crisis, as he prepares to call early elections this year for a fresh mandate.

malaisyah2

wow yeaayyyy

JerukBuaya

dia lupaaaaaaaaaa

bukannya mungkir janji

MakareyumSuciey

Bersedia ler pasni cukai Naik...tarif tu naik ni naik...

ResellerMaxis

JerukBuaya replied at 1-8-2017 09:20 PM
dia lupaaaaaaaaaa

bukannya mungkir janji

segala hutang 1mdb dah diambil alih oleh kementerian kewangan..tapi xkan kementerian kewangan xder duit nak bayar??hahaha bayar jer lah guna duit kutipan gst..xpun guna duit kutipan tax ke..kan individu n syarikat baru sahaja selesai menjalankan tanggungjawab mereka..mesti duit tengah banyak tu..

MatDeghem

Jho low dah enjoy dgn itu lerr

pattahamie

gst tak cukup ke bang jib nak cover bayar?

bit

Notis di London Stock Exchange bulan April 2017
http://www.londonstockexchange.c ... /61HK/13201700.html

International Petroleum Investment Company PJSC (IPIC), Aabar Investments PJS (Aabar), the Minister of Finance (Incorporated) Malaysia (MoF Inc.) and 1Malaysia Development Berhad (1MDB) are pleased to announce that an agreement has been reached between all parties that provides for a settlement in respect to the arbitration proceedings at the London Court of International Arbitration (the Settlement). The agreement is conditional on the Arbitration Tribunal making a consent award by 31 May 2017.

Under the terms of the Settlement, IPIC will receive an amount of US$602,725,000 by 31 July 2017 and a further amount of US$602,725,000 by 31 December 2017.

Separately, 1MDB and MoF Inc., undertake to IPIC to assume responsibility for all future interest and principal payments under the two bonds issued by 1MDB Group companies that are guaranteed by 1MDB and IPIC; (i) US$1,750,000,000 fixed rate 5.75 per cent. notes due 2022 issued by 1MDB Energy (Langat) Limited and (ii) US$1,750,000,000 fixed rate 5.99 per cent. notes due 2022 issued by 1MDB Energy Limited.

The parties have provided suitable undertakings and indemnities in respect of the performance of obligations under the Settlement.

The parties have also agreed to enter into good faith discussions in relation to payments made by 1MDB Group to certain entities.


Total kena bayar by 2017: 1.2 billionUSD (kira la sendiri dlm RM)

Tahun 2022: 1.75 billion lagi (tak termasuk riba kalah bank Yahudi 5.75 percent)
                           1.75 billion ( riba rate 5.99 percent)

Rakyat Malaysia selamat la dikeldaikan utk bayar segala mak nenek utk bayar Tok Arab IPIC  yg telah ditipu kerabat Jibby dengan kerjasama Jho Lo.

insulin

Adoi. Banyaknya kena bayar. Kasihan anak cucu cicit aku nanti.

taikor

ala... kementrian kewangan kan ade... boleh settle dgn duit rakyat... dengki ah diorang ni... ade pape, duit rakyat boleh kaver... orait

zeed

Wah wah wah.... cair la aset jibby n rosmah..apsal lak rakyat kena tanggung..

AbukRokok

knp boleh lupa lak
dah berhutang xpandai bayar ?

insulin

AbukRokok replied at 1-8-2017 10:05 PM
knp boleh lupa lak
dah berhutang xpandai bayar ?

Terlupa set reminder dekat smartphone.

xAthenax

Nak tunggu cai cai konar baring

finesse

Nanti ada forumer melenting kata x habis2 dgn isu 1mdb yang dipergunakan pembangkang...

bit

Adakah Jibby akan buat trip ke China lepas ni, gadai lagi harta selagi ada

Atifan

Dgn rkyat kena jual lps ni

OrenTheReturn

Bangsaatttt betullll dorgggg niiii! Najibbb kakk mahhh buat company ambik loan ujunggg2 bwh tanggongan negara! Anakk kat amerikaa hidopp kat sana dgn kawann jho low mcm orggg kayaaa rayaaa, dgnn concooo mewahhh, charityyy sana siniiiiii kononnnn, buatt filmmm bagaiiiii ujunggg2 negara kena tangggongggg, lps tu charge rakyatttt mcm2! Betulll2 negara korapppppp!

pembisikmaut

Take it easy...jika MoF xsanggup bayar...kami seluruh umat suci melay siap bersadaqah membantu imam suci ....

M5

suruh lobai hadi tolong bayarkan la