Newsclip®: [Business] Abu Dhabi fund demands compensation after 1MDB defaults on third payment | TODAYonline

"KUALA LUMPUR — Abu Dhabi’s state-owned International Petroleum Investment Co (IPIC) said yesterday that it had paid interest of US$52.4 million (S$71.8 million) due on bonds guaranteed by troubled Malaysian state fund 1MDB, after 1MDB defaulted on them. IPIC said this marked a third default by 1MDB, adding that it would step up its demands for 1MDB and the Malaysian government to compensate IPIC for its exposure to 1MDB; it said it was now owed US$1.2 billion plus accrued interest.",

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