| 1MDB is facing the risk of default as Abu Dhabi-owned sovereign wealth fund International Petroleum Investment Company (IPIC) is no longer willing to service bond interest for the Malaysian fund, according to The Straits Times of Singapore.
1MDB has a US$50 million interest payment for its US$3.5 billion bond, which is due tomorrow. "Malaysian government officials, who spoke to The Straits Times on condition of anonymity, said IPIC has informally told 1MDB that it has no intention of honouring the interest payment because of the alleged default of the bond agreement...............................................Full Article: Source
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