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61-70 results from 257 for query «mof»

June 14, 2016 10:47 AM 1MDB: Ipic, Aabar submit a request for arbitration

KUALA LUMPUR: Abu Dhabi’s International Petroleum Investment Company (Ipic) and Aabar Investments PJS have submitted a request for arbitration (RFA) to the London Court of International Arbitration, said 1Malaysia Development Bhd (1MDB). In a statement on Tuesday, the company said it and its legal counsel would review the RFA once it had been served 7

June 14, 2016 10:25 AM IPIC takes 1MDB dispute to London court, seeks USD6.5 billion

1MDB says in response that it would review the request for arbitration once it has been served with a copy. LONDON: Abu Dhabi’s state-owned International Petroleum Investment Co (IPIC) said on Tuesday it has asked a London court to arbitrate in a dispute with Malaysian state fund 1MDB in which IPIC is claiming about USD6.5 billion. The submission to the London 14

May 28, 2016 4:22 AM 1MDB money laundering case largest ever in S’pore

The Ministry of Finance (MoF) owned 1MDB is the subject of investigation in six countries, said prosecutors. KUALA LUMPUR: Prosecutors in Singapore said on Friday that a cross-border investigation involving 1MDB in six countries was the largest ever money-laundering case in the city state, according to a report by the Wall Street Journal (WSJ). The statement 13

May 25, 2016 10:38 AM 1MDB asset transfer to be completed by mid-June: Johari

KUALA LUMPUR: 1Malaysia Development Bhd (1MDB)’s asset transfer to the Ministry of Finance Incorporated (MoF Inc) will likely be completed by mid-June, says Deputy Finance Minister Datuk Johari Abdul Ghani. He said the company would thereafter become a shell company to manage liabilities and bonds it has issued. “The ministry has also decided that 1MDB is no longer 7

May 18, 2016 9:16 AM A-G’s Report: RM10.3mil paid for unused systems in Immigration project

PETALING JAYA: The Immigration Department settled a full payment of RM10.3mil for unused biometric systems and equipment in its implementation of the Malaysian Immigration System (myIMMs), the 2015 Auditor-General’s Report revealed. The National Audit Department found several weaknesses in the planning, implementation, and monitoring of the myIMMs project 11

May 12, 2016 3:44 AM Government stands firm on fiscal deficit target of 3.1% this year

KUALA LUMPUR: The government is maintaining Malaysia's fiscal deficit target of 3.1% this year amid the whole 1Malaysia Development Bhd (1MDB) issue. Commenting on Abu Dhabi's International Petroleum Investment Corp's (IPIC) written demand for 1MDB and Minister of Finance Inc (MOF), Malaysia to fully indemnify IPIC on payments after 1MDB's default, Deputy 6

May 11, 2016 10:59 AM IPIC pays interest after 1MDB's default once again

PETALING JAYA: Abu Dhabi’s sovereign wealth fund International Petroleum Investment Company (IPIC) yesterday paid US$52.41 million after 1Malaysia Development Bhd (1MDB) defaulted on the interest payment from a US$1.75 billion bond. The fixed rate 5.99% notes due 2022 is issued by 1MDB Energy Limited and guaranteed by 1MDB. "IPIC has made the interest 12

May 11, 2016 6:19 AM Bank Negara confident government will honour debt obligations

KUALA LUMPUR: Newly-appointed Bank Negara Malaysia Governor Muhammad Ibrahim said he is confident the government will honour all its commitment and debt obligations relating to the 1MDB issue. “I have no doubt the government will honour all its obligations that they have,” he told reporters after a keynote address on Global Islamic Finance Forum 5.0 here today 7

May 4, 2016 9:49 AM C4: Release Auditor-General’s Report on 1MDB

Center to Combat Corruption and Cronyism Executive Director Cynthia Gabriel says the report must be debated in Parliament for a review of failures of 1MDB. PETALING JAYA: The Ministry of Finance (MoF) cannot make conclusive recommendations without release of the Auditor-General’s Report on 1MDB, which is now still under the Official Secrets Act, says Center 10

May 4, 2016 9:39 AM MOF Inc confirms 1MDB board of directors' resignation

The Minister of Finance Incorporated (MOF Inc) has confirmed the acceptance of the resignation of 1MDB’s board of directors. As the 100 percent shareholder of 1MDB, MOF Inc said the resignation would come into effect on May 31. “MoF Inc will appoint new board members in due course, to reflect the limited business profile of 1MDB,” it said in a statement 23