MoF will continue to honour ‘outstanding financial commitments’

MoF will continue to honour ‘outstanding financial commitments’
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This article first appeared in The Edge Financial Daily, on April 19, 2016.

 

KUALA LUMPUR: The Ministry of Finance (MoF) reiterated yesterday that it would continue to honour all of its outstanding commitments in the financial markets.

This follows 1Malaysia Development Bhd’s (1MDB) statement yesterday that it would meet all of its obligations under “any other financing arrangements” and it has ample liquidity to do so, on the heels of its dispute with the Abu Dhabi-based fund International Petroleum Investment Co (IPIC) on certain debt obligations.

“The MoF of the government of Malaysia has been informed by its wholly-owned subsidiary 1MDB that it is in dispute with the International Petroleum Investment Co concerning, among other things, the obligations of 1MDB and IPIC in respect of certain publicly issued notes,” the statement read.

“The MoF wishes to make clear that it will continue to honour all of its outstanding commitments in the financial markets,” it added.