KUALA LUMPUR: 1Malaysia Development Bhd (1MDB) has fully redeemed the balance of US$1.103bil (RM3.92bil) from its investment totalling US$2.318bil (RM8.24bil) in a Cayman Islands-registered fund, according to newly appointed president and group executive director Arul Kanda Kandasamy.
“1MDB hopes that the redemption of these funds, in full, draws a line under this matter. 1MDB can confirm that it has now redeemed the US$2.318bil invested by the company in a Cayman Islands-registered fund, following a commitment made by the chairman of the board of directors on Dec 23, 2014,” he said in a statement yesterday.
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