Malaysia

2023 - 2 - 26

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Image courtesy of "Yahoo Finance"

IPIC, Aabar Agree to Pay Malaysia $1.8 Billion in 1MDB Dispute (Yahoo Finance)

(Bloomberg) -- Malaysia's Minister of Finance (Incorporated) and 1MDB reached a $1.8 billion settlement with Abu Dhabi's sovereign wealth fund International ...

Malaysia says Abu Dhabi's IPIC and Aabar PJS to pay $1.8 billion to ... (Yahoo News)

Malaysia's finance ministry said on Monday Abu Dhabi's International Petroleum Investment Co (IPIC) and Aabar Investments PJS have agreed to pay $1.8 ...

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Image courtesy of "Financial Times"

Two Abu Dhabi state funds agree $1.8bn 1MDB settlement (Financial Times)

Agreement draws line under longstanding dispute launched five years ago by Malaysia.

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Image courtesy of "Malaysiakini"

IPIC, Aabar to pay Malaysia US$1.8 billion to settle 1MDB dispute (Malaysiakini)

Abu Dhabi's International Petroleum Investment Co (IPIC) and its unit Aabar Investments PJS have agreed to pay US$1.8 billion (RM8.06 billion) to settle a ...

The Finance Ministry said on Monday that the Abu Dhabi companies, 1MDB, and Malaysia’s Minister of Finance (Incorporated) had reached a settlement in respect of proceedings in the London Court of International Arbitration and the London High Court. Clifford Chance LLP, a London-based law firm for IPIC and Aabar, in a statement, said the firms had agreed to pay the settlement figure in three phases: US$800 million within seven days from the end of the London proceedings, and the remainder within two years of the termination. Malaysia in 2018 had filed a challenge in a London court against a settlement agreement between 1MDB and IPIC that had been negotiated a year earlier during the administration of former prime minister Najib Abdul Razak.

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Image courtesy of "Malay Mail"

Survey: Seven in 10 Malays in peninsular Malaysia dissatisfied with ... (Malay Mail)

KUALA LUMPUR, Feb 26 — About 71 per cent of Malay respondents in Peninsular Malaysia were dissatisfied with the new government's fulfilment of the 15th ...

He received 49 per cent of the votes. The survey also showed that overall, 25 per cent of respondents said they were satisfied with the government. In comparison, 41 per cent of Chinese respondents reportedly felt that the current state of the country was strong, along with 49 per cent of Indians, 43 per cent of Bumiputera in Sabah, 45 per cent of Bumiputera in Sarawak, and 39 per cent of other ethnicities.

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Image courtesy of "Minister for Foreign Affairs"

Visit to Malaysia and India (Minister for Foreign Affairs)

This week I will travel to Malaysia and India to advance Australia's bilateral relationships and promote Australia's interests in a peaceful, stable, ...

This will be my first visit to India as Foreign Minister, and I look forward to meeting my counterparts at the G20 Foreign Ministers’ Meeting in New Delhi. I look forward to holding introductory meetings with members of the new Malaysian Government, including the Prime Minister, Minister of Foreign Affairs and Minister of Economy. This week I will travel to Malaysia and India to advance Australia’s bilateral relationships and promote Australia’s interests in a peaceful, stable, and prosperous Indo-Pacific region.

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Image courtesy of "Reuters"

Abu Dhabi's IPIC and Aabar to pay Malaysia $1.8 bln to settle 1MDB ... (Reuters)

Abu Dhabi's International Petroleum Investment Co (IPIC) and its unit Aabar Investments PJS have agreed to pay $1.8 billion to settle a legal dispute over ...

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Image courtesy of "CNA"

Malaysia says Abu Dhabi's IPIC and Aabar to pay US$1.8 billion to ... (CNA)

KUALA LUMPUR: Abu Dhabi's International Petroleum Investment Co (IPIC) and its unit Aabar Investments PJS have agreed to pay US$1.8 billion to settle a ...

The finance ministry said on Monday the Abu Dhabi companies, 1MDB and Malaysia's Minister of Finance (Incorporated) had reached a settlement in respect of proceedings in the London Court of International Arbitration and the London High Court. "With this settlement, Malaysia and Abu Dhabi look forward to continue working together for the prosperity and economic benefit of both countries in the future," the ministry said in a statement. Malaysia in 2018 had filed a challenge in a London court against a settlement agreement between 1MDB and IPIC that had been negotiated a year earlier during the premiership of former leader Najib Razak.

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Image courtesy of "Malay Mail"

Finance Ministry: Abu Dhabi firms to pay US$1.8b to Malaysia to ... (Malay Mail)

KUALA LUMPUR, Feb 27 — The Malaysian government today announced that two Abu Dhabi companies have agreed to settle legal proceedings involving 1Malaysia ...

Malay Mail understands that the current Cabinet had asked Tengku Zafrul to continue negotiations and that he had closed the negotiations in his current role as international trade and industry minister, with the settlement finally reached after several rounds of meetings over the last two years. Tengku Zafrul, who had previously served as finance minister under the Muhyiddin and Ismail Sabri administration, was understood to have continued the talks under Prime Minister Datuk Seri Anwar Ibrahim's current administration. Malay Mail understands that Datuk Seri Tengku Zafrul Abdul Aziz played a key role in the negotiations on this long-standing dispute over the past two years.

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Image courtesy of "New Straits Times Online"

Australian FM on two-day working visit to Malaysia (New Straits Times Online)

PUTRAJAYA: Australia's Foreign Minister Penny Wong will undertake a two-day working visit to Malaysia beginning Monday to advance the bilateral relations ...

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Image courtesy of "Bloomberg"

IPIC, Aabar Agree to Pay Malaysia $1.8 Billion in 1MDB Dispute (Bloomberg)

Malaysia's Minister of Finance (Incorporated) and 1MDB reached a $1.8 billion settlement with Abu Dhabi's sovereign wealth fund International Petroleum ...

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Image courtesy of "The Business Times"

Malaysia's FGV optimistic US import ban will be lifted this year (The Business Times)

The world's largest crude palm oil producing company will upgrade housing facilities, compensate foreign workers who paid recruitment fees to secure jobs, ...

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Image courtesy of "CNA"

Malaysia's FGV posts smaller Q4 profits on higher operating costs (CNA)

KUALA LUMPUR : Malaysian palm oil planter FGV Holdings on Monday reported a smaller fourth quarter profit and said it will compensate its foreign workers ...

Such payments may result in debt bondage as worker pay off the debt, which has been identified by the ILO as an indicator of forced labour. Advertisement Customs and Border Protection (CBP) in 2020 due to allegations of forced labour in its plantations. The company has since recruited an audit firm to review labour conditions of its workforce, which is mostly comprised of migrants.

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