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© Reuters. FILE PHOTO: Motorists passed an advertisement for 1Malaysia Development Berhad (1MDB) during the Tun Razak Exchange development in Kuala Lumpur (Malaysia) on February 3, 2016. REUTERS / Olivia Harris / Photo File
KUALA LUMPUR (Reuters) – Malaysia said on Friday that the banking group AMMB Holdings Berhad (AmBank) had received the first payment of 1.8 billion ringgit ($ 432.38 billion) as part of a deal linked to a statewide billion dollar scandal. 1Malaysia Development Berhad (1MDB).
The remaining payment of 1.03 billion ringgit will be settled in December 2021 and July 2022, the Finance Ministry said in a statement.
AmBank said in February that it would pay the government 2.83 billion ringgit ($ 699 million) to settle 1MDB-related claims, which is expected to have a material impact on the group’s profits.
($ 1 = 4,1630 ringgit)
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