KUALA LUMPUR (April 20): Malaysia and Abu Dhabi have agreed to settle a dispute involving billions of dollars between 1Malaysia Development Berhad (1MDB) and Abu Dhabi’s International Petroleum Investment Company, or IPIC, Singapore's The Straits Times said in an exclusive report.

The Straits Times reported senior financial executives as saying that the state-owned investment funds from both countries could sign an agreement as early as tomorrow.

The main component of the settlement is reported to be for Malaysia to repay Abu Dhabi US$1.2 billion (RM5.28 billion) by the end of 2017. This amount represents a loan and accumulated interest charges on a bailout package that Ipic handed to 1MDB in July 2015.

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