KUALA LUMPUR (April 11): Abu Dhabi’s state-owned International Petroleum Investment Company (IPIC) and its subsidiary Aabar Investments PJS (Aabar) have denied any links to Aabar Investments PJS Limited (Aabar BVI) to whom 1Malaysia Development Bhd (1MDB) paid RM4.24 billion ($1.5 billion) in 2012.

“Both IPIC and Aabar confirm that Aabar BVI was not an entity within either corporate group. Furthermore, both IPIC and Aabar confirm that neither has received any payment from Aabar BVI, nor has IPIC or Aabar assumed any liabilities on behalf of Aabar BVI,” the two companies said in a statement to the London Stock Exchange.

The confirmation, they said, is reflected in each relevant accounting period by the audited financial statements of the IPIC Group.

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