KUALA LUMPUR: 1Malaysia Development Berhad (1MDB) said in a statement on Monday that it has agreed to the Request for Arbitration (RFA) filed by International Petroleum Investment Company (IPIC) and Aabar Investments PJS (Aabar).

The company expressed confidence in its legal position after having submitted “a formal and robust response to the RFA” through its legal counsel, Weil Gotshal & Manges (Weil Gotshal), reportedly a specialist in international litigation.

1MDB reiterated, notwithstanding the dispute with IPIC, that it will continue to implement the rationalisation plan and remains able to honour its current debt obligations.

Last month, 1MDB paid RM1.579 million interest coupon on the RM2.4 billion Bandar Malaysia sukuk due in 2024.

In May, 1MDB made a scheduled coupon payment amounting to RM143.75 million on its RM5 billion 5.75 per cent Islamic Medium Term Notes due 2039.