The settlement between 1MDB and International Petroleum Investment Corporation (IPIC) shows that 1MDB funds did not end up in Prime Minsiter Najib Abdul Razak's pockets, said Minister in the Prime Minister's Department Abdul Rahman Dahlan.

He said this is because the settlement shows 1MDB's funds held in "units" in Singapore exist and will be entirely monetised to pay IPIC.

"This not only proves that, contrary to the oppositions lies, the funds have existed all this while. But it also slams the door shut on their wild allegation that these funds were somehow transferred to the prime minister’s accounts – an allegation that had previously been rejected by no less than the Saudi Foreign Minister who publicly stated that these funds were a donation from the Saudi royal family," the Barisan Nasional strategic communications director said in a statement...