1MDB has missed the noon deadline for its first payment of RM2.58 billion to International Petroleum Investment Co (IPIC) over their settlement agreement.

The payment was due at midnight, New York-time on July 31, which is noon today Malaysian time.

In a statement later, 1MDB conceded it has yet to make the first payment, adding that it has written to IPIC to reassure them of its commitment to meet their obligations.

"All payments due from 1MDB to IPIC will be made from the proceeds of the 1MDB rationalisation plan.

"1MDB itself is awaiting funds that were due to be received in July 2017.

"Due to the need for additional regulatory approvals, the receipt of those funds has been delayed to Aug 2017," it said.

Earlier today, The Edge Markets reported that it was unclear if there are clauses in the settlement agreement that allowed for extensions.

For now, IPIC, which is listed on the London Stock Exchange, has not issued a statement on the supposed missed deadline.

Similarly, the Malaysian government has also yet to disclose any information about the payments.

This payment is the first of two expected from 1MDB to IPIC. The second transaction of equal amount is due by Dec 31 this year.

The total amount 1MDB will be paying IPIC is US$1.205 billion (RM5.16 billion) as part of the settlement agreement.