1MDB has refuted a Financial Times report suggesting that China would be involved in the company's multi-billion-dollar legal dispute. The chairman of 1MDB said that there is no discussion going on with China over the repayments to the International Petroleum Investment Company (IPIC).

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The Financial Times recently reported that Malaysian investment fund 1MDB was looking to make a repayment of its dues. The report suggested that the fund may ask for China's assistance to repay its obligation. It was speculated that 1MDB might swap assets for financing with China.

The investment fund is currently embroiled in a legal battle with Abu Dhabi's state-owned International Petroleum Investment Company, which is seeking nearly $6.5 billion from the Malaysian fund.

The dispute started earlier this year when 1MDB claimed to have fulfilled its dues while IPIC took the dispute to arbitration in London. There also had been allegations that Emirati officials were accomplices in siphoning off more than $1 billion from 1MDB.

Referring to the Financial Times report, 1MDB chairman Mohd Irwan Serigar Abdullah said, "I am the chairman of 1MDB, and as I know, there is no such thing as us talking to China about this." He made the statement while addressing a press conference at the Global Entrepreneurship Community 2016.

The dispute also involves a civil lawsuit filed by the US Justice Department which claims that more than $3.5 billion was misappropriated by 1MDB. The project was started in 2009 under the guidance of Malaysian prime minister Najib Razak.

China has refrained from getting involved in the case. However, China General Nuclear Power Corp bought 1MDB's power unit Edra Global Energy for RM$17 billion (HK$30 billion).

Tags1MDB, Mohd Irwan Serigar Abduallah, Najib Razak