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1MDB sells off energy assets to China firm for RM9.83b

The assets come under Edra Global, which had to abort its listing bid in Malaysia
Tuesday, November 24, 2015 - 05:50

A man walks past a 1 Malaysia Development Berhad (1MDB) billboard at the funds flagship Tun Razak Exchange development in Kuala Lumpur, in this Mar 1, 2015 file photo.

Kuala Lumpur

MALAYSIA'S beleaguered 1MDB has sold its energy assets under Edra Global Energy Bhd to China General Nuclear Power Corporation (CGN) and its subsidiaries for RM9.83 billion (S$3.24 billion) in cash, in the first of a three-step asset-sale strategy to pare its estimated RM42-

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