You are here

Malaysia's 1MDB says welcomes Tenaga interest in its power assets

Wednesday, July 15, 2015 - 18:40
1mdb.jpg
Malaysia's state-fund 1MDB said on Wednesday that it welcomed Tenaga Nasional's interest in its power assets, adding that it had also received indicative and non-binding offers from other local and international parties.

[KUALA LUMPUR] Malaysia's state-fund 1MDB said on Wednesday that it welcomed Tenaga Nasional's interest in its power assets, adding that it had also received indicative and non-binding offers from other local and international parties.

Tenaga, Malaysia's national power firm, said earlier in the day that it had submitted an indicative non-binding proposal to acquire the five domestic and eight international power assets of 1MDB's power firm Edra Global. "Accordingly, 1MDB welcomes TNB's interest in Edra," 1MDB said in a statement.

The troubled state fund currently has a total of 14 power assets.

Reuters reported last month that 1MDB was planning to scrap its planned US$3 billion IPO of its power unit.

Set up in 2009, 1MDB has been criticised for raking up US$11.6 billion in debt while investing in power and real estate assets.

REUTERS