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Malaysia's Malakoff says open to looking at 1MDB power assets

Friday, May 15, 2015 - 13:17
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Malakoff Corporation Bhd, Malaysia's largest independent power producer, will explore opportunities to buy power assets, including those from state development fund 1MDB, its chief executive said.

[KUALA LUMPUR]Malakoff Corporation Bhd, Malaysia's largest independent power producer, will explore opportunities to buy power assets, including those from state development fund 1MDB, its chief executive said.

Asked if Malakoff was interested in 1MDB assets, CEO Syed Faisal Albar told reporters: "Yes, we are interested to grow the business whichever way it is as long it fits our profile and desires. Good return - we will look at it." Malakoff and 1MDB are not currently in talks about potential deals, he added.

1MDB, long dogged by controversy over its US$11.8 billion debt and investment decisions, has been looking at a US$3 billion listing of its Edra Global Energy unit although this has been delayed several times.

Faisal Albar was speaking after Malakoff made a lukewarm debut on Malaysia's bourse on Friday.

REUTERS