1MDB may scrap energy IPO, opt for direct sale instead
Direct disposal deemed a swifter solution to overcome company's debt dilemma
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Singapore
TROUBLED 1Malaysia Development Bhd may call off the much bandied about and long-delayed initial public offering (IPO) of its energy assets and, instead, divest the entire portfolio of 16 power and desalination plants to tackle its hefty debt woes.
The Business Times understands that the stock offering of Edra Global Energy, 1MDB's energy arm, may not happen on concerns that it may not be well received by investors considering the controversy that has dogged its parent 1MDB.
