18 Oct '15, 3pm

Malaysia’s 1MDB Gets Bids for Power Assets - by P.R Venkat (WSJ)

By P. R. VENKAT Wall Street Journal Oct. 17, 2015 Malaysia’s government investment fund has received three bids from domestic and international companies to buy its power assets, as the embattled state-run firm tries to dig itself out from its US$11 billion debt load. In a statement late Friday, 1Malaysia Development Bhd., or 1MDB, said that it had received “binding and fully funded offers from three strategic investors.” 1MDB didn’t mention the names of the bidders for the assets, which are owned by a unit called Edra Global Energy Bhd. Only one of the bidders publicly said it made an offer for the power assets. That bidder, another state-run power company called Tenaga Nasional Bhd., which is 30% owned by Malaysia’s sovereign-wealth fund Khazanah Nasional Bhd., said Friday that it had submitted a conditional offer. Tenaga didn’t say what it bid for the assets, but added ...

Full article: http://blog.limkitsiang.com/2015/10/18/malaysias-1mdb-get...

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