Malaysia's Tenaga submits conditional offer to buy 1MDB's power unit

October 16, 2015 11:44 AM

24 0

KUALA LUMPUR Oct 16 Tenaga Nasional Bhd , Malaysia's national power firm, said on Friday it has submitted a conditional offer to buy the power assets of troubled state fund 1MDB's power firm Edra Global Energy.

1MDB, or 1Malaysia Development Bhd, has been the subject of multiple investigations amid allegations of financial mismanagement and graft - a political crisis for Prime Minister Najib Razak who chairs its advisory board.

Also read: Saudi Arabia offers first global bonds in economic overhaul

Read more

To category page