首页 / Malaysia News / Malaysian state investor 1Malaysia Development Bhd (1MDB) took a big step toward…

Malaysian state investor 1Malaysia Development Bhd (1MDB) took a big step toward…

Malaysian state investor 1Malaysia Development Bhd (1MDB) took a big step towards a planned US$ 3 billion IPO for its power plant assets, filing a long-awaited application for a flotation that will reduce its huge debt burden, sources said.

The initial public offering (IPO) plans have been delayed several times, bankers have said, as the fund has had to restructure loans and as it bid – ultimately successfully – to build a new domestic coal-fired power plant.

A cross between a sovereign wealth fund and a private investment vehicle, the fund is chaired by Malaysian Prime Minister Najib Abdul Razak. But it has been dogged by controversy over the more than US$ 11 billion in debt it has racked up with its power plant purchases, its investment decisions as well as high fees paid to Goldman Sachs for handling its bond issues.

Full story: http://www.malaysiakini.com/news/280770

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