Company Overview of 1Malaysia Development Berhad
1Malaysia Development Berhad operates as a strategic development company. The company identifies new ideas and sources of growth to propel economic transformation in Malaysia. It focuses on creating new sources of growth in various sectors, including energy, real estate, tourism, and agribusiness. 1Malaysia Development Berhad was formerly known as Terengganu Investment Authority Bhd. and changed its name in January 2009. The company was founded in 2008 and is based in Kuala Lumpur, Malaysia.
No 8 Jalan Sultan Ismail
Kuala Lumpur, 50250
Founded in 2008
Key Executives for 1Malaysia Development Berhad
President and Group Executive Director
Deputy Chief Executive Officer
Director of Corporate Finance
Chief Human Resource Officer
Compensation as of Fiscal Year 2014.
1Malaysia Development Berhad Key Developments
TNB In Talks To Acquire Project 3B From 1Malaysia Development
May 12 15
Tenaga Nasional Berhad (KLSE:TENAGA) is in talks to acquire stake in 2,000 megawatt coal-fired power plant, known as Project 3B from 1Malaysia Development Berhad. Datuk Seri Azman Mohd., Chief Executive Officer of Tenaga Nasional Berhad states, "We will not pay a premium for the project. We will just pay them (1MDB) for costs incurred. If anything, we will ask for a discount. They (1MDB) are not in a position to dictate the terms, If we take over Project 3B it has to be self-sufficient."
IJM Reportedly To Bid For Edra Global Energy
May 2 15
IJM Corporation Berhad (KLSE:IJM) is considering buying Edra Global Energy Bhd from 1Malaysia Development Berhad (1MDB), financial weekly The Edge Malaysia reported, citing industry sources. IJM unofficially expressed interest in acquiring the power assets, the report said. IJM officials were not immediately available to comment.
Buyers Being Reportedly Sought For Edra Global
Apr 27 15
The Ministry of Finance (MoF) seems to be having two minds on the sale of Edra Global Energy Bhd. It has been rumored top executives of 1Malaysia Development Berhad are on the lookout to sell the power assets. According to sources, President and Group Executive Director Arul Kanda Kandasamy has been actively scouting for a local buyer for the power assets housed under Edra Global and has met with top management of Tenaga Nasional Berhad (KLSE:TENAGA) to discuss its possible acquisition of the company. It is known that Tenaga Nasional was given the option to either buy out Edra Global’ s power assets, including those abroad, or take a strategic equity stake in the company. Tenaga Nasional is yet to give the offer serious thought, sources said. The Edge Financial Daily reported that a Middle Eastern consortium is interested in acquiring Edra Global’s power assets.
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