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
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.
Edra Global Energy Reportedly Seeks New Promoter For IPO
Apr 24 15
1Malaysia Development Berhad is seeking a new promoter for the listing for Edra Global Energy Bhd
Lender Banks Reportedly Not Happy With Terms Of Edra's Listing
Apr 8 15
1Malaysia Development Berhad's (1MDB) plan to list Edra Global Energy Bhd is reportedly facing some issues as some of the local banks are not happy about being asked to waive their right to the listing proceeds. As per the sources, 1MDB would require the consent of Malayan Banking Berhad (KLSE:MAYBANK), RHB Capital Berhad (KLSE:RHBCAP), Alliance Investment Bank Berhad, Malaysia Building Society Bhd (KLSE:MBSB) and HwangDBS Investment Bank Berhad to go ahead with the listing procedures.
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