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
1MDB Appoints Tan Sri Dr. Abdul Samad Alias as Member of Board of Advisors
Jan 21 15
1MDB announced that it has appointed Tan Sri Dr. Abdul Samad Alias, chairman of Perbadanan Insurans Deposit Malaysia (PIDM), to the company's Board of Advisors. Abdul Samad has been the chairman of PIDM since Aug. 15, 2011.
Ananda Krishnan Reportedly In Talks To Acquire Stake In 1MDB's Power Assets
Jan 15 15
Ananda Krishnan is in discussion 1Malaysia Development Berhad (1MDB) regarding becoming a cornerstone investor in the $3 billion listing of its power assets, two people familiar with the matter said. Ananda Krishnan is considering acquiring at least a 5% stake in 1MDB's energy business, one of the people said. The IPO is expected in the second quarter of 2015, one person involved in the deal said. "Both parties (Krishnan and 1MDB) are now working on the terms," said one of the sources.
1Malaysia Mulls To Sell Its power plants
Jan 8 15
1Malaysia Development Berhad is planning to sell its power plants. Former Gulf-based banker Arul Kanda also began work this week knowing success or failure could affect the man who chairs the fund's advisory board, Prime Minister Najib Razak. With Najib at the helm, 1MDB's expensive acquisitions of power plants it now wants to sell have left it servicing growing debt costs that have squeezed it into the red. 1MDB's plans to spin off power plants assets in an initial public offering worth about $3 billion, possibly Southeast Asia's fifth-biggest IPO ever, according to Thomson Reuters data.
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