Tenaga makes indicative bid to acquire power assets of 1MDB

Tenaga Nasional Berhad (TNB) has submitted an indicative non-binding proposal to acquire five domestic and eight international power assets of 1Malaysia Development Berhad (1MDB)'s Edra.

TNB has emphasized that it remains in the initial stages of its assessment of Edra's power assets. A transaction would only go through following completion of TNB's in-depth due diligence on Edra's power assets.

As part of the rationalization plan announced by Malaysia's Ministry of Finance in May, 1MDB is actively pursuing various options with respect to the monetization of its power assets, which are all housed under Edra.

1MDB has also received indicative, non-binding offers from other local and international parties in relation to its power assets. The company's Board of Directors is currently reviewing the proposals.