20.02.2015 - Malaysia’s 1MDB Says May Sell Land Assets, Equity in Projects
Malaysia’s 1MDB said it may sell assets and its real estate projects will sell land development rights and could enter into profit-sharing joint ventures, as the state fund seeks to cut down on its massive debt burden. Announcing the completion of a strategic review that begun last month, the fund also said it will meet maturing debt by refinancing from “best available sources” or repay it through the sale of land development rights. 1MDB has racked up debt of 41.9 billion ringgit ($11.6 billion) in a major spending spree to build up a portfolio of power plants. It confirmed that it plans to list its power assets this year. 1MDB’s debt woes have weighed on the ringgit in recent months. The ringgit was up 0.2 percent against the dollar after the announcement...............................................Full Article: Source
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