15.10.2015 - 1MDB Has a Lot Riding on Sale of Power Plants
The first major test of whether a Malaysian state investment fund can pay off its heavy debt load will come Friday when bids are due for a group of power plants the fund is trying to sell. But few potential buyers remain for the plants, including government-owned power producers in Malaysia and Qatar, as other possible buyers stepped back from the deal or weren't invited to bid in the final round, people familiar with the matter said. A smaller number of bidders could mean a lower price for the power plants. The sale is crucial for 1Malaysia Development Bhd., as it tries to dig out of its $11 billion debt hole. The fund paid roughly 12 billion ringgit ($2.85 billion) for the plants in 2012, and had valued them around $4 billion in a planned initial public offering earlier this year...............................................Full Article: Source