1MDB to shortlist preferred bidders on Bandar Malaysia project before end of 2015

1Malaysia Development Bhd (1MDB) expects to shortlist preferred bidders to participate as development partners in Bandar Malaysia project before the end of this week.

In a statement Monday, the company said it had received 12 bids as at Aug 28, 2015.

"1MDB remains focused on the implementation of its rationalisation plan and will issue further progress updates soon," it said.

1MDB said its board of directors and shareholders were fully and actively engaged in the company's rationalisation plan.

"This is evidenced by the shortlisting of four parties to the final bidding stage for the sale of our energy subsidiary, Edra," it said.

Meanwhile, 1MDB said while it regretted the departure advisor, Tan Sri Datuk Dr Abdul Samad Alias, the company respected his decision.

"We wish Samad all the best in his future endeavours," it said.