Article Related To Edra Global Energy

This debt repayment and overall debt reduction is a tangible result of 1MDBs successful rationalisation plan.

1MDB has completed the asset monetisation of Edra Global Energy Bhd, with the exchange of shares for cash with a related party.

The Finance Ministry said this was achieved following the share sale and purchase agreement signed with CGN for the sale of 1MDB's 100 per cent ownership in Edra's energy assets on Nov 23 this year.

1Malaysia Development Bhd (1MDB) clarified the allegations made by former prime minister Tun Dr Mahathir Mohamad regarding the sale of Edra Global Energy Berhad.

1MDB's energy arm, Edra Global Energy Bhd, is disposing of all its assets to China General Nuclear Power Corp and its units for RM9.83 billion.

The 4B project is the development of a new 2,000MW to 2,400MW combined cycle power plant in Alor Gajah, Malacca.

The strategic investment company was in the process of negotiating the sale and purchase agreement (SPA) with the three final bidders for Edra Global Energy.

Substantial action undertaken by 1Malaysia Development Berhad (1MDB) will reduce its debts as well as ensuring its sustainability in the long run.

Deloitte is auditing 1Malaysia Development Bhd's (1MDB) financial accounts in stages, beginning with Edra Global Energy Bhd (Edra), an energy asset company owned by 1MDB, the Dewan Rakyat was told.

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