Billionaire Ananda Krishnan in talks to invest in 1MDB power asset listing

Amid a management reshuffle, 1MDB missed a payment on RM2bil bridge loan that was due end-December to local lenders. That hit its bonds and fuelled broader investor concerns about Malaysia

KUALA LUMPUR: Malaysia’s second richest man, Ananda Krishnan, is in talks with state firm 1MDB to become a cornerstone investor in a long-delayed, US$3bil (RM10.68bil) listing of its power assets, two people familiar with the matter said on Thursday.

The reclusive billionaire, who owns holdings in many of Malaysia’s biggest listed firms, was considering taking at least a 5% stake in 1MDB’s energy business, one of the people said. The people didn’t disclose how much Ananda’s stake would be worth since talks on the matter are continuing.