MoF scraps plan to sell Edra

PETALING JAYA: The Finance Ministry (MoF) has shelved plans for the potential sale of 1Malaysia Development Bhd (1MDB)-owned power firm Edra Global Energy Bhd, according to a statement issued by CIMB Group Holdings Bhd.

“We refer to last week’s announcement on CIMB’s appointment for the potential sale of Edra. MoF had informed CIMB that it had decided not to consider a sale of Edra to strategic investors, and as such, CIMB’s services as adviser to the potential sale are no longer required,” CIMB said in a two-paragraph statement yesterday.