TNB to know outcome of bid for 1MDB's power assets this month

KUALA LUMPUR: Tenaga Nasional Bhd (TNB) will know the results of its bid for 1Malaysia Development Bhd’s (1MDB) power assets by the middle of this month, according to its chief executive officer Datuk Seri Azman Mohd.

The utility giant had in the middle of July submitted a proposal to buy 1MDB power assets locally and abroad through an indicative non-binding proposal that will involve the acquisition of five domestic and eight international power assets held through 1MDB’s power unit, Edra Global Energy Bhd.