(MENAFN) According to state news agency Bernama, Malaysia's Prime Minister said that his country and Qatar have expressed an interest in the assets of debt- laddered state fund 1Malasysia Bhd (1MDB).
1MDB, the center of several investigations over graft and its management of funds, is seeking to offload assets parked under its power unit Edra Global Energy Bhd, and sell developmental rights in its property projects.
The fund, whose advisory board is chaired by the minister, is looking to trim down USD11 billion of debt. It has 14 power assets which could be worth up to USD4.73 billion, sources said in June.
"We have a program to reduce the debts of 1MDB, and the program is viable. We have to give it time. I would say we need about six months," the Malaysian Prime Minister was quoted as saying.
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