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KUALA LUMPUR, Sept 8, 2015:

Staretegic investment firm 1Malaysia Development Bhd (1MDB) yesterday said it has shortlisted four parties for the final bidding stage in the sale of its power unit, Edra Global Energy Bhd.

It did not identify the bidders.

People familiar with the matter have previously said the sale had drawn at least half a dozen suitors from Malaysia to the Middle East, include Malaysia’s national utility Tenaga Nasional Bhd and independent power firm YTL Power International Bhd.

1MDB is the largest independent power producer in Bangladesh and Egypt and the second biggest in Malaysia after Malakoff Corp Bhd. It also holds assets in the United Arab Emirates and Pakistan through joint ventures.

The fund, whose advisory board is chaired by Prime Minister Datuk Seri Najib Razak, also expects to shortlist preferred bidders for its Bandar Malaysia property project before the end of this week, it said in a statement.

“1MDB remains focused on implementation of its rationalisation plan and will issue further progress updates in due course.”

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