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NewsMinistry of Finance appoints CIMB as adviser for sale of Edra
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Ministry of Finance appoints CIMB as adviser for sale of Edra
by Cals Fri 27 Mar 2015, 01:26
Ministry of Finance appoints CIMB as adviser for sale of Edra
By Ahmad Naqib Idris / theedgemarkets.com | March 26, 2015 : 5:08 PM MYT
KUALA LUMPUR (Mar 26): Financial services provider [size=14]CIMB Group Holdings Bhd ([You must be registered and logged in to see this image.] Financial Dashboard) announced that it had been appointed as adviser to the Ministry of Finance (MoF) for the purpose of finding strategic investors for the potential sale of 1Malaysia Development Bhd’s (1MDB) energy arm, Edra Global Energy Bhd.
“CIMB's role will include identifying potential buyers and running a competitive process for Edra to derive an optimal outcome for MoF,” the bank said in a statement today.
However, CIMB (fundamental: 1.05; valuation: 1.5) said its appointment does not extend to any other areas relating to the controversial state wealth fund.
CIMB closed 1 sen or 0.17% higher at RM6.19, bringing its market capitalisation to RM52.06 billion.
(Note: The Edge Research's fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)
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By Ahmad Naqib Idris / theedgemarkets.com | March 26, 2015 : 5:08 PM MYT
KUALA LUMPUR (Mar 26): Financial services provider [size=14]CIMB Group Holdings Bhd ([You must be registered and logged in to see this image.] Financial Dashboard) announced that it had been appointed as adviser to the Ministry of Finance (MoF) for the purpose of finding strategic investors for the potential sale of 1Malaysia Development Bhd’s (1MDB) energy arm, Edra Global Energy Bhd.
“CIMB's role will include identifying potential buyers and running a competitive process for Edra to derive an optimal outcome for MoF,” the bank said in a statement today.
However, CIMB (fundamental: 1.05; valuation: 1.5) said its appointment does not extend to any other areas relating to the controversial state wealth fund.
CIMB closed 1 sen or 0.17% higher at RM6.19, bringing its market capitalisation to RM52.06 billion.
(Note: The Edge Research's fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)
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