KUALA LUMPUR (Oct 16): 1Malaysia Development Bhd (1MDB) said it has received a final, binding and fully funded offers from three strategic investors, comprising both domestic and international parties, for the power generation assets of its power arm Edra Global Energy Bhd today.

1MDB said it expects to enter into a definitive agreement with the chosen party, shortly after the evaluation and negotiation process has been completed, before the end of 2015.

"Over the next few weeks, 1MDB will be conducting an evaluation of the offers received, including reviewing the terms and conditions of the definitive agreements that the parties have proposed, and seek clarification where required," the company said in a statement today.

"We shall continue to make appropriate disclosures, as and when there are further developments.

"As previously highlighted, our board of directors will be guided by, among others, value maximisation to 1MDB’s shareholder, deal certainty and terms that are fair and reasonable in assessing these offers," it added.

In a separate statement today, Tenaga Nasional Bhd (TNB) said it has submitted a conditional offer to acquire Edra's power generation assets from 1MDB. The conditional offer is still subject to TNB finalising the confirmatory due diligence process, as well as finalising and executing the share purchase agreement.

Yesterday (Oct 15), Minister in the Prime Minister's Department Abdul Wahid Omar was reported as saying the issues related to 1MDB will be resolved by year-end.

He added that the government had recently taken proactive measures, such as selling some of 1MDB's assets and using the proceeds to pay and reduce the debt level.