Catalysis of the reaction: 2-methyl-3-oxopropanoate + CoA + NAD+ = propanoyl-CoA + CO2 + NADH + H+. Can also use malonate (3-oxopropanoate) as a substrate. The reaction occurs in two steps with the decarboxylation process preceding CoA-binding. Bicarbonate rather than CO2 is released as a final product.
Source:PMID:2768248,
EC:1.2.1.27
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for methylmalonate-semialdehyde dehydrogenase (acylating, NAD) activity (excluding "regulates").