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Tenaga plans RM10b sukuk to fund power plant

Planned purchase of 1MDB's 70% stake in 3B, a greenfield 2,000 MW coal-fired plant, will take the pressure off 1MDB

Kuala Lumpur

MALAYSIA's Tenaga Nasional Bhd is seeking to raise as much as RM10 billion (S$3.6 billion) in an Islamic bond issue to develop a power plant project that it is planning to take over from debt-laden state fund 1MDB, sources familiar with the matter said.

The bond by