Singapore

THE deal that was trumpeted as a mark of Malaysian tycoon Ananda Krishnan's corporate prowess when he unloaded his ageing power assets at a hefty price of RM8.5 billion (S$3.16 billion) to state-owned 1Malaysia Development Bhd (1MDB) three years ago appears to be causing him distress of late.

Mr Krishnan, Malaysia's second richest man who owns a sprawling empire of media, telecommunications, real estate and oil and gas businesses, is understood to have agreed to lend 1MDB as much as RM2 billion to settle the latter's debt obligation to Maybank and RHB Bank which falls due on Jan 31.