The Business Times

International

The Business Times
Subscribe
Share on FacebookShare on TwitterView more
The Business Times
Create a free account with Business Times for seamless access across SPH Media products.
REGISTER
LOGIN

International

Malaysia's Tenaga Nasional to take over 1MDB's stake in Project 3B

Published Thu, Jun 18, 2015 · 08:51 AM
Share this article.

[KUALA LUMPUR] Malaysia's debt-laden state fund 1MDB will sell its entire 70 per cent stake in Project 3B, a US$3.6 billion greenfield 2,000 megawatt coal-fired plant, to national utility Tenaga Nasional Bhd, a Malaysian minister said on Thursday.

1MBD, whose board of advisers is chaired by Prime Minister Najib Razak, is in the process of paring down nearly 42 billion ringgit (US$11.31 billion) in debt that has weighed on the ringgit and Malaysia's credit rating.

REUTERS

READ MORE:

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to  t.me/BizTimes

International

SUPPORT SOUTH-EAST ASIA'S LEADING FINANCIAL DAILY

Get the latest coverage and full access to all BT premium content.

SUBSCRIBE NOW

Browse corporate subscription here