You are here

PREMIUM

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...

BT is now on Telegram!

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