TNB to purchase 13 more of 1MDB power plants

TNB has submitted an indicative no bidding proposal for 1MDB’s power asset both locally and globally through its subsidiary Edra Global Energy Bhd. These assets include 5 local and 8 international plants. The move is followed by recent acquisition of 70% stake of Jimah East power plant by 1MDB.

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1MDB denies falsifying financial statements

PETALING JAYA: The 1Malaysia Development Board (1MDB) has issued a statement denied falsifying financial statements that was submitted to banks. In the statement 1MDB also regretted the allegations by Opposition Lawmaker Tony Pua quoting that the action could cause a default. 1MDB has questioned on how Pua could allege the audited account was tampered since it’s company internal dealing. 1MDB also noted that the confidentiality of financial agreements cited by Tony Pua were protected by law.

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