1MDB incurs cost of RM8mil for Project 3B

PETALING JAYA: The consortium of 1Malaysia Development Bhd (1MDB) and Mitsui Co Ltd of Japan had paid less than RM8mil to assemble and submit its bid for the highly sought after Project 3B and not US$100mil (RM325mil) as speculated by a business daily.

1MDB said that it was coming on record to reveal this information to put to rest “baseless insinuations” that it had overpaid to bag the power plant project. The amount, it stated, was also about half the sum other bidders had spent for that stage of the bid.