KUALA LUMPUR: National utility firm Tenaga Nasional Bhd
(TNB) defended a move to buy 1MDB's entire stake in a planned 2,000 MW coal-fired power project, saying it was "not a bailout" of the debt-laden state fund.
"Based on financial analysis, the project is expected to have a positive impact on the earnings of TNB. It is not a bailout of 1MDB," TNB Chief Executive Officer Azman Mohd said in a press statement.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
