Sale of Edra not sign of opening up power generation to foreigners

Ongkili: ‘We take note of the concern but the ministry will not make it a precedent. We will control it through licences or other mechanism so it will not affect national security.’ – Bernama

PETALING JAYA: The proposed sale of Edra Global Energy Bhd’s entire equity stake in its power generation plants to a China state owned entity will not translate into the liberalisation of the highly-regulated industry.

The RM9.83bil transaction announced yesterday was seen as a landmark deal because it marked for the first time power plants located in Malaysia being sold to a foreign company – which is China General Nuclear Power Corp (CGN Group).