One obstacle too many for Malakoff

A LOT can happen in three years. Tenaga Nasional Bhd has seen a change of guard three times. Malakoff Bhd has a seen a new “face” in control of the company and has managed to complete a 640 megawatt (mw) gas-fired plant in Segari, Perak. The landscape in the power sector has changed drastically during this time and the economic wind driving the industry is not quite as robust as it used to be. 

So, it can be forgiven if investors find it trifle confusing that one thing has been stuck in status quo all this time – the incompletion of Malakoff’s purchase of 40 per cent interest in Kapar Energy Ventures from the national utility signed way back in mid 2000.