PETALING JAYA: The independent power producers (IPPs) face a possible downgrade of their bonds with the Windfall Profit Levy (Electricity) Order 2008, which came into effect on July 1.
According to a statement issued by Penjanabebas president Dr Philip Tan yesterday, the value of ringgit bonds and notes issued by IPPs was estimated to be about RM20bil in 2006, making them the largest issuers of Islamic bonds in the country. Penjanabebas is the association for IPPs in Malaysia.
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