Tenaga Nasional Bhd
's (TNB) deteriorating cash position, arising from the gas shortage situation, has raised concerns over a possible impact on the RM26bil worth of bonds issued by the independent power producers (IPPs).
In the short term, there may not be much impact as the IPPs enjoy “iron-clad'' contracts with TNB. However, over the long term, there could be delays or other requests that could affect the payment stream to the IPPs.
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