Tanjong Energy plant in Telok Gong
PETALING JAYA: Tycoon T. Ananda Krishnan-linked Tanjong Plc has agreed to subscribe up to RM2bil worth of equity in Powertek Investment Holdings Sdn Bhd (PIH) – the power arm of 1Malaysia Development Bhd (1MDB).
In notes accompanying 1MDB’s financial accounts for the period ended March 31, 2013 viewed by StarBiz, it was stated that PIH had entered into a subscription agreement with Tanjong on May 17, 2012 for Tanjong to subscribe for equity in PIH “on the occurrence of certain events as set out in the agreement”.
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