Weaker ringgit might raise TNB's cost for 1MDB's power plant

TNB president and CEO Datuk Azman Mohd stressed that the takeover of Project 3B was not a bailout of 1MDB.

PETALING JAYA: The weaker ringgit might have increased the cost for Tenaga Nasional Bhd (TNB) to undertake Project 3B, a coal-fired power plant it is acquiring from 1Malaysia Development Bhd (1MDB), analysts said.

This could be the reason why the utility firm is seeking to raise up to RM10bil through an Islamic bond issue.