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In 1MDB-TNB asset 'ping-pong', M'sians will be forced to pay Higher Tariffs

2015-07-04 10:09:29| Oil & Gas - Topix.net

TNB said in a Bursa Malaysia announcement yesterday that it has entered into a Share Sale and Purchase Agreement with 1Malaysia Development Berhad for the acquisition of a 70% shareholding in Jimah East Power Sdn Bhd for a total consideration of circa RM46.98 million. Jimah East Power was incorporated by 1MDB and Mitsui and Co Ltd on July 5, 2013, as the special-purpose vehicle company for the development of two 1000MW coal fired power plants in Mukim Jimah.

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