| 1Malaysia Development Bhd., the state investment fund known as 1MDB, agreed to buy a controlling stake in a coal-fired power plant, pushing its recent spending bill on energy assets to 12 billion ringgit ($3.8 billion).
The Kuala Lumpur-based sovereign wealth fund agreed to pay 1.2 billion ringgit for an effective 75 percent stake in the 1,400 megawatt Jimah coal-fired power in Malaysia’s Negeri Sembilan state, according to a statement posted on its website. This is 1MDB’s third such acquisition in 16 months as it builds a portfolio of Malaysian power assets from scratch...............................................Full Article: Source
|