Deals
1MDB Said to Plan Malaysia Power Asset Buy for $548 Million
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1Malaysia Development Bhd., the state investment company also known as 1MDB, plans to buy the 1,400 megawatt coal-fired Jimah power plant for 1.7 billion ringgit ($548 million), said a person with knowledge of the matter.
The plant is located in Port Dickson, south of Kuala Lumpur. Malaysia’s Negri Sembilan royal family holds a 70 percent stake in Jimah Energy Ventures Holdings Sdn., which owns the power plant, the person said, asking not to be identified as the information is private. An official at 1MDB declined to comment on the potential purchase.