KUALA LUMPUR, May 10 – In the participating countries to take over Coal Energy Co. allegations 2,000 MW plant, also known as Project 3B from 1Malaysia Development Berhad (1MDB) is a strategic investment company owned by the Government of instability testimony. Former Batu Kawan UMNO vice-president, Datuk Seri Khairuddin Abu Hassan said the decision was not surprising 1MDB which could not cover up its own weaknesses, especially in the financial terms.
“I personally praise TNB from acquisitions to ensure the future of Malaysia’s continuous power supply. This is important, especially when TNB is the country’s power company. Problems will still exist, but where funds went, and 1MDB’s financial situation? In the past, Arul Kanda Kandasamy CEO said in a statement on behalf of 1MDB, 1MDB’s strong financial position, but what is happening now proves that the real problem and 1MDB debt is still no answer,” said Khairuddin.
Khairuddin was commenting on a report published in the daily states that TNB has taken over the greenplant project of 1MDB as a project that needed to get off the ground quickly. The report also highlights, 1MDB and business partners, Mitsui & Co Ltd has been granted RM11bil. through a controversial open the project in February, killing TNB, Malakoff Corp Bhd and YTL Power International.
The report also pointed out that the negotiations include TNB and Mitsui & Co., Ltd. among the root causes of the project has to start taken place. It is also discussed with the engineer from Toshiba company, IHI company Dan Hyundai Group, which was awarded the engineering project, Acquisition and Construction for the projects of the company.
TNB reportedly allocate up to RM500mil. to kick start a project, especially in 1MBD debt crisis has taken a few notches higher,to date, said the source. Khairuddin also stressed that the association knows 1MDB state finance power plant projects have been allocated.
“We want to know what had happened to the 1MDB funds and local funds, and now what is the Executive 3B project. “On this issue, Energy, Green Technology and Water (KeTTHA) section is guilty, and explained in the discussion approve for 1MDB to clinch the contract. “This means, KeTTHA with the Energy Commission of Malaysia was forced to use national funds, as well as Rakyat’s money to save 1MDB,” he explained.
Khairuddin said the Malaysian Anti-Corruption Commission (MACC) with the Royal Malaysian Police should be involved in the contract was awarded to detect the occurrence of the cause before direct negotiations. “There is expertise and proven track record of being rejected so many companies. What is the guarantee that the country intends to purchase the hole can return good profits?
“This contract is based entirely on the acquisition 1MBD terms. Financial audit, in order to win contracts 1MDB is based on its cash flow,” said Khairuddin, adding that TNB should be transparent to provide comprehensive explanation prospects for acquisitions. “TNB should give its guarantee, the acquisition will not burden future financial condition …… it is once bitten, twice shy if the statement has some of the truth of the situation.”