No decision yet on 1MDB's Jimah East stake offer, says TNB

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KUALA LUMPUR (Dec 18): Tenaga Nasional Bhd has confirmed today that it has been offered to take up a 25% stake in 1Malaysia Development Bhd's (1MDB) Jimah East coal fired plant.

"We were offered some stake and we are doing due diligence," TNB's president and CEO Datuk Seri Azman Mohd told pressmen after the group's annual general meeting.

Management has yet to make a decision on whether to take up the stake as it needs to complete its due diligence process, he added.

However,  Azman was not able to reveal how long the process will take and when an annoucement will be made.

At end February this year, 1MDB won the RM11 billion 2,000MW coal-fired power plant project, which was known as 3B then, in a controversial open tender. 

Subsequently, The Edge weekly had reported, according to sources, that 1MDB had offered a stake in 3B to TNB.