<div class=newsTextDataWrapInner><p>SINGAPORE (Sept 28): Sembcorp Industries will be developing a US$390 million ($556 million) power plant in Sirajganj district of Bangladesh, marking its entry into the South Asian country.</p></div>

<div class=newsTextDataWrapInner><p>The project, awarded by the government of Bangladesh, is slated for completion in 2018. Sembcorp is the first foreign investor in the country’s power sector.</p></div>

<div class=newsTextDataWrapInner><p>The 426-megawatt power plant will be fuelled primarily by natural gas, with high-speed diesel as back-up fuel. The plant will supply power to the grid under a 22.5-year power purchase agreement with the Bangladesh Power Development Board. The government plans to add about 10 gigawatts of capacity over the next decade.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>Sembcorp will own a 71% stake in the project, while North-West Power Generation Company, a subsidiary under Bangladesh Power Development Board, holds the remainder.</p></div>

<div class=newsTextDataWrapInner><p>It plans to finance the project through a mix of limited recourse project financing and equity. Lenders would include multilateral agencies and banks. Its equity investment will amount to US$68 million, via internal funds and borrowings.</p></div>

<div class=newsTextDataWrapInner><p>Sembcorp closed at $3.43, down 2.8%.</p></div>


SINGAPORE (Sept 28): Sembcorp Industries will be developing a US$390 million ($556 million) power plant in Sirajganj district of Bangladesh, marking its entry into the South Asian country.

The project, awarded by the government of Bangladesh, is slated for completion in 2018. Sembcorp i...

Sembcorp makes foray into Bangladesh with power project

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Hollywood superstar and acclaimed Malaysian actress Tan Sri Michelle Yeoh has received the prestigious Presidential Medal of Freedom from US President Joe Biden on Friday.

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Electric vehicle (EV) maker Zeekr Intelligent Technology Holding said on Friday it was targeting a valuation of up to US$5.13 billion (RM24.32 billion) in its US initial public offering (IPO), the first major floatation of a China-based company in more than two years.

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<p>Retail sales typically slow in the second quarter of the year as consumers take a breather from spending after the festivities in the first quarter. As such, when retailers say their sales fell short of expectations during the two major festive periods so far this year, it is time to pay attention.</p>


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<p>Hollywood superstar and acclaimed Malaysian actress Tan Sri Michelle Yeoh has received the prestigious Presidential Medal of Freedom from US President Joe Biden on Friday.</p>


<p>King Charles and other senior British royals are to relinquish patronages of almost 200 charities and organisations after a review of their association with more than 1,000 groups, Buckingham Palace said on Saturday.</p>


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<p>A training aircraft crashed in the Besout 2 Tambahan plantation area in Sungkai on Saturday.</p>


<p>The Kuala Kubu Baharu (KKB) by-election campaign is entering a critical period for all contesting parties and candidates to redouble their efforts to win as many votes as possible.</p>


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<p>Indonesia will permanently relocate some 10,000 people living on an island in North Sulawesi following concerns that more eruptions could come from an active volcano that has already caused damages.</p>


<p>The Philippines central bank will require financial institutions to submit a report within 24 hours of discovering risks linked to money laundering and terrorist financing, as the Southeast Asian nation steps up its fight against illicit transactions.</p>


<p>Construction work on the East Coast Rail Link (ECRL) project in Kelantan, Terengganu, Pahang and Selangor has reached an average of 65% as of April, said Transport Minister Anthony Loke.</p>


<p>This year marks the 30th anniversary of the United Nations’ International Year of the Family (IYF). In the decades since the IYF was proclaimed, demographic shifts, technological transformations, migration, urbanization, and climate change have upended societies around the world. Responding effec...

<p>Malaysia's latest position in the Press Freedom Index is still considered good compared to the previous government, said Communications Minister Fahmi Fadzil.</p>


<p>The government is currently studying the proposal from marine robotics company Ocean Infinity to resume the search for Malaysia Airlines Flight MH370, which went missing while en route to Beijing 10 years ago.</p>
