Why no punishment for tardy 1MDB-linked power providers, asks DAP


-A +A

DAP today questioned the Ministry of Energy, Green Technology and Water for not terminating contracts awarded to several independent power providers (IPPs) linked to debt-ridden 1Malaysia Development Berhad (1MDB), which failed to finance and deliver their concessions as promised.

Petaling Jaya Utara MP Tony Pua said the delays in power plant projects by 1MDB and Malakoff would eventually cost hundreds of millions of ringgit in losses that would impact all Malaysians.

Pua was referring to the parliamentary written reply he had received from the ministry, which said both companies had obtained financial support from financial institutions after proving their financial capabilities to undertake the projects.

"The response from the minister is highly unsatisfactory because both power plant projects are severely delayed and the eventual impact to Malaysians will run into hundreds of millions of ringgit," he said in a press conference at the Parliament lobby today. – March 25, 2015.