1Malaysia Development Berhad (1MDB) will not be able to meet the deadline to commence the 3B power plant that was awarded to them because it is having cash flow problems to finance the project, the Energy, Green Technology and Water Ministry has admitted.
The ministry, in a written reply recently, said that 1MDB is having problems to find funding for the Jimah East Power project at Mukim Jimah, Port Dickson.
However, the government said that 1MDB is not letting go of the project but is instead trying to become a “lead player” in a consortium to commence the project.
Full story: http://www.malaysiakini.com/news/293133
'1MDB facing money woes to start IPP project'
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Ministry says the firm is trying to become a ‘lead player’ in a consortium.
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