HomeWorld RegionsAsiaTenaga may defer sale of stake in power plant, report says

Tenaga may defer sale of stake in power plant, report says

Kuala Lumpur, Dec. 4 (Bloomberg) à‚– Tenaga Nasional Bhd., Malaysia’s biggest power utility, may defer plans to sell 40 percent of its fourth biggest power plant, The Edge weekly magazine reported, citing unnamed sources.

State-controlled Tenaga told the bidders vying for a stake in the power plant in southern Johor state that it will decide on the sale in the first quarter of next year, the report said.

The move comes as Tenaga’s new chairman Jamaludin Jarjis reviews several of the key policies introduced by his predecessor Ahmad Tajuddin Ali, the report said.

Tenaga had planned to sell its power plants to focus more on transmission and distribution as competition in the generation business increases.

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