Evidence wanted, 1MDB

Malaysiakini clip via Unspinners' "Tun M ngaku bukti tak cukup untuk laporan polis, dakwa 1MDB"

"I don't have enough evidence." - Dr Mahathir Mohamad, when asked why he's not lodging a police report against PM Najib Razak "not even after what he's done".  (in my days, reporters would insert the word "allegedly" somewhere in that sentence!). A kurang asamreporter would have asked: Not enough evidence or no evidence, Sir? But he/she would be without a job the very next day.

But there's all the evidence that while we try to tear apart the 1MDB in the hope that it will help us bring Najib down, the interest in 1MDB's assets remain keen even if it's a bit cautious. It's two foreign investors vs a lone local hopeful.

The full story H E R E 

Meanwhile TNB’s president and chief executive officer Datuk Seri Azman Mohd said: 

“As the sole off-taker of all power generated in Malaysia, TNB is the best and most logical buyer for these assets. The acquisition of these power facilities, which will add a significant contribution to our power generation capacity in Malaysia, will be an important addition to our business as it will further enhance TNB’s earnings and cash flows. Broadening our domestic and overseas power generation base gives us more opportunities for revenue growth and for adding significant shareholder value”.  

TNB added that if it decided to pursue this acquisition, it would have to have an opinion from an independent adviser stating that the transaction is fair and reasonable and secure the approval of shareholders at an EGM. 1MDB said that the three bids for its power assets marked a significant milestone in its rationalisation plan, first announced by the Finance Ministry on May 29, 2015. 

“Over the next few weeks, 1MDB will be conducting an evaluation of the offers received, including reviewing the terms and conditions of the definitive agreements that the parties have proposed, and seek clarification where required.  

“As previously highlighted, our board of directors will be guided by, among other things, value maximisation to 1MDB’s shareholder, deal certainty and terms that are fair and reasonable in assessing these offers. We expect to enter into a definitive agreement with the chosen party shortly after the evaluation and negotiation process has been completed, before the end of 2015,” 1MDB said.