Malakoff's power plant in Prai
KUALA LUMPUR: Malakoff Corp Bhd’s 436.4MW Port Dickson power plant has received an extension of three years from the Energy Commission (EC).
In a filing with Bursa Malaysia, the country’s largest independent power producer said its indirect wholly-owned subsidiary Port Dickson Power Bhd (PD Power) had accepted the conditional award made by the Government, through the EC, for the extension of the operation of PD Power’s existing power plant in Negri Sembilan.
The award by the Government to PD Power is subject to conditions, which among others, include:
The conclusion of discussions with the single buyer, Tenaga Nasional Bhd
, on the new power purchase agreement and Petroliam Nasional Bhd or other gas suppliers on the gas supply agreement respectively; and
The extension period is for three years from March 1, 2016 to Feb 28, 2019.
The PD Power extension is not expected to have any material impact on the earnings and net assets of the Malakoff group for the financial year ending Dec 31, 2015.
The PD power plant is one of Malakoff’s smaller plants in the country in terms of power generation capacity.
None of the Malakoff directors or substantial shareholders or persons connected to them have any interest, direct or indirect, in the PD Power extension.
Malakoff shares shed 1 sen to close at RM1.60 on Tuesday.
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