Wednesday, March 05, 2014

Dato' Seri Najib's “Kangkung” Economic Model With 1MDB

Dato' Seri Najib Razak is practising “kangkung” economics by awarding lucrative
multi-billion contracts to qualified parties who are not the lowest bidders.

On 28th February, the Energy Commission (EC) confirmed weeks of alleged “baseless speculation”
that 1MDB will be awarded the new Independent Power Producer (IPP) 2,000MW coal-fired
power plant concession. The project is said to be worth RM11 billion.

Monday, March 03, 2014

Project 3B Awarded To 1MDB: An Attempt To Prop Up 1MDB

The Energy Commission’s award of RM11 billion 2,000MW Coal-fired power plant
(“Project 3B”) to 1MDB confirms earlier speculations and the complete lack of
transparency and accountability.

The Ministry of Energy, Green Technology and Water (KeTTHA) openly attacked me on 20th
February that my comments regarding the tender for the 2,000 MW greenfield coal-fired plant or
Project 3B was “baseless and mere speculation”. I had earlier accused the Government of
intending to make the award to 1MDB despite it not submitting the lowest bid for the tender to
supply electricity to Tenaga Nasional (TNB).

However, exactly 8 days later on 28th February, KeTTHA confirmed my “baseless speculation” that
1MDB will be awarded the new Independent Power Producer (IPP) power plant concession.