{"id":18975,"date":"2017-08-17T23:40:26","date_gmt":"2017-08-17T15:40:26","guid":{"rendered":"http:\/\/www.suppnewsportal.com\/main\/?p=18975"},"modified":"2017-08-18T07:42:19","modified_gmt":"2017-08-17T23:42:19","slug":"sarawak-energy-acquisition-or-bakun-hep","status":"publish","type":"post","link":"https:\/\/www.suppnewsportal.com\/main\/?p=18975","title":{"rendered":"Sarawak energy acquisition or Bakun HEP"},"content":{"rendered":"<p>RM2.5B Share Sale Agreement sees Sarawak Energy purchase Malaysia\u2019s largest hydropower generation asset<\/p>\n<p>Kuching, 16TH August 2017: Sarawak Energy Berhad\u2019s (Sarawak Energy) share purchase of Sarawak Hidro Sdn Bhd (SHSB) was completed today with the signing and close-out of items detailed in the Share Sale Agreement (SSA). Following this, Sarawak Energy will assume control of SHSB, the owner and operator of Bakun Hydroelectric Plant (HEP).<\/p>\n<p>Sharbini Suhaili, Sarawak Energy\u2019s Group Chief Executive Officer said, \u201cI am pleased to announce that we now own the 2,400MW Bakun HEP, the largest hydropower plant in the country. This achievement was made possible through our Chief Minister YAB Datuk Amar Abang Haji Abdul Rahman Zohari Tun Datuk Abang Haji Openg\u2019s strong leadership and support.\u201d<\/p>\n<p>\u201cThis will allow us to consolidate power production, enabling us to have full ownership and operatorship of all major electricity generation facilities in Sarawak. We are grateful to the Sarawak Government for their continuing trust in Sarawak Energy to deliver the State\u2019s strategy to develop and consolidate Sarawak\u2019s energy resources,\u201d he continued.<\/p>\n<p>The SSA to acquire Bakun HEP for RM2.5 billion was completed at Sarawak Hidro\u2019s office in Selangor today in the presence of representatives from all parties involved.<\/p>\n<p>Following the completion of the SSA, SEB Power Sdn Bhd &#8211; a wholly owned subsidiary of Sarawak Energy &#8211; acquired 100 per cent of shares in SHSB from the Ministry of Finance and Pesuruhjaya Tanah Persekutuan. The Ministry of Finance will maintain the current Letter of Undertaking and Government Guarantee on SHSB\u2019s existing debts.<\/p>\n<p>The acquisition is being funded through a mix of Sarawak Energy\u2019s internally generated funds and SUKUK financing.<\/p>\n<p><a href=\"http:\/\/www.suppnewsportal.com\/main\/wp-content\/uploads\/2017\/08\/image118.jpg\"><img decoding=\"async\" loading=\"lazy\" class=\"alignleft size-full wp-image-18976\" alt=\"image1\" src=\"http:\/\/www.suppnewsportal.com\/main\/wp-content\/uploads\/2017\/08\/image118.jpg\" width=\"2048\" height=\"1365\" srcset=\"https:\/\/www.suppnewsportal.com\/main\/wp-content\/uploads\/2017\/08\/image118.jpg 2048w, https:\/\/www.suppnewsportal.com\/main\/wp-content\/uploads\/2017\/08\/image118-300x199.jpg 300w, https:\/\/www.suppnewsportal.com\/main\/wp-content\/uploads\/2017\/08\/image118-1024x682.jpg 1024w\" sizes=\"(max-width: 2048px) 100vw, 2048px\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>RM2.5B Share Sale Agreement sees Sarawak Energy purchase Malaysia\u2019s largest hydropower generation asset Kuching, 16TH August 2017: Sarawak Energy Berhad\u2019s (Sarawak Energy) share purchase of Sarawak Hidro Sdn Bhd (SHSB) was completed today with the signing and close-out of items detailed in the Share Sale Agreement (SSA). Following this, Sarawak Energy will assume control of SHSB, the owner and operator of Bakun Hydroelectric Plant (HEP). Sharbini Suhaili, Sarawak Energy\u2019s Group Chief Executive Officer said, \u201cI am pleased to announce that we now own the 2,400MW Bakun HEP, the largest hydropower<a href=\"https:\/\/www.suppnewsportal.com\/main\/?p=18975\" class=\"read-more\">Read More<\/a><\/p>\n","protected":false},"author":1,"featured_media":18976,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1,7],"tags":[],"_links":{"self":[{"href":"https:\/\/www.suppnewsportal.com\/main\/index.php?rest_route=\/wp\/v2\/posts\/18975"}],"collection":[{"href":"https:\/\/www.suppnewsportal.com\/main\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.suppnewsportal.com\/main\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.suppnewsportal.com\/main\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.suppnewsportal.com\/main\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=18975"}],"version-history":[{"count":1,"href":"https:\/\/www.suppnewsportal.com\/main\/index.php?rest_route=\/wp\/v2\/posts\/18975\/revisions"}],"predecessor-version":[{"id":18977,"href":"https:\/\/www.suppnewsportal.com\/main\/index.php?rest_route=\/wp\/v2\/posts\/18975\/revisions\/18977"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.suppnewsportal.com\/main\/index.php?rest_route=\/wp\/v2\/media\/18976"}],"wp:attachment":[{"href":"https:\/\/www.suppnewsportal.com\/main\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=18975"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.suppnewsportal.com\/main\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=18975"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.suppnewsportal.com\/main\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=18975"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}