Bakun Takeover seen as ‘best domestic merger, acquisition’

KUCHING: The RM2.5 billion acquisition of Sarawak Hidro Sdn Bhd (SHSB) by Sarawak Energy Bhd was recognised as the ‘Best Domestic Merger and Acquisition Deal in Southeast Asia for 2017’ during the 11th Annual Alpha Southeast Asia Deal and Solution Awards recently.

The acquisition gave Sarawak Energy full ownership of the Bakun hydroelectricity plan � the nation’s largest hydropower generating facility.

Sarawak Energy group chief executive officer Sharbini Suhaili accepted the award at the ceremony in Kuala Lumpur on Feb 13.

Accompanying him were Sarawak Energy chief financial officer Alexander Chin, executive vice president for strategy and corporate development Ting Ching Zung, SEB Power chief executive officer James Ung and senior vice president of human resources Dr Mak Met.

At the same event, Sarawak Energy was also honoured with the ‘Borrower/Issuer Award Plaques’ for its RM1-billion Sukuk Musyarakah Issuance in December last year.

Last year, RAM Ratings reaffirmed the AA1/Stable rating of Sarawak Energy’s RM15-billion Sukuk Musyarakah Programme (2011/2036).

Source: Sarawak Government