Malaysian financial services firm K & N Kenanga Bhd said its Dubai unit had won a mandate to raise financing for a $5-billion power project in Southeast Asia.

It said the mandate was given to its Dubai-based subsidiary, MeNA Financial Group Limited, by an unlisted Malaysian-based company, Transpower Energy Ventures Sdn Bhd.

'The terms and structure of the financing are currently being worked out by the investment banking team in MeNA,' Kenanga said in a statement. It gave no details on the project.-Reuters