My Anthem

Tuesday, June 06, 2006

A bulb lights up...

And we consumers are wised up to the fact we have been suckered/sucked/*ucked! Again and again,
and certain Malaysians are already calling on Tun Dr Mahathir Mohamad to make a come-back.

How MASOCHISTIC can Malaysians get?
Every four/five years they go to the polls, vote the Dacing, then complain, complain, cuntplan...

TENAGA NASIONAL BHD (TNB) raised tariff rates by 12% from June 1, 2006 and a certain minister says only about 40% of the populace would be affected. He meant that the power income holdholds who use less than RM40 a month of electricty bills would not be affected.

The minister DISCOUNTS completely that the business sector, especially transportation, manufacturing and all large and medium sized businesses would have to put up with higher power bills, so naturally this rise in expenditure is passed on to the customers -- finally the end-users like Avergae Joe/Jane will see a declining ringgit purchasing power and less money in the pocket before the end of the month is out, anxiously waiting for the next payday. Yet such minsiters are voted in GE after GE; and 90% mandate for the Barisan Nasional in March 2004. Dear consumers/voters, don't you think you bear a large portion of the blame/bill?

Okay, the bulb that lights up the dark room is ...
TAN SRI ANI AROPE, former TNB Executuive Chairman.

IN an exclusive interview with The Star June 6, 2006 on page B3, Ani said chiefly to the effect:

* The suckering came about from the time when the Government decided on the PRIVATISATION ("Piratisation" as some smaralecs say:( of the power geeneration sector to address the issue of stable power supply after the landmark 1992 BLACKOUT.


** In was during ANI's chairmanship of TNB from 1990 to 1996 when the KEY ISSUE of TNB buying the power generated by the Independent Power Producers (IPPs) had to be decided, and TNB literally was told it had no power -- yes, zilch! -- to have any input on the decision-making. The EPU will decide -- and TNB's head and all his staff can go fly a kite, that was what it amounted to.


*** The TNB management was over-ruled in decision-making by those powerful people at the ECONOMIC PLANNING UNIT (EPU) -- and if you don't know that the EPU is located at the Prime Minister's Department, now you know!
And you you still are in the dark who was then the PM, it's (now retitred) TUN DR MAHATHIR MOHAMAD; okay, now you know. And if you wish to stop reading from here, please do so, I won't blame you.
So if you still long for the halcyon days pre-2004 for two decades: Go get some Other Light!


Just some key extracts, and I would refer other Readers still interested to go spend RM1.20 on the paper-lah; if need to, read before twilight (about 7.00pm by my reckoning) before you have to switch on the living room lights!
"Change life-style-lah!", you masochistic Malaysians. If I offend thee with such a parting shot, IT'S NOT TARGETED AT ALL MY ER.
It holds true top those who "makan cili dis lah yang rasa pedas nya". Desi also does NOT hail from Pedas, Negri Sembilan. For the record, I come from Furong aka Seremban, NS.

From the horse's mouth~~~~~~~




"...THEN it surfaced that it wanted to privatise the power plants. I am not anti-IPPs per se. It is good to have other players but it has to be done fairly. It has to be fair to the consumers, not just TNB, which is a conduit. TNB, because of the electricity hike, has been treated as the whipping boy. The focus should be on the consumers.

When the generous terms were given to the IPPs, all my other peers around the world asked what was happening. They said they would like to have a share in the IPPs. They said (the contracts to IPPs) were “too darn generous.'' (The terms) were grossly one sided.



The Star: How was the Malaysian model of IPPs created?

Ani: Ask our previous Prime Minister.



The Star: How was the process of negotiations with IPPs conducted?


Ani: There was no negotiation. Absolutely none. Instead of talking directly with the IPPs, TNB was sitting down with the EPU. And we were harassed, humiliated and talked down every time we went there. After that, my team was disappointed. The EPU just gave us the terms and asked us to agree. I said no way I would.


The Star: What about the pricing and terms of the contracts?

Ani: It was all fixed up. (They said) this is the price, this is the capacity charge and this is the number of years. They said you just take it and I refused to sign the contracts. And then, I was put out to pasture.

DESIDERATA: One tall salute to TAN SRI ANI, who paid a heavy price for sticking to his PRINCIPLES. Does this ring some light on one MP, from JB, that this reminds me of one Sharir Samad?

So few goode men left in Malaysia;
but you VOTERS have better protect this declining species.

Before Desi switches off the bulb, here's some sobering words for Malaysians -- from one I deem a Towering Malaysian -- and I hope they raech especially those serving as CEO at listed, listing and de-listing companies of BURSA MALAYSIA (former Kuala Lumpur Stock Exchange)~~~~~~~



The Star: How were you affected by the process of awarding the IPP contracts?

Ani:

I felt sick. It was morally wrong and not fair. If it is legal and not fair, I will not do it. If it is fair and illegal, I still won’t do it. It has to be legal and fair.

We work for the consumers, workers and shareholders. TNB is morally obligated to these three, but the consumers come first, otherwise we won’t be around. It is then the workers and the shareholders.

When I said that, they said ‘Dia ingat bapak dia-punya’ (He thinks this is his father’s company). This job is an amanah (trust). You are entrusted with this responsibility and you carry it out to the best of your ability. I do not want somebody to come and urinate on my grave. In the Malay culture, that is about the worst insult they can do to a man.

PS: An extract from KLSETRACKER.COM~~~~~~~


GOVERNMENT APPROVES TENAGA's NEW TARIFF HIKE OF 12%

TENAGA NASIONAL reported May 24, 2006 that the Government had approved its tariff hike of an average of 12% for monthly consumption in excess of the first 200kwh. Exemptions from the price hike are also provided for certain agro and farming-based primary production industries and for Government schools, universities and welfare institutions.

EDITOR's NOTES:


TENAGA is the Government-controlled electricity utility. The utility purchases a fair amount of its electricity from privatised concessionaires at relatively high prices. These privatised concessionaires were set up during the Mahathir Administration to overcome shortages and as political trade offs for certain vested segments.
The Government allowed for a tariff hike to overcome costs increases for the utility. The tariff hike is expected to give TENAGA a Revenue boost of RM1.5 bil. per year. In FY2005, TENAGA recorded Revenues of RM18.9 bil. The last tariff hike was in 1997.
TENAGA earned Net PAT over Revenue (ROR% - Return on Revenue %) range of 4.5% to 6.7% in the past 3 years up to FYE2005. Based on FY2005 ROR of 6.74%, TENAGA is likely to earn an additional Net PAT of RM100m. With NOSH (number of outstanding shares) of 3.23 bil shares as at Feb 28, 2006, the Net EPS is approximately 3.09 sen per share.
Based on noon closing price of a gain of 50 sen per share, the PE multiple of the projected gain translates into a PE multiple of 16.2 times.

17 comments:

Fashionasia said...

i actually dont care if its the dacing or the cacing thats in control. But what i know is that our PM got to start taking out the whip and whip some @sses & let out some huge @ss roar before all the little mouses starts climbing up his head.

chong y l said...

FAshionistA:

I echo you appeal to the Prime Minister: whip some @sses.

But I also remind Malaysians in general:
You desrve the Gomen you elect very 4/5 years! ~~ Better do something TODAY! You get out from the Comfy chair in thy living room; and Move away from the sidewalk into the Streets of Action NOW!; and longer term, Vote Wisely at the Ballot Box.

Helen said...

Desi, u know I dun think like u so, feel free to correct me .... In my puny mind, there's 2 (among many others lar..) problem....

1. Cinapek and pendatangs are the minority. Size do matters.....
2. Land princes(& princessess) are so used to handouts, they're just too lazy to care. Hey, I dun have to know the hands that feed me as long as they are hands feeding me. (nvm we and our offsprings are eating breadcrumbs from the floor and master is eating roast beef) Beggars cannot be choosers... as long as there is something to fill my tummy, I'm satisfied. There is simply no reason for them to refuse the charity.

The land ppl know they are shortchanged by the 'elites' but, still not good enuff reason to go seeking changes.

The only time there could be changes is the day when the charity stops.

Helen said...

Charity of course won't stop because it's their trump card.

Arena Green said...

This is a good rite Desi. But Ani's revelation won't change an iota on how things continue to be done in Bolehland. The buck stops at the PM's feet and he seems comfortably stuck in a block of ice.

I'm looking forward to the next GE to see if Malaysians in general really are a sadistic lot.

In the meantime, we get to enjoy a few more rounds of great comedy over a tehtarik or two? Cheers Desi!

chong y l said...

helen:

You are tackling the nation's problems all at one time, my dear -- it's NOT that you don't see IT Desi's way or that, quoting thee " In my puny mind, there's 2 (among many others lar..) problem...."

I'm trying to educate my ER on the issue at hand: Energy generation and the latest tariff rate hike, and making certain that we know the ROOT of iour propblem....
And we must TAHNK ANIO AROPE ofr providing us some LIGHT in this world of (politikus-)imposed DARKNESS.

On the "charity", Pendatnag/ "Special privileged" princes of the tanahku;
THak you" for your input and many views, many of which I agree, but need much more reflection; these and other National issues, I hope to do so as these issues arise.

Bear with Desi -- his plate is quite full. Mui mui Helen, Not da CON on Sundae -- you wanna fill dat UP?:) Come, let's calm our nerves with Tehtarik, plus some Ha!-lia, when this wickedend I'll elaborate is a fantsatic additive to our national beverage. Can we franchise this and we go JV in China? and UK? and Timbuk2 too!:):)

chong y l said...

Anak Merdeka:

Rome is NOT built in one day.

I see Pak Lah is moving in the right direction -- he inherited a lot of BAGGAGE (including iKabionet membeers who should have been fired or set to the bonfire -- less Tenaga energy to light up our lives!:)

I know Malaysians, including Helen and Desi, want to see the PM whip some *sses; but remember there are some powerful corporates (Ani's story will open up theses dark corners! like YTL, Malakoff and all those IPPs, remember?) )aliogned with Pak Lah's "rivals" waitig to pounce like Panthers or Crocodiles.

Let's put our weight to the "Right" side -- tho it be the "lesser" of two evils.
Be carrrefool that in Blogsworld, we don't become the "knives" a third partyu will use to kill another! (Adapted from Chinoserie saying which I'm sure my ER know what I wanna say...:)

TH said...

So many things to catch up! And I'm still nowhere near home :)

Just dropping by your blog..

Helen said...

LOL... this weekend?? I will be late.... I got appointment with sea, sand and sun!! (no bird-dae suit though...)But will be looking forward to ur weekend post as soon as I'm back on planet earth with empty wallet..

Hopefully, the hotel got free internet access.

Hmmm still undecided if I should bring along my notebook....

chong y l said...

twisted heels:

I was thinking your mountain biking has taken thee to shangri-la and was about to tele Howsy to lodeg an MIA report.
Then i remember you saying you're riting dat POME, so mountain air is refreshing eh?

I'm Mr Patient wan...meanwhile, drink lots of air gunung boleh ta pau ke?

chong y l said...

helen ~~ how many hiati (or isit hiatus-es?) do you go in one month? I'm jelles, see double "l"?

Do run around in birddae suit unless Desi's around -- he has got wings wan, can rescue thee from da coppers ... Angels have no sex, I remember thou telling Tegh-C by the sea, counting seashells by the seashore, remember dat tongue twister? Am I reminding US we're geting Younger by the Sun, sand and money, Honey, what shore?

Helen said...

Petrol hike and elektrik now, I'm afraid I'll have to go Glokal without the G. (no G-string )

I'm going to the beach nearest to Ipoh but I had yet go visit until now.... former Pangkor Pan P. I've booked 2 nights but will play by the ear. If it's nice, I'll extend another night....

One step at a time.... I'm still hoping to go YTL island one day. :-( You've been ar? Got stay in Italian Parrot suite before? lol

Plenty of pics coming.....:-P

Howsy said...

Ooohhhh...I smell some editor of KLSE Tracker...

Fuel hike=to fund MAS.
Electricity hike=to fund Bakun.

Simple as ABC.

Anonymous said...

I don't vote for moron, but other moron votes. Oxymoron keep talking smart about devils from both sides, but not smart enough to use vote to make devils fight for their own good.

And from the surface, many says ex-PM is great man, lead the country growth. All I want to say is,"Hitler and Mao also great leader, but do you want to live under their visions".

Helen :Face the truth. Do your know that East Malaysia Non-M*l*y Landprince are NOBODY, they are actually DIRTS to the ruling factions. Non-M*l*y Landprince only "useful" for cheap vote buying practice every 4/5 years.

Oh no, I need to surf more prOn to keep myself kool.

chong y l said...

helen:

Glokal without G-string is still kurl becos some Msians don't get even local hols:)

I'm stil;l looking oyut for that bride with "G" striong, on my RM20m I-LAND, will you help raise some fun-D?

Sand, sea and Money, Honey...LOL,
I am triply jellles!

YTL eh? You got conneXions? Unfortunately I did not get an IPP, or an AP, but still hAPi with friends like thee and other Ipohlang such as Howsy, and SeeFei? (half Sexported to sinL?) to KPC!

"KPC" comes from an Anak Merdeka -- 100% ke? Raise several glasses of Haroidas bestA all round, plus One to Ronaldino2 for AM's sHakes:)

Helen, come back SUNtanned rite, No mooney and starry-eyed, for tghhat's for VINcent. Not a Tan!

chong y l said...

howsy -- don't whisper so lowwedly lah!

Peace Hill people all around -- after come take away all my Haridas' bestA, how? AM's Ronaldo-ho-ho-ho2!the one you bought specially for only HER!:)
Now me jelllles4! World Cup, my kaki! jest an Xcuse!:(

chong y l said...

moo_t:

I would've agreed with those Others about great Dr Mahathir IF ONLY HE HAD EXCUSED HIMSELF AFTER SERVING 10 YEARS AS PM.

The second Decade saw lots of Malaysians suckered/sucked/*ucked!