Author Topic: TNB's RM944 million loss  (Read 2251 times)

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Offline mrfeelgood

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TNB's RM944 million loss
« on: January 21, 2009, 06:52:40 PM »

Tenaga Nasional posted a net loss of RM944 milllion in the first quarter to November 30 2008 and blames weak electricity demand, higher coal prices and a weak ringgit for the losses.

2 things that doesn't seem quite right here ...

#1. A monopoly losing money?
#2. Weak demand for electricity?

The report mentioned ..."Revenue rose 27.2 per cent to RM7.8 billion from RM6.2 billion the previous year" ... I'm no number cruncher but isn't an increase in revenue caused by higher demand? And really ... weak demand for electricity?  ???

Some were saying that TNB's contracts with the IPPs may be among the reasons for the losses. Oh yeah!!! They were also planning a hefty pay raise and handsome bonus for TNB's CEO. Luckily common sense prevailed!

Read the full article in Business Times
« Last Edit: January 21, 2009, 07:44:39 PM by mrfeelgood »

Offline najeeb

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Re: TNB's RM944 million loss
« Reply #1 on: January 21, 2009, 08:17:53 PM »
TNB's CEO, Che Khalid's CV ..

MD of KTMB - losses! then KUB, also losses and now TNB - losses some more!

This guy is one heck of a CEO! Good at making losses!

Offline bjgolfer

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Re: TNB's RM944 million loss
« Reply #2 on: January 21, 2009, 08:46:39 PM »
What is RM 944 million to the CEO? Chicken feed!

After all, not his money what! So who cares if TNB is not making money. As long as his salary gets increased plus hefty bonuses.

And this is the performance of a guy who is ear-marked to head Petronas!


Offline jebatswing

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Re: TNB's RM944 million loss
« Reply #3 on: January 21, 2009, 10:05:41 PM »
Funny eh! I thought the whole world is facing an energy shortage and here we are in Malaysia we have this TNB's Chief Entertainment Officer telling us that demand for electricity kurang? And with TNB having a monopoly & no competitors. Really difficult to swallow!
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Offline joebunker

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Re: TNB's RM944 million loss
« Reply #4 on: January 22, 2009, 10:25:28 AM »
Some were saying that TNB's contracts with the IPPs may be among the reasons for the losses.

The IPPs make more money than the Ah Longs, and even Ah Longs can get into trouble if their borrowers run to Michael Chong to complain and get their plights published in newspapers. Then the Ah Longs will have to spend more money on red paints to splash on the borrowers cars, houses etc.  8)

For the IPPs?  .... just ring a few people to get TNB to pay. The got a watertight agreement. And who's paying for these IPPs' profits? You & me - the rakyat! And how would TNB off-set their losses? Increase the tariffs lah so that common people like you & me would have to pay higher electricity bills.

Is this just another excuse to raise electricity tariffs? And kita mana mau lari kalau mau complain? Mau complain sama itu Michael Chong kah?
« Last Edit: January 22, 2009, 10:28:09 AM by joebunker »
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Offline ajin

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Re: TNB's RM944 million loss
« Reply #5 on: January 22, 2009, 10:41:47 AM »
Kita satu Malaysia semua mogok- kita guna lilin ngn minyak tanah ala zaman flintstone..... night golfing pun kita jgn main!  :D

Offline samsul

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Re: TNB's RM944 million loss
« Reply #6 on: January 22, 2009, 10:52:33 AM »
#2. Weak demand for electricity?

Yg ni senang je nak cari jln penyelesaian..... semua 200 lebih pdg golf kat msia ni adakan nite golfing & semua golfer2 kat msia ni diwajibkan main golf sebelah malam ... amacam? ini idea bole pakai? ;)

Offline salleh

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Re: TNB's RM944 million loss
« Reply #7 on: January 23, 2009, 02:07:07 AM »
Ini kalau dlm "The Apprentice" Donald Trump sure akan kata .... "Che Khalib, you're fired!"  ;)
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Offline alvinyap

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Re: TNB's RM944 million loss
« Reply #8 on: January 23, 2009, 07:43:24 PM »
Its a well-known fact that the major contributing factor to the losses were all caused by the IPP factor. They made tonnes of profits at TNB's expense. TNB's over expansion & IPP deals were all done during the previous administration. If there's anyone to be blame .. well! you know who to point the fingers at lah!  ;)
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