Dah jadi mainan sarawakreport....spin dan fitnah...mun sik extra garam dan gula setiap isu...

1MDB Stories You Must Read

During the 1990s, the 1st Generation Independent Power Plants (IPP) were set-up and during that time there was much anger from TNB and the late TNB boss, Ani Arope who refused to sign and then resigned.

The original IPP players then were Tan Sri Syed Mokhtar's group, YTL, Genting and Ananda Krishnan. 

Sime Darby was the other one but since it was seen as a government company, it did not attract as much attention as the other four but needless to say that these plants raked in billions per year in profits.

For many years, these four IPPs together with Tun M has been attacked by opposition for years saying that these are crony deals and why the government had to subsidize these IPPs.

In fact, in May 2011 Lim Guan Eng called these IPPs as "Big Opium" plants that requires RM19 Billion of subsidies per year. http://tinyurl.com/lkl6t4h

In quick succession, 1MDB bought over Ananda's power plants business (March 2012) and Genting's IPP plants (Aug 2012).

Then in October 2012. The Energy Commission announced the results of the latest IPP Power Purchase Agreement (PPA) concessions:

The results were a big surprise.

No extension allowed for Ananda's power plant (now under 1MDB - and which is why Ananda had to pay back the RM2b bridging loan for 1MDB) nor YTL.

No new plants or new concessions granted for Genting, TS Syed Mokthar, YTL or Ananda Krishnan - none of the original 4 alleged "cronies".

The only new concessions or power plant awards were either to 1MDB or Tenaga - no other parties.

Maybank research had remarked that the "Sweetheart deals are over." and that all renewed deals were done on a commercial basis at competitive rates. http://tinyurl.com/mdqlgdn

"The new IPP IRRs are now in mid-single digits, a vast improvement from the mid-teen IRRs enjoyed by the first-generation IPPs.".

Much of the mistakes of the past that cost Malaysians, Petronas and TNB tens of billions per year (and possibly more than RM100billion over the two decades) have been fixed by Najib, the Energy Commission and 1MDB.

In fact, Malaysia was supposed to have a scheduled electricity tariff increase in July 2014 and Jan 2015 under the "fuel cost pass through (FCPT)" mechanism implemented in Jan 2014 but 1MDB and other IPPs say no need because of the revised and corrected power purchase agreements.

And electricity rates were even reduced starting from March 2015 - due to falling coal prices as well as the much cheaper IPP tariffs. 

And TNB started to record big profits starting in 2013, 2014 and in 1st Quarter 2015, broke the record to register RM2.3 billion net profit for just 3 months!

TNB gets to enjoy much bigger profits while Malaysians get to enjoy cheaper electricity rates when fuel prices drop while Petronas no longer needs to subsidize as many private interests.

TNB interests protected, Petronas interests protected.. Malaysian electricity users interests protected - These are the winners. 

But who loses? Who are the biggest losers when such sweetheart deals are no more and who would these rich and powerful losers complain to?

What would they want to do? 

Perhaps this is why there is so much anger towards 1MDB and PM Najib - even from senior UMNO leaders. After read these stories, hopefully they will get a better picture. 


Nak digaggo oleh Masing yea apa hal jaga jak hal kita di Sarawak tok Dah....iboh nak politik 24 jam...

“The 30,000 to 40,000 Sarawakians residing in Johor should be given help, especially those who had been there for years, if help is sought. From past records, Sarawakans residing in Johor are good and peaceful citizens.” Masing’s sentiment was, however, not shared by Abdul Karim, who said Mohamed Khaled’s proposal deserved to be appreciated and applauded.

“Sarawakians in Johor come under the purview of Johor, not Sarawak. Much of their needs and welfare can be taken care of it they have a political vehicle,” said Abdul Karim, when contacted yesterday.

Hence, Asajaya assemblyman Abdul Karim said Sarawakians here should not get too emotional or think this was one way for Umno to spread its influence among Sarawakians.

“As it is, there are many Sarawakians who are Umno members, through Umno Club, when they are studying overseas. The situation in Johor is somewhat similar.”

Wan Junaidi, in echoing Abdul Karim’s sentiments, said the Umno branch would serve not just as a political platform but a way for Sarawakians to play a more significant role in the state. He even suggested that these Sarawakians be given the chance to register as voters in their current place of domicile in Johor.

“For me, there is no problem for Sarawakians, be they Ibans, Bidayuhs, Malays or other races, to be Umno members in Johor, as long as Umno is not brought into Sarawak,” said Santubong MP Wan Junaidi

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