B l a t a n t. I hope what I heard is not true, that the CEO/President of this major Government-Linked Company, together with his Chief Financial Officer, are going to get a 100 per cent increase in their pay package!
If the CEO is getting a RM50,000 package now, he'll be getting RM100,000 a month. If the CFO is getting RM25,000 now, his package will swell to RM50,000!!!
If it's true that the Board of Directors of Tenaga Nasional Berhad has approved the increment (because that's what I have just heard, and they are just awaiting Pak Lah's approval as Finance Minister), all the Government's talk about saving cost and changing lifestyles because of the higher petrol/diesel prices will sound so very hollow.
And the July tariff rate increase already approved for this GLC will face the greatest opposition of all time.
Thursday, June 12, 2008
CEO & CFO of a GLC to get 100 % wage increase?!
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they are enjoying our hard earned money...what about keep things in control during this diffcult time..such a waste..ReplyDelete
I don't know why this country is so very unjust. TNB CEO getting so much bonus. My residential area in 3 days just faced power disruption in the middle of the night for two days, around 1.00am to almost 4am and during the day, the third day for more than 4 hours at Taman Angsana Hilir. Children and elderly people suffered the heat in the middle of the night, wee hours of the morning and day. Here we have the CEO rewarding with hundreds of thousands ringgit. This world is bloody unfair.ReplyDelete
If this is true, than I should think we should not pay our TNB bill with new tariff! We could calculate our bill based on the old tariff and pay.... TAKE IT OR LEAVE IT...ReplyDelete
Why should we pay for their luxurious lifestyle that comes with100% increment??
That's why l already predict this it's the outcome when we have incompetence ex-PTD PM.ReplyDelete
Orang dekat tabung haji dapat 8 month bonus, PA punya car allowance RM3000... biasalah....plenty of moolah going around but none for us!ReplyDelete
Bukan itu saje, backdated bro... to Jan 1... so arrears more than half a juta
jadi kita tau lah kenapa ada ura2 tarif elektrik akan naik 1 julai ini,ReplyDelete
Bro. Rocky, I would suggest you go and check first how much their peers among Bursa blue chips companies are getting every month? Fyi, CEO monthly package at MNCs nowadays run into 6 figures bracket!ReplyDelete
If this article is true. The whole Board of TNB should resign. the CEO and CFO should be kicked out first. They should assist the rakyat by keeping the tariff low and not increase their salary. What a shame!!!ReplyDelete
If the PM has any sense of fair play, then he should reject that stupid proposal immediately. The people are suffering and these corporate bigwigs gives themselves a hefty pay rise. In fact, the PM should ask them to take a pay cut instead.ReplyDelete
if this is true, this will be another sad day for tnb subscribers. they will have to fork out their hard-earned money to pay the tnb's ceo increased pay check through higher electricity tariffs.ReplyDelete
I expect nothing less than a sack on the CEO and Leo Moggie and his gang. I wonder what was going through their mind when they gave the green light to the increment.ReplyDelete
This is outrageous!ReplyDelete
Badawi is out of his freaking mind if he approves this. This will be unprecedented and blatant robbing of the poor to pay the rich. This cannot be condoned. Not now. Not ever. Let the rakyat rise and take out the Barang Naik party forever and line up the vipers against the wall and shoot them.
Where is DSAI? Where is Pakatan Rakyat? Why wait till September 16? Tonight is as good as any other time to take over this administration!
God, give the rakyat the strength and protection to rise up against tyranny!
- onevote -
dumb dumb ...ReplyDelete
Are they worth that kind of monies?
Open the monopoly out and see real market force to determine.
Probe the entire board. Investigate every board member of their interest in TNB.
Something is not right about them.
Well this is the prelude to increasing the allowances of the Board menbers.ReplyDelete
And now we also understand why we have that tariff increase. It is to pay for these salary increases. And to rub salt into injury, they will not only get to enjoy the 100% salary increase, the tariff increase will also make them look good with improved profits thus justifying even more salary increases.
Whats the big deal running a monopoly? TNB was so screwed up even a 5 year old could turn it around.
I dont think this is true. 100% increment?! Sounds more of a wishful thinking to me looking at the current economic scenario blazing the nation at the moment.ReplyDelete
News seen illogical enough (for the moment) such as this, should be checked of the fact, first and foremost. Rock, some of your readers are taking it as fact.
I reserve my comment until then.
Hehehehehe...I dapat Bonus on July How much?????Rm625.00 .Go to hell..to whoever from GLC (CEO,CFO)ReplyDelete
sucking..beter change yr life style
Its okay because TNB belong to mak bapak dia punya!! Pak Lah will surely approve, BECAUSE BOTH ARE PRESENTLY LOWLY PAID! Bangsat!!!ReplyDelete
I too demand a 500 percent pay package increase for housewives!!!ReplyDelete
Hey...what the..! We don't even have any pay rupanya...
Time for all us housewives to march to KLCC and call for a one week strike.
Then we will see total national paralysis...heh heh
SHALL WE TURN TO SOCIALISMReplyDelete
FOR A MORE JUST AND EVEN
DISTRIBUTION OF WEALTH
AMONG THE RAKYAT ?
ANY COMMENTS DEAR READERS
sebenarnya, ceo tnb is sahabat mokhzani. Beliau hanyalah Senior Manager di PLUS. Kerana sahabat di sekolah, maka mokhzani membawa CV beliau jumpa daddy. Jadi Daddy lantik dia jadi CEO KUB! Sampai tak untung KUB, cepat-cepat jumpa mokhzani minta jadi CEO GLC yang bagus. So jadilah dia CEO TNB.ReplyDelete
Jadi nak cakap dia mahir dalam pengurusan syarikat. Maaf tak juga. Kerana network, beliau menjadi begini sehingga demand gaji besar. Mokhzani still dapat business dengan TNB! Ini dipanggil kroni!!!
Bandar sunway semenyih
PM says "Tighten Belt", "Change Lifestyle", "Jimat".ReplyDelete
Some people are deaf and have no feelings.
Maybe the Board of Directors also gaji naik. So they are all only too happy to "setuju" all round.
Who are in their Renumeration Committee?
sebab tulah aku cakap pas adalah parti pilihan sekarang ini,ReplyDelete
tengok saja nik aziz walaupun ia seorang menteri besar tapi kehidupan dia sederhana saja orang macam ni tak berminat dengan kekayaan, sebab dia rasa dah cukup dengan apa yang dia ada.
Please do not get overly excited. I agree that we should compare with what similar companies pay their top management personnel. Maybe a 100% increase and the timing sucks but the amount may not be too far away from the norm.ReplyDelete
After all if we pay peanuts we get monkeys. I'm not saying we are not getting monkeys already :-)
I think Rocky, being a responsible and experienced journalist should have made some comparison.
If you think CEOs of GLCs are getting too much, shout out loud and demand for the salaries and perks of the CEOs and executive directors of Khazanah!
Of course the Khazanah boys will say they have brought in profits, but any hare-brained pimply-faced kid can do the same if he can take over distressed properties from DanaHarta and sell it off at the current market-rate!
What is worse, none of the management in the present-day Khazanah have track experience in running a business. Most of them are academics with university degrees..having some knowledge but no experience.
Wahai para sahabat sekalian india,cina,melayu dll bangsa.kemiskinan tak kira bangsa begitu juga kami se famili.ReplyDelete
kepayahan dan kesusahan nk cari mkn kini betul betul amat terasa.Dimana wakil rakyat yg perihatin,dimana YB yg perihatin.Dimana Kerajaan yg perihatin.
Saya dan isteri telah lama menggangur tak berkerja anak2 masih belajar 5 org kesemuanya .Nk jual nasi lemak dah ramai yg jual,nk buka gerai tak ada modal.Nk berniaga tiada modal.
Apabila beras naik harga terasa amat pedih,tak tau nk cari duit dimana,kini harga minyak pula naik dah tentu brg2 lain naik.Kami amat menderita wahai Tuan/Puan dgr lah rayuan kami.Nk tanya Kerajaan BN mampus nk peduli,
Tolong lah kami.Tolong lah kami.Bayangkan lah kami nak beli beras pun tak ada duit ,anak kesekolah terpaksa ikat perut.
Wahai kawan2 rakan2 para sahabat dgrlah.
kami teringin nk berniaga kalau ada para dermawan atau org-org yg berduit tolong lah kami.
Terima kasih kerana sudi membaca.
INI LAH BAHANA KEMISKINAN
I think the key thing is to measure the performance of those individuals and reward them accordingly...ReplyDelete
I disagree with GLC's paying out huge salaries unless justifications can be made on public record OR allow privatization with removal of restrictive competitive clauses...A monopoly of the industry doesn't justify huge salaries but breeds incompetance.
What a contrast of scenarios between two big glc's.ReplyDelete
In one corner we have sime darby which is punishing it's top execs for losses incurred some time ago worth 120m and in the other corner we have tnb that's in the midst of rewarding it's top execs particularly the highest exec for doing a screwed up job. Coincidently, the same top exec was the same joe who's managment caused tnb to loose close to 300m on some dodgy coal deal in kalimantan few years back.
They privatized tnb to make it "efficient". It's not.
They privatized tnb to so-call give back to the rakyat in forms of share dividends but how many of us own tnb shares? or have (now depleted) savings in government investment institutions?
What the hell! just take it back and turn it into LLN once more. At least as a government department there's no excuse of raising tariffs to show profits.
Good for them. Must be prepared to answer all kind of cursing and opinion from all over.
Anyway, I know of one GLC company that gave some RM16 increament (nak beli beras sekampit pun tak cukup) to staff and so so bonus although they performed better than the set KPI.
So, not all GLC staff are paid handsomely. Some are only getting peanuts.
Again, our PM is weak and everyone knows how to bend his head down.ReplyDelete
These are just a few of the modern day Ali Baba's 40-odd thieves bro.ReplyDelete
The others are doing similar acts elsewhere and its just a matter of time before these robberies are exposed.
just contrast the life style of Kelantan Govt. CEO, TG Nik Aziz. You will be so amazed..Watch http://www.youtube.com/watch?v=PaR3_AnxA3k -anonymous fairplayReplyDelete
i agree with melayu lama above.ReplyDelete
Let the government re-nationalise KEY public utility companies like TNB, Syabas & Telekom and take back management control to protect the rakyat's inherent right and access to secure and affordable electricity, water and telecommunication services.
These public utility companies plus the public health service sector are far too dangerous to be in private hands. These have great national security implications and the whole nation can be put at risk and held ransom to should the control of these sectors fall into foreign hands/governments.
Since when are we to make sinful profits in basic public utility services at the expense of the rakyat? E.g. who can morally own water supply to the people when rain water is a free gift of God?
Dr M, with all his brilliance, had stupidly aped Margaret Tatcher's penchant for PRIVATISING national public utilities to the detriment of the people.
Re-nationalise, stop privatising! Our highways is another sector that should be under government control for the benefit of the rakyat and not for a few individuals to make sinful profits year after year.
Our leaders are so clever to be so bodoh! The rakyat is not!
hmmm, that might account for the need to raise the electricity charges by 18 - 26%ReplyDelete
Well done flip-flop gomen, ehhh, why they no pay cut 1?
Well, well, well, so what else is new, everyone has to tighten, change their lifestyle but all of them get their wages increased or no cut back on them.ReplyDelete
Why havent they publish a detailed cut backs ie all allowances with salaries for us to weigh it ourselves.
Malas la, asik kita yang kena buat itu la, ini la and memahami keadaan, dia orang dengan kehidupan kaya raya tak ada effect.
prasarana ceo and staffs,wat a waste of public funds.ReplyDelete
Every year, AKJ's magazine Malaysian Business publishes how much directors in Malaysian companies make. Some makes RM20+ million a year. The list of those who makes more than RM1 million a year is pretty long. Look at the list carefully and see who's making what. Really, who's actually making the real money in Malaysia?ReplyDelete
Yes, now is a tough time. But, if we don't pay well enough, these good managers will just work in middle east, where the pays are better, the income tax is nil and the fuel is cheaper.
i used to work at tnb. after seven years, my pay was only RM3700. just to share with all of you.ReplyDelete
but to give the CEO and CFO 100% increase soon after the drama, that's such a bad move! but we have to compare what other GLC CEOs are earning. as an ex-employee, i can honestly say that there are many deadwoods in tnb and they can be more efficient. they still have the gomen mentality.
and we just swallow what ever they give to us...'takpeLAH..., now we know how stupid we are by let them make us looks stupid..ReplyDelete
election time we give them vote, after election they give us 'increment'...so nice this goverment, make me loved them by cursing them to death...
Apa kata kita ramai ramai satu Malaysia kempen tak bayar bil come july.
TNB tak boleh potong immediately pasal deposit ada lagikan.
Tengok dia gelabah satu bulan punya collection tak dapat.
Baru lah Che Khalib gabrah.
Kalau tidak, selama ni dia naikkan rate letrik, lepas bila untung hujung tahun, claim dia buat kerja bagus.
Apa TNB nak buat.
Some questions to ponder:
1) Dulu, Lembaga Letrik Negara
How much was your electricity
bill per month?
2) Sekarang, Tenaga Nasional
How much is your electricity
bill per month?
P.S. Unlike some of our policy-makers who don't appear to understand basic macroeconomics, don't forget to adjust for inflation and the presence of air-conditioners in the house!
Phua Kai Lit
we need to start using solar power...a solar panel to power up a house lets say 1600 sq ft is about RM1.5k plus (plus) installation shud be about less than 2k... it is enough to power up basic electrical items like lighting, fan, tv and perhaps also a unit of 1 HP aircond.... we can use TNB electricity on the other hand on the minimal..ReplyDelete
and let's see what happens to TNB then.. they will die kang kang!
I guess it's alright to give increment but looking ahead that our economy is facing uncertaintity and hardship, giving so much of increment is just like feeding a hungry tiger in the desert.We all should tighten our seatbelt now instead. What happen they do a shoddy job next year making a huge loss and we got to sack the bugger, compensating them based on their contract?? Come on bro and sis, increment is ok but make sure who, how and when the increment is made.ReplyDelete
I believe TNB can be a very profitable company without having to resort to increasing tariff that will burden the simple joes and janes like you and me!
The fact of the matter, as you have said, there are many dead woods lying around and the working mentality is like government, do you seriously expect employees of the organisation, CEO, CFO, UFOs and duno who else to be paid market rate? OF COURSE NOT la!! What to behave and work like government, than get paid like government la!
As for increase in tariff, well, that is the fastest way to enrich themselves instead of having to rectify the core problem.. it is just like how things are run here in Malaysia...
sudah terang lagi bersuluh.ReplyDelete
If this is true, It is time for the TNB employees to do get up and show the management that if you guys are not around, there won't be anyone to work for them. And the whole Malaysia got no electricity. That is including the higher managements' houses too. Make them use candles for a change. Let see if they don't burn their own house. Yup, they pay their bills but they don't pay the employees well.ReplyDelete
ohhh...this is one of the reason why they want to increase electricity rates!!!ReplyDelete
Why do I am this MORONIC government still around!!
So much of suffering among its people and that unnecessary salary hike!!
Yes, blatant inhuman and disrecpectful of the lowest degree. These two jackals should live in Pol Pot's times.ReplyDelete
Come on, don't you two have feeling of shame. TNB is not a private company, it is a GLC.
You two really has thick skin to accept them.
Are you sure ah of such rumour? Kalu tarak betul, bloggers will be label rumour-mongering oh.
Tapi sikarang you sudah picah itu tembelang, nanti diorang tarik balik itu naik gaji, you juga kena red-face...
Tapi tarak apa, janji diorang tarak bole naik gaji itu macam saja, red-face-kah tarak red-face, tarak kisah...janji itu benda tarak belaku.
Kita punya orang elit ini punya idol ialah orang arrmericcano sama itu orang eropah...diorang punya gaji, cak-beh-liao ohh, tapi masih tarak cukup oh
Anon 9:20 PMReplyDelete
"Bro. Rocky, I would suggest you go and check first how much their peers among Bursa blue chips companies are getting every month? Fyi, CEO monthly package at MNCs nowadays run into 6 figures bracket!"
We cannot compare apples with oranges ! Look at the responsibilities of the MNCs CEO's and that of the GLC CEOs !
I think the CEO earns more than 50k because I remembered reading a business report a few years ago that the TNB CEO salary + bonus + allowances (excluding other non financial benefits) is about RM1.2M annually ...ReplyDelete
Be fair to them. TNB has shown a big profit and will certainly continue to show good profits. As a corporation they have achieved their KPIs. So TNB's top management deserve a big pay increase. Thanks to all the contributing rakyats and the BN govt for presenting them the profits.ReplyDelete
Income tax mesti byk giler punya?ReplyDelete
Agak2 depa nie bayar ke x?
i am sure the wage increase was done way before the fuel price increase...ReplyDelete
i was told that our MAS turn around CEO received a job offer elsewhere almost 5 times his current salary... I'm sure his done something right in turning MAS from red and by offering him the increase just right to stop him from going...
i believe the wage increase is justified to avoid them leaving the current post... Not sure if we have capable replacement or not... Unless you want Mr LGE to sit there lorrrrr...
By the way... it will not be backdated!!! effective 1st july...
- Scouser -
This is not something uncommon.. a lot of other GLCs get heavy paychecks among their employees, even 9 months bonus...ReplyDelete
The Gov should set a minimum wage rate for all employees in this country to meet the rising costs of living like Western countries. This rate should be adjustable and reviewed every month, for instance.
If the Gov claimed don't have money, we can't do anything.. but then again, why 100% pay rise for TNB CEO and CFO ?
Just yesterday I wrote a post - "Who benefits from the oil price increase?" and number 2 on my list were the GLC boys... so I am not surprised by this news. Read it hereReplyDelete
Please be informed guys.. The chairman of TNB Board of Director (Tan Sri Leo Moggie) will definitely approve the 100% salary of these both Che' Khalid (CEO) and Izzaiddin (CFO). DO you know why???? Because CEO has approved the project worth more than RM35mil direct nego to Michael Kalum Leo Moggie (who is the son of the Chairman) for TNB Scada project. The company is InControl Tech Sdn Bhd (414225-K) formerly known as VA Tech Sdn Bhd which was never disclosed by The Chairman in TNB's Annual Report that required by KLSE listing and s131 of company Act.
Although InControl has been doing the business with TNB for many years prior to Leo Moggie's appointment. But it is not after his appointment as the chairman , InControl appointed his son to become the director of Incontrol Sdn Bhd on 26 Aug 2005. During the last 2 years, the company has been awarded with more than RM30mil worth of contracts (one of them contract number TNB 413/2005 for supply and delivery of a SCADA system worth of RM15mil) by CEO and until today still award them through Direct negotiation for few other contracts. The chairman until today, still has not been disclosed for the beneficiary of the contract in TNB annual report. and Both The chairman and CEO signed off the report.It was told by TNB staff that his son keep on pushing and pressure to give other projects thru his father's position and with assistance of CEO.
This is only one case that TNB under new Duo team (CEO and CFO) have done. Go and check more about SComi direct nego done by them foe the fleet of the coal worth of RM20mil per month and of course Remote Meter Reading worth RM90 mil though the company xyz not the lowest price and bragged abt it how CEO has helped him to the market.. Spread the truth to the market abt CEO and CFO...
There are so many talks about all these in TNB.. just need to ask.. ALl the details will surge. Soon or later when the time is right, BPR will visit CEO and CFO when their contract are abt to expire..
Imagine if cut cut some of these things...ReplyDelete
Minister's entertainment allowance
Minister's utility bills - they should pay it for themselves..not us
The royalties entertainment...
Imagine how much the gov can save per year.... I don't want to calculate for it will break my heart...
saya rasa elok juga TNB kembali kepada kerajaan,like LLN dulu.Sekurang2nya sekarang,bila harga minyak turun balik,kembali semula ke TNB.
Going thru the comments, perhaps one point is missing is the comparison between what the CEO & CFO are/will be getting as compared to the other employees. Perhaps Bro Rocky can start and investigative journalism to find out the truth. A friend of mine who has a few friends in TNB has been revealing a few interesting happenings in TNB. One is the fact that the CA negotiation for the executives has been stalled because the CFO is not giving anything yet he is recommending apy rise for himself. Heard also that this has been going on for some time even upto the Industrial court (?). Then there was a senior employee who resigned because he was pasted to a place deemed as cold storage. This is now pending a legal action. Then also the stories of CEO and CFO bringing ion new chickos from outside at the expense of experienced internal talents with max pay but do nothing in the office other than tai chi. Some of these people keep disappearing from office. Of course they brag a lot. What about the deal on coal in Indonesia when it was messed up. The good guy there was sacked and paid compensation.... The point is if TNB is so good, making money and all then reward everybody. Not only the CEO, CFO and their parachute cronies. There is even stories on these people wives who can tell their husbands to act against the staff if they are not happy with the wives in the wife Association. The CEO's wife is running the Association like her own company - perhaps something like BALKIS?ReplyDelete
I pity those hard working TNB employees who get screwed left and right simply because they don't play to the gallery. The worst part, some of the high achievers were just pushed aside with paltry rewards not even to the set standard while they fiddle with the Bell Curve. These people however stay with TNB because they do not want to create problem against the Giants in the company who can be very personal!
Actually, our GLC CEOs do not get paid that well compared to CEO of many other big companies. It's just in this country people get paid peanuts. We are supposed to be an emerging middle class nation but we are very poor middle class. That explains all the brain drain that is happening to this country.ReplyDelete
As I see it, the GLC CEOs are here because they are doing national service. They could have worked elsewhere with higher paychecks.
And to dong-dong, please check your facts right before slagging off people. If you think you can do the job, go ahead and apply to work for Khazanah.
VIDEO : Tarif Elektrik Naik 26% , CEO TNB Naik Gaji 100%ReplyDelete
some ppl say that tnb's management only want to give 3% increment for staff for new collective agreement.Now gov say that TNB'S CEO has done a good job for TNB and he deserves 100% increment What a shame leader, he want to give peanut for his staff and yet he get hefty hike for his salary. Now dunia penuh dengan manusia yang tak tahu malu.ReplyDelete
I think TNB CEO & CFO deserved 100% salary raised, after having carried out a lot of saving for TNB. Among which were:ReplyDelete
- controlling rigidly TNB staff spending. For example, during meetings only mineral water were provided.
- tightening all expenditures related to staff welfare. Sikit-sikit kena CFO approval, tidak kalu boleh buang kerja...
- denying promotion to TNB staff - except cronies & bringing chikos from outside to strategic position in TNB so that easier to control.
- having introduced DID (Dedication, Intergrity & Disiplin) to TNB. Well ..... CAKAP TAK SERUPA BIKIN ..... See above comments.
Hopefully that two goonies will leave TNB & TNB will be back to its good old days.
Azman, TNB staff
Shortly after the general election, a special representative from a political party is appointed as a Government Relations Officer (GRO) in TNB and payed RM6,500! Only states that fell to the opposition has this personnel. He doesn't seem to do anything and answers to no one in TNB. His actual boss lies in the political field.ReplyDelete
The pay for a staff (exec and non exec) in TNB is much much lower than the peers in the government field. Collective Agreement negotiations are stalled due to pay increment issue. Staff asking what is fair but CEO says only 3%!! Yet the CEO and CFO can have a 100% increment which amounts to RM1.2mil a year and this doesn't include possible remuneration as what was given last year (extra RM500k).
those two guys are 'muka tak tahu malu'... mereka sanggup hidup enjoy dengan penganiayaan ke atas staff TNB yang lain. i don't understand, how PM can approved this crazy increment without considering current situation...ReplyDelete
Sesungguhnya, TNB's staff is suffering under Che Khalib's management... Staff kerja bagai nak mati, CEO yg dapat nama... what the hell... this CEO never appreciate his performing staff.. what the hell..
Bravo to Rocky. Bravo to Minister Hishamuddin and UMNO Youth. The CEO and CFO concerned should be given show cause why they should not be sacked for the RM200mil+ losses TNB suffered out of the sale of the coal mine in Kalimantan instead of being offered the 100% pay rise at taxpayers' expense.ReplyDelete
Che Khalib is now getting RM1,107,280.00 anually. Luckily the raise is not approved. If not he'll be getting RM2.2mil anually!!!!