Wednesday, December 24, 2008

Power ding-dong

In 2004, TNB sold its 40 per cent stake in Kapar IPP to Malakoff for RM1.7 billion. Now it wants to buy back that stake.
For how much?
RM2.9 billion!

Kow kow ma! Siapa kena pow here?! Ada Santa Claus ke?

According to the Business Times' report here, Malakoff wrote to the MoF about its plan to sell the stake back to TNB and the MoF subsequently asked TNB to consider it. I am assuming the article meant MoF II Nor Mohamed Yakcop and not MoF Najib Razak.
In any case, we notice that the MoF has been rather busy lately with headline-grabbing corporate proposals, including its proposal that Sime Darby takes over the IJN. Some said it was also the MoF's idea to give Sime Darby the RM1.7 billion job to construct an airport in Labu, which is NOT part of a government's 50-year masterplan on airport development. More on this later, perhaps ...

40 comments:

Anonymous said...

"I am assuming the article meant MoF II Nor Mohamed Yakcop and not MoF Najib Razak."

This is to protect yourself?

And you are having an agenda to even out with MOFII?

What are your real motives sir?

Arasu

Chow Kit Cowboy said...

Nor Mohd Yakcop been busy shuffling things around before he leaves. "What's in for everybody?", you should ask.

The last few months of any lame duck government should be critically analysed as that's where and when things "happen". (wink, wink)

Then it's happy retirement.

Khairulnizam MK said...

Bro Rocky,

This is another SICKO saga in our govt. I don't know how much ACTUAL money will be spent again and again to compensate those 'auta' businessman.

May Allah save us from Najib Tun Razak and his bunch of blood suckers.


p/s:

http://money-matters-talk.blogspot.com/

Anonymous said...

Mereka berpengaroh,,so they can do what they like,,,lihat saja who are the Board of Directors of Sime Darby and Malakoff..!!!

Kita yang bodo lihat sajalah,,!!!!!

Apa bole buat we elect them to lead the Nation,,,,,!!!


-BODO2-

Anonymous said...

"Thursday, December 11, 2008

Who Will You Weep For? "

The above is a posting by anaksihamid.

Looks like the answer is pretty obvious, - us.

Clearly the bleeding machinary has started to grind. How much more are we going to lose ? How much ? Malaysia my Malaysia !


manamanu.

ajipp said...

wow

kenapa najib tak salah....kalau dulu orang lain buat silap pun pak lah kena....kj pun kena jugak...betul2 hipokrit

setahu aku malakoff ni kepunyaan kawan mahathir iaitu en syed mokhtar al bukhari? ada perancangan mahathir tak untuk merompak duit tnb ni?

Anonymous said...

MoF II is 10% of everything.
Take your abacus.

apanama said...

Sounds like Pantai Holdings to me, but then again I think we are kind of getting used to such stupidity ... arent we?
Bro, wonder what's da status of the fuel-subsidy pay-out via Pos Malaysia is now? Is the subsidy scheme still on till March 09... why ah?
The dumb decision was made when fuel price was at 2.70, but now its at 1.80, so why da subsidy now?
I thought stupidity had its limits ... think I'm wrong bro.

Anonymous said...

ajipp

You sound exactly like a moron! Yang merompak tu si-lembik la .. why you so the tolol brader?


abahkau.

Anonymous said...

That is why Pak Lah could not get the ministers to declare their assets.

donplaypuks® said...

SM has just spent $1.7b cash for Johor Airport and land to avoid share valuation scrutiny by the SC.

What better way for SM to replenish his coffers than to once more gang bang TNB for an unwanted excess capacity IPP?

When will the croneys stop raping TNB and the nation? We are sick of it!!

http://donplaypuks.blogspot.com

Anonymous said...

errr....rocky, unless I've been reading the attached article (from Business Times) wrongly, I thought the RM2.9b price tag was only an estimation / speculation by analyst based on assumption of the price of a new coal plant. It was not stated anywhere that this price has been agreed by both parties. You should quote articles more clearly, after all there are many readers here and elsewhere who tend to jump to conclusion without checking the sources and reading more on the issues, i.e. cepat menggelabah. Having said that, I wont be surprised if anyone is going to take advantage of this planned sales. cheers!

-galapagos-

monsterball said...

Buy cheap sell dear..go round and round...earn billions commission legally is the art of corruptions by UMNO for years.
Some go to personal..some to party and some to selected cronies ...to show they are helping Malays.
One said I hate Malays...far from the truth.
I hate racialists from UMNO and BN.......most of all...balls carriers from MCA and Gerakan.
Those two have no principles in life.
UMNO members are mostly half past sixes and braggarts..so those idiots..we can identify easily as crooked munafiks.
But sadly.......huge majority of UMNO members are being brainwashed...programmed and used with the powerful race and religion dirty politics.
But the power of truths and love for the country..is more powerful than play acting..insincere greedy scums of the earth politicians.
Monsterball will talk till I drop dead!! Eat your hearts out..Monsterball haters.......hahhahahahaha
But I forgive all of you.....because you are mostly half past sixes...lover talk as Sons of the Lord of the Jungle....only one race...but me....no fear..no migrate..stay put in my beloved country. What can you do??..hahahahahaha

Anonymous said...

As far as it stands, it is all Najib's doing.
Either he is clueless and incompetent or else he is such a greedy person. So kick him out.

burstaxon said...

Bro,
Some people would just refuse to see the problem. I think once Tun Mahathir is gone, they'll be at a loss to understand that there are others who have been shafting Malaysia.
Unfortunately, some of them, have been doing it since Tun's time and lucky enough to be still having their hands in the till, undetected or otherwise, until now.

rocky said...

a scam and the rakyat will pay at the end of the day. and najib just can't say it is not him, he is the boss now. we buggers are paying higher rates to TNB even with lower oil prices ...thanks to the great IPP deals under Dr.M and these kind of wonderful deals by MoF to ensure a few fellows get rich...what to do UMNOPutra policy, rakyat kena kantoi while making us less competitive globally.

so now do we agree MoF doesn't have the best interest of the nation or the rakyat?

Anonymous said...

I see this and other similar sales and acquisition as making hay while the sun shines, as the power that be is seeing a black hole in the next general election. Hornbill.

Anonymous said...

Dear sir

Lain kali kalu ada apa posting tentukan nama disebalik badan koperat itu di highlight sikit. Ini untuk memudahkan kami berfikir. Contohnya Sime Darby , orang belakangnya Musa Hitam . Malakof Syed Bokhary , CIMB adik Najid , Scomi ,ACM Libra , KJ dan Kalimullah Hassan dan lain lain. Baru kita tahu percaturannya. Saya yang tiada pelajaran pun pandai buat business macam ni; jual 1.7 billion dan beli balik 2.9 billion .Siapa untung siapa rugi ni dengan berbillion.Guyang kaki le. IJN yang dah menempah nama dan untung nak diambil alih oleh Sime darby. Apa dia orang tak nampak cara lain hanya mencari jalan singkat untuk untung. Apa kah ini cara "Melayu" lebih tepat lagi orang UMNO mengurus perniagaan ? . Cari jalan mudah. Saya ada satu cadangan , sekarang ini barat sebok dengan 'global warming'. Masaalahnya dikaitkan dengan penebangan hutan di Malaysia. Suruh SimeDarby , Malakoff buat cadangan kepada Amerika untuk menghijaukan padang pasir dan tanah lapang yang tidak berp0kok diAmerika. Cari lah keuntungan disana dan bawa balik ke Malaysia. Baru nampak cekap dan bagus. Ini nak ambil alih IJN. Saya pun nak sepanggu (Satu Share) dah tentu untung macan Malakof jual balik IPP KAPAR ni.

Haronjanor

ChengHo said...

Why Malaysia need MOF 1 and MOF 2?

Anonymous said...

monsterball said...

Buy cheap sell dear..go round and round...earn billions commission legally is the art of corruptions by UMNO for years.
Some go to personal..some to party and some to selected cronies ...to show they are helping Malays.
One said I hate Malays...far from the truth.
I hate racialists from UMNO and BN.......most of all...balls carriers from MCA and Gerakan.
Those two have no principles in life.
UMNO members are mostly half past sixes and braggarts..so those idiots..we can identify easily as crooked munafiks.
But sadly.......huge majority of UMNO members are being brainwashed...programmed and used with the powerful race and religion dirty politics.
But the power of truths and love for the country..is more powerful than play acting..insincere greedy scums of the earth politicians.
Monsterball will talk till I drop dead!! Eat your hearts out..Monsterball haters.......hahhahahahaha
But I forgive all of you.....because you are mostly half past sixes...lover talk as Sons of the Lord of the Jungle....only one race...but me....no fear..no migrate..stay put in my beloved country. What can you do??..hahahahahaha

6:36 AM



Bodek Besar,

So you carry balls for DAP? Barua DAP?

Since you realized that you cannot go to any better country than Tanah Melayu ........
.. you want to chase the malays to the jungle? Election 13th eh?

Fuck you! Barua DAP!

-tukang perati

Anonymous said...

This is called sucking out the gravy train before it is derailed in the next general election.

Alibaba

Anonymous said...

It's goes to show the current government is not so confident of the next GE. They will cream out everything they can just in case they become the next Opposition.

Dhahran Sea said...

Rocky,
Looks like najib is also outsourcing his thinking to some oxbridge hingusan... sounds familiar?

Anonymous said...

to monsterball
6.36 am.

blah blah blah...and when you die I will pee and spit on your grave....

monsterball haters

Anonymous said...

whats the NTA before and after,
projected cashflow before and after?

Anonymous said...

Arasu MOF2 is a real MF.

He succesfully pulled the wool over the previous MOF's eyes. Not a big achievement. That fellow was a real dud.

Now MOF2 is trying to hang on to MOF's cojones and pull the wool over his eyes too.

Take it from me Arasu, MOF2 is a MF.

Al-Sadr said...

"Unprecedented times takes unprecedented moves , and gentlement these are the unprecedented times...." need I say more?

So throw your hands up in the air and empty your pocket please ;-)'coz this is a daylight robbery!

Anonymous said...

To monsterball
your beloved country?..tongsan ke??

brad

Anonymous said...

rocky,

why insinuate against MOF II only? what about the counterparty? juicest deals go to this great guy during Mahatir era and continue after a short hiatus under the sleepy PM. and he flips it to MMC (sure man man ci or die slowly now for MIs) for humonguous profit. Remember MMC was once a solid (though sleepy) co controlled by PNB before it went to him in a rather sweetheart deal.
I await to See how you are going to hantam this great fella.


Bangsa Malaysia

Anonymous said...

Hai Monsterball,

You banyak bising sana sini. Itu Projek Pengukuhan Sistem Kawasan Tengah (CAR)apa macam. Settle itu dulu baru bincang topic yang baru.

Janji sama orang Kampung Terentang, itu bukan ker rasuah pilihanraya? Itu Kampung ramai Chin Peng punya kuncu dulu. Thun 80'an BLACK AREA. Sekarang mau kasi blackout satu Negara.

Kamu jaga sikit. Blackout, bisness aku nanti akan akan SAMAN kamu semua!! Banyak rugi lor, atas sikit ader PERINDUSTRIAN besar, tak jalan mesin 24jam, semua kami akan SAMAN..

Sekarang mau main bola sana sini macam kamu juga. Janji 1bulan beres, sekarang????? Main bola tennis, bola golf, monsterball, itu saja kerja kau orang.

First financial quarter sudah bye bye, apa kamu sedang buat asyik tempit sana sini? Setakat duk makan hasil titik peluh maintain projek orang lama saja ker?? Projek Babi saja ker yang priority. Monsterball tak cukup makan PORK ker?

Kami tunggu your 1st year financial performance dengan penuh kesabaran. Nah! keadaan recession tak lama lagi, masih menjaja AIR LIUK saja ker?

Tongkang

Anonymous said...

Not much substance in the comments posted in here. But it looks like the prisoners have taken over the jail.

Bailouts, payouts,mergers, takeovers, buyouts, bankrupcy,winding up etc are all part and parcel of business.

When the business gets bigger, the complexity gets bigger. In fact, gigger they are, harder they fall.

Action leads to re-action. In-action leads to action and the cycle continues to go round and round. If you don't do it, others will.

In a nutshell, that's life and it sure wasn't meant to be easy.

A GOOD MAN DOES NOTHING.

enuff of this shit said...

Bro,

It's not so much TNB wanting to buy the coal plant but Syed Mokhtar wanting TNB to buy it from him.

Syed Mokhtar ... the name sounds familiar, doesn't it?

No need to protect the old guard lah bro.

In essence, semuanya sama ... Mahathir, Pak Lah, Najib, semuanya sama. And you can even throw in Anwar skali.

It's the UMNO perpetuated way of doing things.

Yang ultimately kena bayar through their noses tak lain tak bukan kita jugak, bro.

That's the sad thing about it.

Whatever your agenda is, jangan lupa ramai orang susah dalam negara ni.

And when I say orang susah, I don't just mean orang miskin. You don't need to be miskin to undergo kesusahan and kepayahan hidup in this country.

Gaji naik, tapi cost of living naik lebih.

Over the last 10 years, we Malaysians have gotten nowhere in our daily struggles.

That's the truth and you know it.

And I don't see that changing unless we change the way we do things.

Cara lama tak boleh lagi,bro.

If we continue with the old ways, then I really fear for my children.

Sikit hari lagi -- about 10 years from now -- my kids will enter adulthood.

They and that is all that matters to me and my wife.

I will do everything to ensure that they don't have to live under a fucked-up government such as the one we are living in now.

That's all that matters to me.

ground crew said...

Bro,

The Air Asia airport was supposed to be somewhere near Tanjung Malim or Labu.

Due to Selangor fell to PR, it's was decided ( easier ) to be in Labu which also has Mohamad Hassan as MB.

So the LCCT is going to be a history just like Subang airport.

Anonymous said...

Occassional Beer-y at the Club

I'm so happy you made it clear you didn't think it was Najib who's behind all these bad deals! Implicating Najib in anything bad might thin your chance to be the next Editor-In-Chief of NST! I'm praying for you Rocky! Hope you get the job! Many have been talking about it! Teach Pak Lah a lesson! Bring Tun back into the light please!

monsterball said...

The more they fuck me......me ..means..I am right.
Yes Siree....TRUTH HURTS!!
Glad I am back!
Glad Rocky call me.."my dear monsterball"
Sour grapes...idiots!!

Anonymous said...

monsterballs
12.02

What else can a bastard like you say when he got phucked upsidedown ? Just smile and bear the pain.
Hey --I heard China is looking for old bastards like you to work in their factory ! Oh --I forgot --you cant speak chinese ---no wonder you r still around ---faceless, listless, languageless,nameless, shameless and most of all , brainless !

obviously the truth on you has no effect on you cos youre too dumb!

I will still spit on your grave. ptuii!!

monsterball haters .

ChengHo said...

hi guys,
Malaysia is a free country monsterball is
free to express he or her opinion
UNLESS if you are in China the cybercop already catch ya.

Anonymous said...

rocky, you forgot about JIMAH. When TNB complains that IPP enjoy more and more, our beloved goverment award to royal family another IPP. Hidup IPP!!!

zamri sunway semenyih

Anonymous said...

zamri,

rocky did not forget who actually awarded the bulk of the IPPs and we the ordinary citizens are paying thru our noses for it now. but, he wouldnt lift a finger to write the name of the person coz he thinks this person is God's gift to Malaysians.
Well, for Badawi and his gang of thiefs who are no different from this person, they are viles. See the difference, Zamri


Bangsa Malaysia

Anonymous said...

This latest episode reminds me of what TS Ani Arop said: "TNB will go bankrupt soon if IPP deals are not renegotiated" for which he paid dearly in that his contract was not renewed. Much later after Mahathir's resignation, when asked abt why TNB needs to pay expensively to IPPs, he said, "Ask our former PM" to which Mahathir was reported to be unhappy at the so-called cynical reply.

frm: siapa makan lada