TENAGA NASIONAL DID NOT GET TO "BAIL OUT" 1MDB
Conflicting jurisdiciton in Edra ownership decision, A Voice, 9 Nov
.. So why did Treasury Secretary (KSP), Tan Sri Dr Irwan Serigar Abdullah write the letter to Energy Commisssion? Does he not know the jurisdiction of EC? Or someone directed him to write to EC on the expectation that the Board of EC will oblige?
Economists debate over Edra Energy acquisition, The Mole 9 Nov
... Why should we give our energy sector to foreign companies? I suggest it to be given to Tenaga Nasional Berhad (TNB). We must have total control of the energy generation.” - Dr Zulkifli Senteri, Binary University
I don't usually agree with YB Rafizi Ramli on anything. In fact, I usually disagree with him on everything. But his latest statement on why the Government should not, must not and cannot allow foreigners to buy 100 per cent of 1MDB's Edra Energy, I have to agree. I wish it was someone else saying it but it was Rafizi who said it, so be it.
Important thing is, as Rafizi says, no foreign company must be allowed to have all of the power assets of 1MDB.
For once, he's talking"... I will not hesitate to start a nationwide campaign to defend the country's energy sector from being opened up to foreign companies, for this will have a major impact on the future of the rakyat and country.
"I advise Najib to clearly state that he will not scrap the cap on foreign equity ownership in the energy sector in order to help 1MDB to cover its debt hole." - Rafizi Ramli, Foreign control over power assets to save 1MDB? Nov 6
Clap, clap. Push comes to shove, I will give my moral support for Rafizi to start the campaign to defend Edra Energy from being taken 100 per cent by the foreigners. Heck, if the campaign is about ensuring that ALL of Edra must remain in the hands of Malaysians, I will even walk with Rafizi!
But Rafizi needs to get real. His numbers with regards to Edra Energy are way, way off. That's the thing about this young PKR politician: he's so in a hurry that he ditches good old intel and research. Rafizi may have his heart in the right place but sometimes I think he main tembak buta saja.
The RM8 billion "ceiling" he was talking about, for example, is so ridiculous. I'm sure Rafizi has heard that the foreign bidders for Edra Energy were offering to buy at more than double his RM8 b ceiling, without blinking an eye-lid. You see, the bidders know what they are paying for. For the foreigners, the ringgit's weakness makes it extra cheap for them. Plus they know very well that the IPPs are going to give them back instant returns to the tune of RM1 billion a year, according to some estimates, from the operations of the half a dozen or so foreign IPPs in the Edra stable.
I don't know who's trying to waive the cap on foreign ownership of the country's national power assets but it sure ain't Najib Razak, as Rafizi's insinuating.
The Prime Minister is the man responsible for (or guilty of) taking back the IPPs in this country from the Anandas, Yeohs and Bukharys so that they can be regularized under one local entity, so why would he now want all that to go into the hands of foreigners?
I should think that Najib and Rafizi are, actually, on the same page on this one!
As these guys are: