Friday, 13 January 2012

Asgardian Magik

Weird one this:

Tenaga Nasional Bhd, Malaysia’s biggest power producer, received an advanced payment of RM1 billion from the government on behalf of state-owned Petroliam Nasional Bhd as compensation for additional costs arising from a shortage of gas supply, CIMB Group Holdings Bhd said in a report today.

Imagine that.

Never mind that Petronas was recently reported to be in a general disagreement with Tenaga over the whole gas shortage issue but, Hey Presto!, the Government chips in.

Read : “on behalf” technically means that it is NOT from Petronas’ coffer. Or is it?

(Am really wondering where our Government is churning out all this money from. Couple of billions here, there and everywhere in between. What’s with all the RM500 extras for households earning less than RM3,000 per month and more.

Aren’t we in budget deficit or something?)

There’s more in fact: Bloomberg says that a CIMB Analyst says - without the latter attributing from where he got this one from - that Tenaga may get another RM1 billion from the government within this financial year ending August.

There you go.

That said, RM2 billion technically is not a whole lot of money for the Government to be so murah hati: but hold on here; are we talking about the Gomen’s money or Petronas money here?

Or is it the same thing that the Petronas money is basically Gomen’s money? (Not the other way around, though, mind you).

Sometime last year from I cannot remember when, my monthly electric bill went up by some 7%.

Yep, I’m one of those who is guilty of using excessive electricity to power my internet, aircond unit (no “s” there, please note), fridge, the occasional Astro viewing, laptop charging, washing machine etc.

It is a substantial 7% hike for me and from what I gather, this month’s onwards I will kena another 1% for some Green thingy initiative for using more than RM70++ worth of electricity every month. Maybe, or maybe not: we shall see.

In the meantime, Tenaga is like bleeding money.

Why in heaven’s name is there a monolith of a power generation project constructed way out there in the Sarawak wilderness is best known to those who concocted the project in the first place.

For a muslim, one should therefore be thinking that there in a less than Barakah element in all these income that the country is earning, no?

Maybe: I shall leave this question to those who are way much more knowledgeable than me to ponder.

In the meantime, pay we shall do.

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