Tenaga Nasional Bhd's president and CEO, Che Khalib Mohd Noh, or CK, has been hearing some bad news from the utility giant's troubled Indonesian subsidary Tenaga Coal International Ltd.
They included a possible lawsuit by the Indonesian partner Robert Priantono Bonosusatya, unauthorized withdrawals amounting to millions of US dollars from the company's accounts, police reports and security threats facing employees, unauthorised coal sale to a third party, frequent advances to the company's directors, etc.
Tenaga's losses due to divestment in this sick baby could reach a quarter of a billion ringgit.
Another red blot on CK's KPI.
Rocky!
ReplyDeleteFor some strange reason we think our ringgits grow on tree. A lot of investments have gone awry, starting with when we tried to corner the property market in Hong Kong and lost(including a life, remember BMF when a Malay execuitive found murdered), and when we tried to corner the silver market, when Sanusi Junid tried to invest in something involving Makuasa or something, and when Bank Negara tried to dabble in the money market and ended up loosing millions, and then Petronas going into the Russian petroleum market saying "if we want to be a global player we have to invest billions" it reads "we can take uncalculated chances and what the hell it is not my money". Hassan Marican with his deadpan face told reporters. And now TNB is loosing millions in Indonesia and what are we to do about it, well Pak Lah as the CEO of this country you better behave accountable and be transparent enough to tell the rakyat whats going on with our money and how it is being spent!