Thursday, July 25, 2013

malaysiakini has NOT asked "Why Have Taxpayers been MADE to PAY RM10 billion EXTRA for three POWER PLANTS?"

I believe it was Dr Mahathir who remarked that corruption is so bad now it is above the table.
One major contributing factor is that many deals are not via public tender but via direct negotiations.

Thus it is not surprising as without competitive bids, there is plenty of room for errors and commissions. Even after the RM600mil Scorpene scandal, the authorities have not improved transparency - in fact, things appear to have become worse. Now it is not only done over the table but even reported as news in the national press!
The first section relates to the purchase of power generating plants over two years under the Star article 1MDB in RM1.2bil deal.
The second report was done in China under the Star article
Genting sells Suzhou power plant for RM22.34m

All these deals are being finalised by 2013 and thus the purchases make interesting reading; especially since Genting is involved in two of the deals, namely Mastika and Suzhou.

This analysis is different from the two earlier ones and for this table, the percentage of the company purchased is converted to the effective MW purchased.
Thus if 50% of company is bought, then the amount paid is for 50% of the plant's MW as no other details are given.
The column "Actual MW bought" totals the MW of the 3 Power Stations paid by 1MBD and the total is 5704MW for RM12,000 mil.

Now if we analyse the Suzhou deal made by Genting, they could only get RM0.35mil per MW.
If we apply this rate of RM0.35mil per MW to the 1MBD deals totalling 5704MW, the total cost should only be RM1985Mil and not the RM12000mil.

So what has happened to RM10billion of taxpayers funds?
It certainly looks rather fishy without further justifications.  


This comment has been removed by a blog administrator.
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H J Angus said...

comments made were not relevant to the topic