Puncak Niaga Holdings Bhd (PNHB) Executive Chairman, Tan Sri Rozali Ismail gets paid RM5.1 million in director's fee/salary as per the 2007 Puncak Niaga Holdings Berhad annual report. It's well within the Top 10 highest paid directors in Malaysia.
According to Malaysian Business, he's also the 33rd richest man in Malaysia, after successfully securing the water privatisation deals in Selangor, under its subsidiaries, Puncak Niaga Sdn Bhd and SYABAS Sdn Bhd.
When asked by reporters about his pay package, he had only this to say, "...If they want professionals to run the company, they will have to pay." Ooooh....ouch!
Now he wants the Federal Government to pay much more for "his" water concession which was granted to PNHB for a song (he rejected Selangor Government's offer), while at the same time, also asking the Government to take over all the companies' bond and loan obligations amounting to RM4.1 billion in total due to ever increasing cashflow problems. (Note: PNHB incurred a quarterly loss (for the first time?) for its most recent Oct-Dec 2008 results.)
Well, looks like in Malaysia, even if you get monkeys to run companies, you will still have to pay.
17 comments:
this rozali is doing more harm than good to the people..imagine owning water treatment companies and become a billionaire!
pitty malaysians to pay to these so called professional!
It is a professional rip off.
Its okay if he owns the business or it is his own company.Or when such business is not a monopoly.
But he aint the owner and its not his company.
"Professionals"... u must be kidding..
Malaysia have a lots of "Professionals" in those privatization project indeed! All CEO are millionaires and billionaires but the monopoly's type of business still could loss tons of money.
very Pro!
A Felda boy of Gedangsa, a mediocre becomes millionaire without real effort but just being connected to a political party.
A graduate in Law from a local university, unable to articulate but good manipulator, just look at the response when asked and he said he is a professional!!! my foot!!!
Time to dig as to how this guy makes the million? Who is behind this daylight robbery?
Don't let them get away with more rakyats money.
In Malaysia, privatisation does not work for the good of the citizens. Instead of getting better service at lower costs, we usually get similar service at much higher costs.
Look at the water concessions, the toll highways, IPPs and others. Really sickening situation.
Please expose all these wrong-doings for the sake of the people and our future generations.
Adam
professional in sucking rakyat money...
i really pity the poor rakyaat and congratulate the idiots who supported privatization in this country
As usual, there is more than meets the eye.
Where there are sweetheart deals, you can bet there is a frontman who appears to own the majority stake... but your guess is as good as mine.
Halim Saad was a billionaire before, until his ex-wife demanded half of what he had and it became quite different in practice. Then the economy went down and his shares were worth less than his borrowings, I think.
Being CEO has its advantages, besides good remuneration. For example, there must be a good reason why some public companies have their own people in the procurement department.
Being a frontman has the further advantage of being able to borrow more than what you actually own because the banks look at what you have on paper. Just hope that the value of shares stay above what you borrowed.
He is the culprit who made the Felda settlers in Sungai Buaya suffer until now. He was the Land Broker under a company name "Corporate line". He is the proxy of Mat Taib. He got all this gold mine during Mike Tyson was MB Selangor- By anak soeharto
When the economy recovers, it will be inflationary and toll and water rates will be political bombs that will destroy any Najib's plan...
This is going to be a big winner for you, DAP and PR in general.. Keep it up....
Why the co. need to pay a monkey for such a high remuneration when in actual fact the monkey is just operating a monopoly business!
Rozali Ismail is not the only one. We certainly knew many more of such "professionals"
You have to pay them for their "professionalism" on our water, electricity, roads and etc.
Rozali Ismail a professional?
He's a politician who failed professionally in Myanmar, wasn't he?
Dear Tony,
Thank you for raising this water issue.we poor malaysian are seeing everyday how this bastards are robbing us blind and enriching thenselves in unholy ways at the expense of us poor rakyat.
They are so so hypocritical and fullof bullshit!
Water is an essential utility and look what they are doing to us...
Its so so disgusting..
please where is their conscience and humanity? i absolutely hate them.
Anon: I think the politician in Myanmar you are referring to is actually Tan Sri Razali Ismail, the UN special envoy to Myanmar and not this Rozali Ismail who named the building which houses Puncak Niaga after himself.
Hi Tony,
I've been looking for reference to this news, thanks. Compared to the 4.5% EPF may be announcing, Malaysians truly are being leeched dry.
So Tony, how does it feel to pay RM200k to Rozali after this great defamation? Must be hard for you to explain to people huh ;-) Learn your lesson Leng Chai
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