Wednesday, March 04, 2009

Shaziman Admits Bailout Intent

The Minister for Energy, Water & Communications has confirmed that not only will the Federal Government acquire the assets from the privatised companies at a higher price than what is offered by the Selangor Government, they will also be likely over the RM6.4 billion debt of these companies!

In an interview with Berita Harian two days ago, he said that:
...Syarikat konsesi juga ada pinjaman daripada bon dan sebagainya, dan jika mereka tidak mampu bayar pinjaman atau bon, ia akan beri kesan kepada syarikat serta menjejaskan imej industri pada masa akan datang.
I had wanted to raise the above point during the debate in Parliament today when the Minister was responding to the Selangor Water Restructuring issue. But he cut short his overall response (despite having plenty of time to spare) and refused to allow me to ask a single question. My colleagues, Charles Santiago (Klang) and Dr Dzulkifli Ahmad (Kuala Selangor) did manage to ask 1 question each where the Minister responded with evasive answers. But that was about it.

These privatised water companies in Selangor, Puncak Niaga Sdn Bhd, Syarikat Bekalan Air Selangor (SYABAS) etc., have obviously mismanaged themselves to a state whereby they are unable to repay the excessive amount of bonds which they have sold to the market.

Now they hold the state and government to ransom, by saying that water service quality will deteriorate if the Governments do not bail them out to the tune of billions, while at the same time, compensating them for future "loss of profits"!

And all the Minister wants to do? Protect the "image of the industry"!  At the same time, he tells us not to "politicise" the water issue so that they can bailout their UMNO cronies in peace.  He wish!


lan said...

crappy answer by crappy minister

amoker said...

It is just a nice big plan to bailout lousy companies who would otherwise be bankrup. How can they ask for future profits when they could not sustain any profits?

Donplaypuks® said...


Take a leaf out of UMNO/BN's book.

File a court action on the grounds that their moves are :-
1. Against Public Interest and fair commercial practice.
2. That Syabas etc have been in breach of numerous sections of the privatisation.
3. Abailout would be in breach of the concept of privatisation.
4. The Govt's stand that rates would go up in April is a red herring to protect cronies since the matter can be resolved easily by extending the deadline!

Stop the thieves in Govt at any cost from concluding a crony deal that would burden the Rakyat.

Unknown said...

just bunuhlah the rakyat sewenang-wenangnya like kugan.

Anonymous said...

Bloody thieving crooks!

Anonymous said...


as a taxpayer, can we sue the half-past-six minister who will deplete the treasury to enrich his crony?
the bloody bonds were raised to pay the dividends to the fat cat. Shaziman, we aint stupid!

anyway, to do an injucntion to stop this robbery?

Anonymous said...


gotta take the bulls by the horns.

BN will continue to feed this sort of cronies coz in return they will get the massive funding for ther dirty works. hit them where it hurts most, which is the funding.

wanna stop the funding for the Perak fiasco? I have a great plan. Its perfectly legal, non-violent but controversial; but like I say, is PR prepared to take the bulls by the horns

Anonymous said...

Keep up the pressure. I can't believe that it has to come to this. Shouldn't there be regular auditing of these organisations? The state government may be overruled with this very obviously disguised bailout, but why is it that it is powerless to perform audits on these companies considering that they are responsible for delivering services to the people of the state. The state government is duty bound to make sure that these services are provided for to the best of quality. As such, shouldn't the state government have the authority to poke around? I'd even go to the extent of doing 'spotchecks'!

Anonymous said...


Talking without using the brain.

Anonymous said...

I hope you are keeping a log of all the misdeeds of the current BN regime to remind the rakyat who had their (rakyat's) well being in mind for the next General Election,

It can't come soon enough but ... it is 4 years away and given the current impasse in Perak and defeats in by-elections, the BN is unlikely to call for an early election anytime soon,

Desides, the PM-in-waiting wants to sit at the apex, Lets see how many more cronies get enriched in the next 4 years. Oh ! Recession coming ? Susah la.

Anonymous said...

Blue team are sore losers starting from the top and it is has perpetuated to all levels in so many ways.Dirty,greedy & evil.Who doesn't know right?

Now even basic necessity like water, the Blulies (aka bullies) want to have a huge taking...not enough,meh over the years? They won't stop at anything, and nothing is ever enough. But this issue of water in Selangor (being an important state) is inviting trouble. A storm in the tea-cup. Sometimes we need the storm before the calm. I hope (although this will be a miracle) that good governence in the interest of the nation will prevail especially on those in the the decision making position which now 100% rests on the Minister of Works.

Dear Minister, please think of the millions of your countrymen you are helping versus the bunch who already have such fat pockets and already put shame to the industry and you want to join them? Our lives here are only temporary our PERMANENT lives are in heaven with God or..... Happiness is something money can't buy and neither is a ticket to heaven. Ask our tireles PR & DAP MPs, I am sure they are happier in the truest sense of the word vs. BeeN MPs...Knowing you have nothing to hide from God

Loh Peng Lam (羅 炳 霖) said...

The government should look into helping all companies, not selected few by using the billion Ringgit package to subsidize EPF contribution--company's portion. This will ease burden of companies during this period of uncertainties. It is also a hope that this move will reduce retrenchments. I am not sure how much it work out to be, perhaps they can look into 5%, i.e if the company is pay 11 % on EPF contribution they now pay 6% and remaining 5% top up by the government. As such, more people will get to keep their job, all companies will benefit from it, people will not loose their retirement funds.

Anonymous said...

in the end watever being said it is the rakyaat getting fleeced. when the company profit its their money, when its worn out the rakyaat take over...
its a win win situation for certain political groups

Unknown said...

Mr. Tony Pua,

Please make sure 'Rakyat Selangor' get free water and decrease the new tariff that will implement by 1st April 2009.

Investigate Top Management of SYABAS and contract. Why allowance Executive Chairman of SYABAS very highest???

Anonymous said...

Today ,We already have "Water-Concession(Water Bills)...We even have "Indah-Water Konsortium..."!

Don't tell us..One day, We shall have Air-Bill(Bil-Udara) then we have "Segar-Air Konsortium.." by entering into an "(Udara)Air-Concession" Agreements for the betterment & health of Rakyat Malaysia due to Air-Pollution Nationwidely....!

Anonymous said...

it look like pak lah will maintain the PM position. Najis going to has problem on this month.

and perak PAC now questioning the Zambry, the Zambry said the PAC not Fair..

Then how about their High court decision? IS THERE FAIR?

Anonymous said...


refer to

I am a non-Malaysian which resides in Malaysia for long enough to be familiar with the politics of this country. I’ve been actively giving my views in Dr. Hsu’s Forum.

I witnessed how Umno / BN was and is running the country. Just look back during Mahathir’s rule, the main 3 pillar of significant, namely Legislative, Executive & Judiciary were being raped by the Executive which resulted in Legislative & Judiciary no more an independent institution of their own. It is very clear, one does not need to be highly intelligent to understand what I meant here. The recent Perak fiasco, Lingam Video case, Altantuya,autopsy reports of Kugan, just to name a few, are the very few examples that reflect how sick is this country that I adopted.

I agree with Andrew’s points to a certain extent, but what he said about Penang DAP led government are just peanuts compared to what Umno / BN had done to the country. Their sins are far more deplorable that warrant Malaysian people to somehow ‘casting their votes blindly’ to Pakatan Rakyat. Only then, these Umno and their goons can repent truthfully their wrong doings to this beloved adopted country of Malaysia.

To Andrew, I appreciate your views, if they are of clear conscience without any malice or hidden agenda. Keep criticizing PR if they do wrong so that they can fine tune their inexperience in their administration. Your vote to Pakatan Rakyat is still needed to teach Umno / BN a lesson that they country has been raped by them for far too long. Let them realize and repent their wrong doing. Only then, democracy of this country can thrives on healthy 2-party system that emphasize on ‘morality’.

Malaysian people need to go all out to support Pakatan Rakyat, ensure both Federal and State governments go to Pakatan Rakyat in next General Election. If not, you can see the mess that we witnessed in Perak fiasco. Federal agencies are being used at their whim and fancy to hang them on to their powers at all cost.

To me, a Malaysian Outsider, Pakatan Rakyat should concentrate on disseminating this message of mine to all Malaysian people. You guys are at losing end going to your Judiciary to seek justice.


Anil, I will re-post this comment of mine in Dr. Hsu’s Forum, The Middle Ground and blogs that I am familiar with so that more people get what I commented. I have no other motive but to let Malaysia has the chance to regain its past glory.

Unknown said...

Let's & support MB Tan Sri Khalid & KDEB take over & manage SYABAS including Water Treatment company due to Free Water forever!!!

If not I'm afraid water tariff will increasing by next April.

Go MB Selangor!!! All Rakyat behinds you.

Anonymous said...


can argue till the cows come home.

the corrupt BN will just bulldose and save the cronies.

whats the game plan to scuttle the corrupt deal?

WY said...

Dear Tony,

I hope you have assigned one of your staff, dedicated on this issue. This is billions of dollars issue we are talking about here. If DAP blinks again, SYABAS will be bailed out at the cost of the taxpayers.

The govt (BN) is stupid to let a private company to hold such a strategic resource, not to mention giving them so much leverage. Last i know, SYABAS was owned by PKNS. No? How come the majority shareholder, being the state govt of selangor, can't have a bigger say?

Anonymous said...

i thought i am a gentleman, but when i heard what he said, i have o start using the sentence now....!

Kan Nin Na Hia

Unknown said...

As I know, SYABAS own by State Government only 30% and others belong to Private Company (Puncak Niaga),,, isn't ?? How did previous state government (BN) let's our Rakyat 'GOLD Resource' given to private company.

"Private = Making profit" and Rakyat SELANGOR suffer....

Nowdays, so many NGO company supported MB Khalid such as MTUC regarding takeover SYABAS and others company of water treatment.

P/S: Pakatan Rakyat, make it quick before 31st MARCH 2009. If not, Rakyat will pay higheeesssttt of water tarif.....

Unknown said...

Countdown about 12 Days to 1 April 2009, SYABAS maybe to increase currently tariff water!!!

Pakatan Rakyat do something to help Rakyats!!!

To Federal Government (KTAK) please give chances Selangor State Government to manage 'Water' by ownself :)