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Old March 3rd, 2009, 02:30 PM   #21
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'TNB may save RM59m yearly from bond repurchase'
Published: 2009/02/19

AMRESEARCH Sdn Bhd estimates that Tenaga Nasional Bhd's (TNB) (5347) interest charge could be cut by RM59 million annually, or 1 per cent of its forecast earnings of RM3 billion for financial year 2010, with its bond repurchase exercise.

Yesterday, TNB said it bought back and intends to cancel US$165.3 million (RM605 million) of debt that will mature in 2011.

It also announced plans to buy up another US$135 million (RM494 million) of bonds in the next six months, in an effort to cut its exposure to US dollar debt.

AmResearch analyst Alex Goh said the estimate of savings in interest charge was based on the assumption that TNB would be able to acquire the other notes at a yield of 5.5 per cent.
"These exercises are TNB's pre-emptive moves to reduce its debts at favourable rates as yields on the 2011 notes have risen to 5.5 per cent as at February 12, from 4.6 per cent as at August 31 2008 due to the global financial crisis," Goh said.

AmResearch maintains its earnings forecast for the financial years 2009 to 2011 though, as the reduction in TNB's debt due to its improving cash flow has already been factored in its estimates.

"We remain positive on TNB due to the continued weakness in the prices of coal, the government's move towards a more transparent tariff mechanism and its high stock liquidity with strong liquidity with strong local institutional support," Goh said.
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Old March 3rd, 2009, 02:30 PM   #22
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TNB sheds some light on debts
Published: 2009/03/02

Tenaga's debts of RM24 billion may have jolted the uninitiated few. Group chief financial officer Datuk Izzaddin Idris tells Zuraimi Abdullah when and how the utility giant amassed the debts.

TENAGA Nasional Bhd (TNB)'s (5347) huge debts were not accumulated only recently. Rather, they were largely amassed since the group's listing in 1992, its accounting chief said.

"Since we were listed in 1992, we borrowed money to continually invest and improve our system," said group chief financial officer Datuk Izzaddin Idris, who joined the utility in 2004.

TNB's loans grew to RM24 billion as of November last year, from RM22 billion as of August 2008.

"In just three months, our loans grew by RM2 billion due to the strengthening of the US dollar and yen against the ringgit," Izzaddin said.
Slightly more than half of the RM24 billion debts are denominated in the dollar and yen, he said, adding that its cash flows are just enough to finance capital and operating expenditures.

As of November last year, the dollar loans accounted for 27.5 per cent of TNB's total loans, the yen loans were 22.8 per cent, while the rest were in ringgit.

Explaining the current gearing position, he said at one stage, TNB could not borrow domestically as the local debt capital market was not fully developed then.

"Planting up is a long gestation business. At that time, we could not borrow more than seven years, so we went overseas and tapped on markets that could offer 10-year, 30-year and even 100-year loans.

"But the problem with the foreign loans, particularly the US dollar-bonds, is that we cannot pre-pay even if we have the money. The yen loans are more unique as they carry 1-3 per cent interest rate per annum with longer tenure of 40 years but these loans were arranged as part of the Japanese government assistance programme. So, they are difficult to restructure. Besides, over a 40-year period any losses are translational or book losses."

Izzaddin said the group's medium-term loan repayment concern is the maturity of a US$570 million (RM2.1 billion) bonds in 2011, although before that, in 2009 and 2010, it would have to pay RM1 billion each worth of loans.

"The RM1 billion worth of loans due each in 2009 and 2010 is not a problem for us because we can pay from our cashflow or local borrowings. But in 2011, we need to repay about RM3.7 billion worth of borrowings including the US$570 million bonds," he said.

Why then didn't TNB hedge? The ringgit is not traded overseas.

"Hence, there is no ready or liquid market for such long-tenure hedging. If there were any, the deal would likely be expensive," he added.

Izzaddin warned that TNB would continue to suffer financially and this could affect consumers and even the banking sector if key costs beyond its control keep spiraling upwards.

TNB's cashflow is adversely affected by the rising uncontrollable costs like coal procurement and capacity payments to independent power producers (IPPs), including for the standby power it does not require.

This is compounded by the lower demand for electricity due to the global economic and financial crisis,

TNB is facing a financial crisis of its own, he added. Hence, any requests for lower power tariffs will not be possible unless its operating cost is reduced.

Izzaddin stressed that he sees no end in sight to TNB's present financial setback and the inability to offer lower tariffs for consumers if the uncontrollable costs continue to trouble the group.

Uncontrollable costs accounted for close to 80 per cent of TNB's total operating costs of RM21 billion in the year ended August 2008.

In FY2008, 60 per cent of group operating costs went towards payments to IPPs and the cost of procuring the coal supply from Australia, Indonesia and South Africa as well as gas from Petronas. Payments to IPPs alone amounted to RM8.7 billion, of which RM4.8 billion was attributed to capacity payments.

For FY2009, Izzaddin said, TNB will pay up to RM5 billion in capacity payments to the IPPs and this will continue to rise in the future. These payments are basically fixed payments to the IPP regardless of any slowdown in demand growth or how much energy is dispatched from the IPPs.

"The capacity payments will cover IPPs' annual debt repayments, both principal and interest, as well as shareholder returns," he said.

He argued that if the IPPs were concerned about their bonds, TNB should be worried too over its RM24 billion debts. Its failure to service loans would affect not just the powerhouse but the whole sector and the banking industry.

"Instead of the RM12 billion debt owed by the IPPs, it is a RM36 billion problem with the RM24 billion debt owed by TNB. If TNB's finances collapse, it might even affect the domestic banking sector. TNB will not be able to pay (the IPPs) the capacity payments if our finances are strained," he said.

Izzaddin pointed out that TNB also needs to fork out some US$1 billion (RM3.70 billion) to import up to 10 million tonnes of coal this year, at a price projected at US$100 per tonne.

"Coal has become an expensive source of electricity. In the mid-1990s, as part of the fuel-diversification policy to reduce the over-dependence on gas, the government decided that coal should be an option to fuel up power plants.

"Coal was then traded at US$20-US$25 (RM74-RM93) per tonne and all of the industry's requirements are imported. So, we are subjected to global prices on the international market," he said.

"Everyone needs to immediately address and not ignore the elephant in the room - our fuel and IPP costs.

"The big issue is, can we continue to provide a reliable supply of electricity if our finances are strained? The good news is that for the time being, the cashflow is still coming as we collect about RM2 billion every month from customers. But there will come a point when the loans must be repaid."

For now, TNB has to shoulder all costs, especially the uncontrollable ones until the IPPs are willing to review their power purchase agreements and a reprieve in the form of a transparent tariff framework is introduced.
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Old March 16th, 2009, 10:30 PM   #23
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Tenaga is most profitable firm in Khazanah's stable
Published: Monday March 16, 2009 MYT 3:54:00 PM
By LESTER KONG

KUALA LUMPUR: Tenaga Nasional Bhd was the most profitable government-linked company (GLC) under Khazanah Nasional's management in 2008 with a profit of RM2.594bil.

Deputy Finance Minister Datuk Kong Cho Ha said Bumiputra Commerce Holdings Bhd was the second most profitable at RM1.952bil for the same fiscal year.

Replying to Datuk Baharum Mohamed (BN - Sekijang), he said they were two of the eight Khanazah-managed GLCs that made profits in 2008.

The rest were Telekom Malaysia Bhd (RM791.9mil), TM International Bhd (RM497.98), Malaysia Airports Holdings Bhd (RM305.2mil), Malaysia Airline System Bhd (RM244.31), Proton Holdings Bhd (RM184.55mil) and UEM World Bhd (RM80.37mil).

To a supplementary question from Baharum, Kong said the Government was satisfied with the perfomance of the GLCs' respective management and staff and disagreed with Baharum's allegations that they were unsupportive of the Government.

"I disagree with the statement that the CEOs of the GLCs do not support the Government.

"They have carried out their duties and responsibility as expected of them to maintain the companies' performance.

"In their work, they have also held corporate social responsibility programmes for the public," he said.
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Old March 23rd, 2009, 05:18 PM   #24
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One Million Low-Income Earners Benefit From TNB Power Rebate, Says TNB
March 23, 2009 19:51 PM

KUALA LUMPUR, March 23 (Bernama) -- The government's move to absorb RM53.26 million in the form of rebate for consuming electricity costing RM20 and below has immensely benefited low-income earners since the rebate took effect from Oct 1, 2008 till last month, Tenaga Nasional Bhd (TNB) said today.

In February alone, a total of 1,010,107 consumers benefited from the rebate offer introduced in the 2009 Budget, the power utility giant said in reply to a Bernama query.

When tabling the budget, the government announced the rebate for domestic consumers whose monthly electricity bill is RM20 and below. The offer will remain in force from Oct 1, 2008 till end of this year.

However, owners of residence with zero kilowatt hour (for instance vacant premises) are not eligible for the rebate, TNB said.

Terengganu emerged as the state to receive the highest percentage of rebate in February at 29.99 percent, followed by Kelantan (29.94 percent) and Kedah (24.3 percent).

Pahang (21.71 percent), Perlis (20.77 percent), Perak (18.20 percent), Negeri Sembilan (16.83 percent), Melaka (16.35 percent), Penang (15.51 percent), Johor (15.22 percent), Putrajaya and Cyberjaya (14.21 percent), Selangor (12.72 percent) and Kuala Lumpur (12.65 percent)

TNB said the government paid the rebate amount directly to the company.

The rebate amount would be printed in the monthly electricity bill of eligible consumers and stated that the government has paid the rebate amount.

TNB said consumers eligible for the rebate but are still receiving electricity bills should verify the total payable amount to know if they have to make any payment.

-- BERNAMA
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Old March 30th, 2009, 04:18 PM   #25
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Earth Hour: TNB Records 550mw Drop
March 30, 2009 20:59 PM

KUALA LUMPUR, March 30 (Bernama) -- Although the Earth Hour campaign last Saturday resulted in electricity consumption dipping by 550 megawatt, Tenaga Nasional Berhad (TNB) is not complaining.

Rather, TNB accepts the hour-long campaign which began at 8.30pm, was for a good cause.

The 550 megawatt is equivalent to 14 million fluorescent bulbs of 40 watt each.

"While this minor fall in demand will result in a slight shaving of our revenue, we accept that Earth Hour is for a good cause," said TNB president/chief executive officer Datuk Seri Che Khalib Mohamad Noh in a statement here today.

He said, during the one-hour period of the energy conservation initiative, TNB staff were extra vigilant, in the event of untoward operational snags.

"Everything went on very smoothly and we were able to respond to the slightly lower demand, without any operational glitch.

"Demand peaked almost rapidly at 9.30pm, to follow the normal Saturday evening demand pattern," added Che Khalib.

He said TNB was surprised by the support and appreciation demonstrated by many of its customers on the worldwide Earth Hour campaign.

-- BERNAMA
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Old April 16th, 2009, 11:46 AM   #26
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TNB swings to net profit of RM675m in Q2
By Goh Thean Eu
Published: 2009/04/16

Tenaga Nasional Bhd (TNB) (5347) swung to a net profit in its second quarter and it expects demand for electricity to pick up for the rest of the year as the worst is probably over.

The country's biggest utility made a net profit of RM674.6 million for the quarter to February 28, thanks to a more stable coal price and lower foreign exchange (forex) losses.

It reported a net loss of RM944 million in the first quarter mainly because of a RM1.4 billion forex loss caused by a weak ringgit.

Chief executive officer Datuk Seri Che Khalib Mohd Noh doesn't expect a repeat of the large forex loss. Things are also looking up as demand for power probably reached its bottom in February.

Electricity demand, which grew by 7.7 per cent during its fiscal first half, fell by 3.2 per cent in the first half of 2009. The decline was mainly driven by lower demand from the industrial sector.
"Second quarter was quite frightening for us. Demand for electricity went down quite drastic as a result of the Christmas, New Year and Chinese New Year holidays.

"But, we could see that from the March numbers, which we have been monitoring on a weekly basis, the figures are pretty stable," he told a media briefing in Kuala Lumpur yesterday.

TNB doesn't expect demand to fall more than 3.2 per cent this fiscal year and if the government's stimulus packages are rolled out quickly, demand could even match 2008 numbers.

Revenue for the second quarter grew by 15 per cent compared with the same quarter last year. The firm expects revenue to grow by around 19 per cent for the full year, as a result of the new tariff rates.

TNB has also secured all of its coal supply for this fiscal year that ends on August 31 2009. However, the price for almost a third of that is not fixed and is linked to an international index.

Coal prices, which averaged US$53.9 (US$1 = RM3.62) per metric tonne in its first half last year, almost doubled to US$100.9 per metric tonne in the first six months this year.

"We expect coal prices to average US$85 per metric tonne for the full year," he said.

TNB plans to meet the Energy, Green Technology and Water Ministry at the end of this month to discuss the country's electricity roadmap and power purchase agreement renegotiations.

"I think the minister needs time to settle down and it is only fair for us to give them that time," said Che Khalib.
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Old April 23rd, 2009, 05:40 AM   #27
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TNB 575th Biggest Company In The World
April 22, 2009 20:19 PM

KUALA LUMPUR, April 22 (Bernama) -- Tenaga Nasional Bhd (TNB) has surged 50 spots to rank 575th biggest company in the world in this year's Forbes Global 2000.

In a statement here today, TNB said this was achieved despite the challenging environment it faced like sluggish growth in electricity demand, unstable fuel prices and weaker ringgit.

Its president/chief executive officer, Datuk Seri Che Khalib Mohamad Noh, said the latest listing was a continuous recognition of the excellent progress the company has made since 2004 in terms of cost management and value creation.

TNB was ranked at 681 in 2007, an increase of 91 positions from 2006 and surged 56 spots to 625th place in 2008.

The list, which was introduced in 2004, uses an equal weighting of sales, profits, assets and market value to rank companies according to size.

TNB said of the 19 Malaysia companies listed in Forbes Global 2000 this year, it was ranked third with sales of US$7.58 billion, assets of US$20.58 billion and market value of US$7.54 billion.

-- BERNAMA
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Old May 23rd, 2009, 05:56 AM   #28
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TNB to boost hydro power
By Shahriman Johari
Published: 2009/05/23



The national utility plans to build two hydro-power plants in Lebir and Nenggiri, Kelantan, that may cost up to RM2.8 billion

Tenaga Nasional Bhd (TNB)(5347) plans to build two hydro-power plants in Kelantan that may cost as much as RM2.8 billion as it seeks to increase its renewable energy capacity, a senior company official said.

The national utility is in talks with the Department of Irrigation and Drainage (DID) to share the cost of developing the plants, which could have a combined generation capacity of 700 megawatts (MW).

These would also probably be the last sizeable hydro plants in Peninsular Malaysia, which does not have enough major rivers to generate a lot of electricity.

Malaysia wants to raise its renewable energy capacity as it seeks to deal with the volatile costs of fuel like natural gas and coal.
Unlike thermal plants that need to burn fuel such as coal to produce power, hydro plants have zero fuel cost as they use water instead.

The proposed plants will be located in Lebir and Nenggiri, said Mior Shahar Mior Nazrin, general manager for TNB's hydro division.

"We have done a field study. Now, TNB is discussing with DID to develop (the plants) jointly," he told a group of reporters during a visit to the Kenyir hydro-power plant in Terengganu yesterday.

TNB is proposing to share the cost of the plants because DID is already working on plans to widen the Kelantan river and build a dam as part of its flood mitigation works, Mior Shahar explained.

TNB currently operates 15 hydro-power plants in Peninsular Malaysia. Collectively, they make up only about a tenth of Peninsular Malaysia's total installed capacity.

The utility is also in the midst of developing hydro-power plants in Hulu Terengganu as well as Ulu Jelai in Pahang. They have passed environmental assessment studies and TNB is calling for bids to develop the plants after pre-qualifying a group of contractors.

The Hulu Terengganu plant will have 250MW capacity, while the Ulu Jelai plant will have an installed capacity of 372MW.

Peninsular Malaysia's biggest hydro-power plant is in Pergau, Kelantan, which has an installed capacity of 600MW. However, it will be eclipsed by the Bakun plant in Sarawak which is being built.

The Bakun plant will have a total installed capacity of 2,400MW and the bulk of power generated will be transmitted to Peninsular Malaysia using the world's longest undersea cables.
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Old June 1st, 2009, 08:39 AM   #29
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Kincir Angin by TNB @ Pulau Perhentian
http://fotoweb.bernama.com/fotoweb/p...odifytime_desc
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Old June 2nd, 2009, 05:56 AM   #30
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The future looks nuclear
Published: 2009/06/02

TNB is pushing for the use of nuclear energy and it wants a decision around 2013 to head off a power crunch in 2025. Shahriman Johari takes a look at the nuclear issue and the concerns Malaysians have over the energy source.

IN THE 1970s, Tenaga Nasional Bhd (TNB) had actually examined nuclear power as an option after oil prices surged when the main producing countries decided to turn off the tap. But Malaysia found gas in Terengganu and the government decided to use that as the main source of fuel for the power sector. That was about 20 years ago and in another 10 years or so, we would have used up all of that gas.

It was probably deja vu for TNB last year when gas and coal prices shot through the roof. The volatile price of those commodities has raised concerns over Malaysia’s ability to secure enough fuel supply that would also help to keep electricity prices at a reasonable level.

Now, TNB is actively pushing for the government to use nuclear energy and it wants a decision around 2013 to comfortably head off a power crunch sometime in 2025. SHAHRIMAN JOHARI takes a look at the nuclear issue and the concerns Malaysians have over the energy source.


-------------------------------------------------------------------------------------------------------

If Malaysia wants a reliable source of power that is also reasonably priced in the future, all roads lead to nuclear energy.

Supporters say that it is an option that cannot be discounted because other alternatives may either be too expensive or unreliable in terms of supply security.

"We have to prepare for the nuclear future," said Tenaga Nasional Bhd (TNB) (5347) head of energy unit, Dr Zamzam Jaafar.

Malaysia has a long-term plan to become a developed nation by 2020. But that is also the time when natural gas earmarked for the local power sector is expected to run out. This is a problem because since the 1980s, the country has been relying on heavily subsidised gas price to keep electricity rates low.

Cheap energy cost was one of Malaysia's trump cards as it went through an industrialisation drive in the eighties. Steel companies like Perwaja was born while the national car company, Proton, was also set up at the same time. Foreign investors were also wooed to Malaysia, thanks in part to cheap electricity.

Now, national oil company Petronas has warned that gas supply to the power sector after 2019 would be uncertain.

Gas for the power sector comes from fields offshore Terengganu. While Malaysia has other gas sources in Sabah, these are being sold (at higher market prices) to countries like Japan under contracts that run for around 20 years.

"Our concern now is Peninsular Malaysia where we will have very little gas by 2020," Zamzam told reporters at a briefing in Terengganu recently.

If the country wants to continue using gas, it will have to import at much higher international prices, which means that electricity prices will have to rise as well. Natural gas futures in New York trade around RM13 per unit currently while the local power sector now pays a fixed RM10.70 per unit. (This price was the result of a hike in July 2008. Before that, the power sector enjoyed a price of RM6.40 per unit for a long time).

But the gas price follows the oil price, which means that buyers will be in for another rude shock when the oil price rises again.

When oil reached a record US$147 (RM513) a barrel in July 2008, the gas price also followed suit and was trading around US$13.60 or RM47.60 per unit.

Another option would be to use coal to generate electricity. Unlike gas, Malaysia imports almost all of its coal needs and the price of coal has also proven to be volatile.

In the six months between September 2008 and February 2009, TNB's coal costs averaged US$100 a tonne, double what it paid in the same period a year ago.

The country would also have to double coal imports to cover the loss of electricity powered by natural gas.

It would also mean that Malaysia will be over reliant on coal, a fuel source that's not exactly good for the environment. In addition, future sites of coal plants will be harder to find because the plant needs to be close to a port to lower transportation costs.

What about generating power from the rivers of Sarawak? TNB has estimated that Sarawak rivers have the potential to generate some 28,000MW of electricity. That's about 12 hydro electric plants the size of Bakun.

However, the most that can be transported to Peninsular Malaysia is 10,000MW.

Base load is best

There are certain rules that need to be observed in the electricity industry. The main reason for that is to ensure the security of supply.

One rule is having spare capacity of about 20-30 per cent, which protects the system against sudden surges of demand.

Another rule of thumb is the need to have base load power or power from the most reliable and cheapest sources, making up 60-70 per cent of the peak demand capacity. Currently, Malaysia's base load comes from gas and coal-powered plants. The rest will come from other more expensive plants or those designed to provide power quickly during peak times.

"If TNB must ensure reliable and reasonably priced electricity, the proven base-load nuclear option must not be precluded.

"With uncertain future supply and volatile fossil fuel prices, nuclear power could be viewed as a proven insurance base load power generation option to prevent runaway gas and coal prices," Zamzam said.

TEPCO, the Japanese equivalent of TNB, has nuclear as its base-load power, with its 53 nuclear plants. Nuclear is also the base-load option in South Korea, making up 40 per cent of the country's generation capacity.

source: http://www.btimes.com.my/Current_New...BNUKE/Article/
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Old June 2nd, 2009, 06:30 AM   #31
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TNB should opt for gas-powered plant: SAPP
Published on: Saturday, May 30, 2009

Kota Kinabalu: Tenaga Nasional Berhad (TNB) should consider building gas-powered power plants so as to address the decades-long energy problems all over the State, said Sabah Progressive Party (SAPP).

Gas-fired powered plants is the best option to overcome the perennial problems, as it is eco-friendly and cheap, said SAPP Information Chief Chong Pit Fah.

"Sabah is the major natural gas producer in the country so there is no reason not to consider building such plants here rather than wasting funds with a coal-fired power plant," he said in a statement, here, Friday.

He said a coal-fired power plant could invite many problems like sickness to the people residing in the surrounding areas as well as the workers.

Chong further said that coal supplies are also another factor, as importing the commodity is not economical.

He said the people would certainly not understand TNB for favouring a coal-fired power plant.

"We could save lots of money with gas-powered plants because gas supply is readily available. But huge sums could go down the drain with a coal-fired power plant as we have to rely on imported coal," he said.

He said there is also no reason for the Federal government to channel all the gas from Sabah to Sarawak for processing at Bintulu and later export it to Japan.

He said some portion of the processed gas should be channelled back to Sabah for power plant usage, which could save the government's coffers.

"Moreover we do not have to worry about gas supplies because we are the producer. Coal supplies could lead us to a major headache if prices escalate and exporting countries like China and Indonesia cannot fulfill demands," he said.

He said the people here are also wondering about the reasons behind TNB's reluctance to channel energy from the Bakun dam or Murum dam, both in Sarawak, to Sabah.

He said TNB should explain to the people why it can commit itself to supply Bakun hydro power to the peninsula and Kalimantan but cannot commit anything to Sabah.

He added that TNB's refusal to commit showed the Barisan Nasional (BN) government was discriminating Sabah in all matters, and energy supply is one fine example.

He also welcomed TNB Chairman Tan Sri Leo Moggie's recent statement that the utility company is now in talks with Petronas and relevant government agencies to initiate the development of a gas-powered power plant in Kimanis.

Chong said the parties involved should speed up the gas-powered power plant project as Sabah in dire need of consistent and cheap energy supply.

He said the TNB could later build another three gas-powered power plants in Sabah with two plants sited at the East Coast to address energy problems over there.

He also called on TNB to speed up the construction of the two hydro potentials in Sabah, namely the Upper Padas and Liwagu rivers.

He added that both hydros, which could generate huge energy, are more reliable and safer compared to a coal-fired power plant.
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Old June 16th, 2009, 01:09 PM   #32
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TNB completes 2nd phase of power project
Published: 2009/06/16

TENAGA Nasional Bhd (TNB) has completed the second phase of the 750MW Tuanku Jaafar Power Station Rehabilitation project in Negeri Sembilan.

The project was to upgrade the power station by demolishing the existing, aging and inefficient high gas emission conventional natural gas /oil fired plant (360MW) and replacing it with a 750MW facility.

The new plant is both highly efficient and environmental friendly.

Both the first phase -- a 750MW gas fired combined cycle plant completed in 2005 -- and the second were financed by Japanese loans of 102.9 billion yen through the Japan International Cooperation Agency (JICA).

JICA in a statement today said that the 1,500MW output under the two phases constitutes 14 per cent of TNB's total generation capacity with a supply volume of 3.2 million households.

JICA also said by using domestically produced natural gas, the combined cycle generation plant built under the second phase project, had achieved the highest generation efficiency among the thermal power plants in Malaysia.

According to JICA, the project had offered many business and job opportunities during its implementation, with 43 companies benefiting via participation in the supply of facility equipments.

"In addition, 60 per cent of the workers engaged in the construction works were Malaysians," it added.

A ceremony to mark the completion of the second phase of the project was held today. -- Bernama
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Old June 17th, 2009, 01:51 PM   #33
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TNB completes Tuanku Jaafar power plant rehabilitation
By Zuraimi AbdullahPublished: 2009/06/17

TENAGA Nasional Bhd (TNB) (5347) has completed rehabilitating the Tuanku Jaafar Power Station in Port Dickson, Negri Sembilan, one of the country's oldest power plants, at a total cost of RM4.2 billion in two phases that started in 2002.

President and chief executive officer Datuk Seri Che Khalib Mohamad Noh said of this, RM3.4 billion was for the construction and generation system, while another RM800 million was for the transmission system.

The power plant now boasts of two new 750 megawatts (MW) gas-fired combined cycle power units that TNB officials said are the most efficient among the existing thermal power plants in the country.

With a combined capacity of 1,500MW, the plant will account for 12 per cent of total electricity demand in Peninsular Malaysia, covering some 3.2 million households.
It has an efficiency rate of 56 per cent - the highest among all thermal power plants in the country including from independent power producers - and reliability level of over 90 per cent.

"At the time of its establishment (in the early 1960s), the Tuanku Jaafar Power Station was considered the queen of all power stations," TNB chairman Tan Sri Leo Moggie said at a ceremony to mark the completion of the second phase of the rehabilitation project in Port Dickson yesterday.

"It reigned supreme as the station with the largest generating capacity in the country for the best part of a decade between 1964 and 1974," he added.

Leo Moggie said the rehabilitation project had benefited from a special soft loan package offered by the Japanese government.

A total of 102.9 billion yen (100 yen = RM3.66) were given for the two phases, according to Japan International Cooperation Agency (Jica). The first phase, called PD1 and completed in 2005, received 49.1 billion yen under the package. The remaining 53.8 billion yen loan, sealed in March 2000, was for the second phase or PD2.

The 102.9 billion yen accounted for nearly 10 per cent of the yen-denominated loans given out by the Japanese government to Malaysia to finance infrastructure projects in the country, which totals 917.1 billion to date, Jica noted.

The power sector received the biggest cake, with a share of 46.6 per cent of the overall accumulated loan value.

TNB is paying between 0.75 per cent and 1 per cent interest rate per year over 40 years repayment for the loans, signed as early as 1999. The deal was sweetened with a 10-year grace period from making a payment.

Leo Moggie said the power station started at an eventful time of the country's history on May 13 1969 with an initial installed capacity of 4x60MW. In 1977, an additional capacity of 3x120MW was installed.

Due to its comparatively lower efficiency and uncompetitive power generation costs, the old plant was not economically viable to continue operation. The older units were decommissioned in 2000 and subsequently the remaining units were decommissioned in 2004.
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Old June 23rd, 2009, 03:10 AM   #34
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The future looks nuclear
Published: 2009/06/02

TNB is pushing for the use of nuclear energy and it wants a decision around 2013 to head off a power crunch in 2025. Shahriman Johari takes a look at the nuclear issue and the concerns Malaysians have over the energy source.

IN THE 1970s, Tenaga Nasional Bhd (TNB) had actually examined nuclear power as an option after oil prices surged when the main producing countries decided to turn off the tap. But Malaysia found gas in Terengganu and the government decided to use that as the main source of fuel for the power sector. That was about 20 years ago and in another 10 years or so, we would have used up all of that gas.

It was probably deja vu for TNB last year when gas and coal prices shot through the roof. The volatile price of those commodities has raised concerns over Malaysia’s ability to secure enough fuel supply that would also help to keep electricity prices at a reasonable level.

Now, TNB is actively pushing for the government to use nuclear energy and it wants a decision around 2013 to comfortably head off a power crunch sometime in 2025. SHAHRIMAN JOHARI takes a look at the nuclear issue and the concerns Malaysians have over the energy source.


-------------------------------------------------------------------------------------------------------

If Malaysia wants a reliable source of power that is also reasonably priced in the future, all roads lead to nuclear energy.

Supporters say that it is an option that cannot be discounted because other alternatives may either be too expensive or unreliable in terms of supply security.

"We have to prepare for the nuclear future," said Tenaga Nasional Bhd (TNB) (5347) head of energy unit, Dr Zamzam Jaafar.

Malaysia has a long-term plan to become a developed nation by 2020. But that is also the time when natural gas earmarked for the local power sector is expected to run out. This is a problem because since the 1980s, the country has been relying on heavily subsidised gas price to keep electricity rates low.

Cheap energy cost was one of Malaysia's trump cards as it went through an industrialisation drive in the eighties. Steel companies like Perwaja was born while the national car company, Proton, was also set up at the same time. Foreign investors were also wooed to Malaysia, thanks in part to cheap electricity.

Now, national oil company Petronas has warned that gas supply to the power sector after 2019 would be uncertain.

Gas for the power sector comes from fields offshore Terengganu. While Malaysia has other gas sources in Sabah, these are being sold (at higher market prices) to countries like Japan under contracts that run for around 20 years.

"Our concern now is Peninsular Malaysia where we will have very little gas by 2020," Zamzam told reporters at a briefing in Terengganu recently.

If the country wants to continue using gas, it will have to import at much higher international prices, which means that electricity prices will have to rise as well. Natural gas futures in New York trade around RM13 per unit currently while the local power sector now pays a fixed RM10.70 per unit. (This price was the result of a hike in July 2008. Before that, the power sector enjoyed a price of RM6.40 per unit for a long time).

But the gas price follows the oil price, which means that buyers will be in for another rude shock when the oil price rises again.

When oil reached a record US$147 (RM513) a barrel in July 2008, the gas price also followed suit and was trading around US$13.60 or RM47.60 per unit.

Another option would be to use coal to generate electricity. Unlike gas, Malaysia imports almost all of its coal needs and the price of coal has also proven to be volatile.

In the six months between September 2008 and February 2009, TNB's coal costs averaged US$100 a tonne, double what it paid in the same period a year ago.

The country would also have to double coal imports to cover the loss of electricity powered by natural gas.

It would also mean that Malaysia will be over reliant on coal, a fuel source that's not exactly good for the environment. In addition, future sites of coal plants will be harder to find because the plant needs to be close to a port to lower transportation costs.

What about generating power from the rivers of Sarawak? TNB has estimated that Sarawak rivers have the potential to generate some 28,000MW of electricity. That's about 12 hydro electric plants the size of Bakun.

However, the most that can be transported to Peninsular Malaysia is 10,000MW.

Base load is best

There are certain rules that need to be observed in the electricity industry. The main reason for that is to ensure the security of supply.

One rule is having spare capacity of about 20-30 per cent, which protects the system against sudden surges of demand.

Another rule of thumb is the need to have base load power or power from the most reliable and cheapest sources, making up 60-70 per cent of the peak demand capacity. Currently, Malaysia's base load comes from gas and coal-powered plants. The rest will come from other more expensive plants or those designed to provide power quickly during peak times.

"If TNB must ensure reliable and reasonably priced electricity, the proven base-load nuclear option must not be precluded.

"With uncertain future supply and volatile fossil fuel prices, nuclear power could be viewed as a proven insurance base load power generation option to prevent runaway gas and coal prices," Zamzam said.

TEPCO, the Japanese equivalent of TNB, has nuclear as its base-load power, with its 53 nuclear plants. Nuclear is also the base-load option in South Korea, making up 40 per cent of the country's generation capacity.

source: http://www.btimes.com.my/Current_New...BNUKE/Article/
TNB aims to start nuke plant by 2025
Tuesday June 23, 2009

JOHOR BARU: Tenaga Nasional Bhd (TNB) is looking at starting its first nuclear power plant by 2025 once it gets the go-ahead from the Government.

Its nuclear energy head Dr Mohd Zamzam Jaafar said the country had to prepare for a nuclear future as present energy sources faced uncertainty amid volatile prices and scant resources.

He noted that by 2019, current gas resources would have dwindled and the country would need to double its import of coal, making nuclear energy technology the best option to go forward.

“We will be working with the Korea Electric Power Corporation on a nuclear pre-feasibility study,” he said

Dr Zamzam said the cost of a nuclear plant would vary according to the design, with the Chinese design for a 1,000 MW plant costing US$2bil (RM6.9bil), a Russian one for 2bil (RM9.9bil), and a US one for US$4bil (RM13.9bil).

The cost for research and feasibility could be around RM2mil, he told a media briefing on conventional and alternative energy technologies in Terengganu.

At present, TNB’s power generation is a mix of gas (about 50%), coal (35%), hydro power (14%) and oil (more than 1%).

Dr Zamzam noted that nuclear power was more competitively priced in terms of electricity than other energy resources.

“Nuclear power plants have low radiation exposure,” he said, adding that most plants had a target radiation level of 0.05 millisievert per year, the same radiation as a person exposed to for a single X-ray examination.

Dr Zamzam said nuclear power plants also used less land than hydro plants and were more stable compared with alternatives like wind and solar energy.
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Old June 23rd, 2009, 03:17 AM   #35
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Two TNB projects at tender stage
Tuesday June 23, 2009

JOHOR BARU: Two of Tenaga Nasional Berhad’s (TNB) planned hydroelectric plants in Hulu Terengganu and Ulu Jelai, Pahang, are now in the tender stage.

TNB general manager (hydro) Mior Shahar Mior Nazrin said the two projects were targeted for completion by 2015.

Ulu Jelai will generate 372 megawatts while Hulu Terengganu will provide a further 250 megawatts of electricity, he told reporters in Terengganu, after a media tour of the hydroelectric dam in Kenyir recently.

Mior Shahar said two other projects in the pipeline, in Lebir and Nenggiri, Kelantan, were expected to be the last major hydroelectric plants in the country as there were no more major rivers from which TNB could generate electricity.

The plants were expected to have a combined capacity of around 700 megawatts.

TNB, he said, was in discussions with the Drainage and Irrigation Department to jointly share the cost of developing the plants.

He said TNB was shifting its dependency on natural gas and coal to hydroelectricity, in line with the Government’s emphasis on greener energy. Hydroelectric power provided 6% of the country’s energy requirements, with gas contributing 70% and coal, 24%.
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Old June 26th, 2009, 12:42 PM   #36
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Tenaga gets new CFO
Published: 2009/06/26

TENAGA Nasional Bhd, Malaysia’s state-controlled electricity provider, named Mohamed Rafique Merican bin Mohd Wahiduddin Merican, 44, as chief financial officer effective August 17. - Bloomberg
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Old June 26th, 2009, 12:43 PM   #37
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Bila plak TNB will got new HQ Tower dah tunggu lama..!



> http://www.skyscrapercity.com/showthread.php?t=755766
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Old June 30th, 2009, 07:24 AM   #38
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TNB To Develop Solar Energy As Alternative Source Of Power
June 29, 2009 20:50 PM

KUANTAN, June 29 (Bernama) -- Tenaga Nasional Berhad (TNB), through its subsidiary TNB Research Sdn Bhd, has started research on developing solar energy power that will be produced competitively cheaper so as not to burden users.

TNB president and chief executive officer, Datuk Seri Che Khalib Mohamad Noh said, solar energy power is seen as an alternative source that will be more relevant for the country's need.

"Wind energy electricity production is expensive due to the equipment used and Malaysia's geographical position which is not favourable. It is not viable to depend on wind energy, as such, solar energy is considered very relevant but cost of operating solar energy is very high.

"As such, TNB, together with a number of agencies, are conducting studies to identify a technology that will enable the production of solar energy at a lower cost and one that will not burden the end users," he told reporters after launching a business journal published by Uniten, here Monday.

He added that TNB together with the government was also developing nuclear power as another alternative source of power.

Che Khalib said TNB allocates between RM700 million to RM800 million a year for the maintenance of cables, TNB stations and sub-stations throughout the country.
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Old June 30th, 2009, 08:22 PM   #39
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TNB completes 2nd phase of power project
Published: 2009/06/16

TENAGA Nasional Bhd (TNB) has completed the second phase of the 750MW Tuanku Jaafar Power Station Rehabilitation project in Negeri Sembilan.

The project was to upgrade the power station by demolishing the existing, aging and inefficient high gas emission conventional natural gas /oil fired plant (360MW) and replacing it with a 750MW facility.

The new plant is both highly efficient and environmental friendly.

Both the first phase -- a 750MW gas fired combined cycle plant completed in 2005 -- and the second were financed by Japanese loans of 102.9 billion yen through the Japan International Cooperation Agency (JICA).

JICA in a statement today said that the 1,500MW output under the two phases constitutes 14 per cent of TNB's total generation capacity with a supply volume of 3.2 million households.

JICA also said by using domestically produced natural gas, the combined cycle generation plant built under the second phase project, had achieved the highest generation efficiency among the thermal power plants in Malaysia.

According to JICA, the project had offered many business and job opportunities during its implementation, with 43 companies benefiting via participation in the supply of facility equipments.

"In addition, 60 per cent of the workers engaged in the construction works were Malaysians," it added.

A ceremony to mark the completion of the second phase of the project was held today. -- Bernama

Last edited by nazrey; June 30th, 2009 at 08:30 PM.
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Old June 30th, 2009, 08:23 PM   #40
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Ingress clinches RM61.9m TNB deal
Published: 2009/07/01

AUTO parts maker Ingress Corp Bhd (7112)has clinched a RM61.9 million contract from Tenaga Nasional Bhd (TNB).

The project involves a diversion of cable to a power station and the supply, building and commissioning of an auto transformer.

Work will take between 13 and 24 months

Last edited by nazrey; June 30th, 2009 at 08:30 PM.
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