MMC May Propose $1.2 Billion Power Plant Expansion (Update1)

April 29 (Bloomberg) -- MMC Corp., Malaysia's second- biggest electricity producer, may propose to the government a plan to spend as much as $1.2 billion to expand its Tanjung Bin coal-fired power plant to avert a potential supply shortage.

A power reserve shortfall may emerge as electricity from the Bakun hydroelectric dam on Borneo island may not be transmitted to Peninsular Malaysia as planned, Hasni Harun, who will become MMC's group managing director on May 3, told reporters in Kuala Lumpur today.

"We need more power in the future, and since Bakun is not forthcoming here, this side of the region needs more power," said Hasni, chief executive officer of MMC's Malaysian operation. "We are hoping for the government to make a decision fast and invite all the independent power producers to submit a competitive bid to build additional capacity."

MMC's power unit, Malakoff Corp., may expand the 2,100- megawatt, coal-fired Tanjung Bin plant in the southern state of Johor by adding 800 megawatts, Hasni said. Malakoff owns six power stations with a capacity of 5,020 megawatts, equivalent to 25 percent of the generation capacity in Peninsular Malaysia, according to its 2009 annual report. In 2007, Malakoff was taken private by MMC.

Malaysia emerged from its first recession in a decade in the final quarter of 2009, spurring demand for energy. Electricity demand for the first six months ended Feb. 28 grew 8 percent from a year earlier, national power utility Tenaga Nasional Bhd. said on April 20.

Shares of MMC, controlled by businessman Syed Mokhtar Al- Bukhary, fell 0.8 percent to 2.44 ringgit as of 3:06 p.m. local time. They have gained 44 percent in the past 12 months.

"With power from Bakun not available for the peninsular, there is a risk that by 2015, the reserve margin will decline to below the 20 percent threshold," Hasni said.

The reserve margin is the capacity in excess of total national demand.

MMC said it expects "better earnings" this year after 2009 net income slid 57 percent to 236.71 million ringgit.

To contact the reporter on this story: Chan Tien Hin in Kuala Lumpur at
thchan@bloomberg.net
===
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MMC May Propose $1.2 Billion Power Plant Expansion (Update1)

April 29 (Bloomberg) -- MMC Corp., Malaysia's second- biggest electricity producer, may propose to the government a plan to spend as much as $1.2 billion to expand its Tanjung Bin coal-fired power plant to avert a potential supply shortage.

A power reserve shortfall may emerge as electricity from the Bakun hydroelectric dam on Borneo island may not be transmitted to Peninsular Malaysia as planned, Hasni Harun, who will become MMC's group managing director on May 3, told reporters in Kuala Lumpur today.

"We need more power in the future, and since Bakun is not forthcoming here, this side of the region needs more power," said Hasni, chief executive officer of MMC's Malaysian operation. "We are hoping for the government to make a decision fast and invite all the independent power producers to submit a competitive bid to build additional capacity."

MMC's power unit, Malakoff Corp., may expand the 2,100- megawatt, coal-fired Tanjung Bin plant in the southern state of Johor by adding 800 megawatts, Hasni said. Malakoff owns six power stations with a capacity of 5,020 megawatts, equivalent to 25 percent of the generation capacity in Peninsular Malaysia, according to its 2009 annual report. In 2007, Malakoff was taken private by MMC.

Malaysia emerged from its first recession in a decade in the final quarter of 2009, spurring demand for energy. Electricity demand for the first six months ended Feb. 28 grew 8 percent from a year earlier, national power utility Tenaga Nasional Bhd. said on April 20.

Shares of MMC, controlled by businessman Syed Mokhtar Al- Bukhary, fell 0.8 percent to 2.44 ringgit as of 3:06 p.m. local time. They have gained 44 percent in the past 12 months.

"With power from Bakun not available for the peninsular, there is a risk that by 2015, the reserve margin will decline to below the 20 percent threshold," Hasni said.

The reserve margin is the capacity in excess of total national demand.

MMC said it expects "better earnings" this year after 2009 net income slid 57 percent to 236.71 million ringgit.

To contact the reporter on this story: Chan Tien Hin in Kuala Lumpur at
thchan@bloomberg.net
===
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Attachment

I've been staying home 4 one week. Tired of sitting in front of tv 24/7. Tomorrow m gonna start my attachment. I hv 2 go there by bus. Be4 this I was thinking of driving but its kinda expensive if I were 2 park my car in d building. So better take bus.n its been ages since d last time I took bus. Lol

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Testing

No country in this world gives absolute freedom
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Morality

What is meant by morality.? Act, there's x single definition. Everyone has their own perspective on this. Law n morality r inter related. U can't separate both of these things. A society may suffer for moral crisis if morality is ignored. Qs arise should we legalize something immoral. Should we permit homosexual? Should we legalize gay n lesbian? Should we allow transsexual? No. We shouldn't. But those who believe in immorality say we should. It is justified to uphold so called supremacy of human right.

Their argument is that it becomes their right to be wht they wanna be. Human right is being used as a tool to justify immoral acts. they say the govt shall x interfere with their way of life. If that's the case, it definitely will amount 2 moral crisis.

If a society is led by an immoral leader, social aspect of the people d b affected as well. Immoral acts ll b made permissible n this is a threat to human civilization. Personally I don't trust a leader who believes in immorality.

What say u?


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What does pkr stand 4??

I'm wondering... Many people quit pkr everyday. Definitely something is rotten in the party. What makes me curious is those who actively involved at the time the party was established also quit. Its funny la. This party is a joke. It exists coz of anwar. I guess pkr stands 4 pakat keluar ramai2. Lol.

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Who will win

Who's gonna win 4 h.s by election. Ur prediction??
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