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Friday, January 16, 2015

Harga Tayar Jatuh, Khazanah, TNB, Petronas, GLC Kaya Raya

Bloga UMNO, ISMA, Perkasa sila ambil perhatian.

I was watching Channel News Asia yesterday morning which said the British economy was now facing a deflationary situation.  Prices are dropping. 

Lower prices could mean two things (at least).  Firstly there is weak demand in the economy. This means peoples' incomes are dropping or not increasing, meaning the productivity in the economy is negative. This is not a good situation. 

Or it could mean there is a greater production of raw materials and commodities on the market  which are pushing down prices and thus having a positive impact on lowering the cost of production. The oil price is one example. That would be a good thing. 

Yeserday I also ran this chart which shows that many countries will see a higher GDP growth caused by the drop in oil prices. The Philippines is predicted to grow by an extra 2% !! China is predicted to grow an extra 1%.  That is a huge amount of growth.



The loer oil prices are going to have a positive impact on many economies. 

Yesterday the news said that prices of tyres have also fallen substantially in Malaysia. Here is The Star

  • tyre prices have come down quite a bit
  • imported models also now within “reach”
  • prices have fallen by between 10% and 15% since September last year
  • industry for 30 years never experienced such a big drop in tyre prices
  • competition was getting more intense among tyre manufacturers 
  • no definite reason given for this
  • falling rubber prices
  • import duty for tyres will drop further starting April 1
  • imported tyres RM500 now priced at RM420
  • prices of several tyre brands had dropped
  • Motorist surprised to find out about the price drop
The key words are  competition getting more intense among tyre manufacturers .  

This is what happens when you have competition. The consumer benefits because producers immediately pass on savings (lower costs of production from lower oil prices, lower rubber prices, lower commodity prices etc).

In order for this to happen, you must have intense competition.

Now here is another piece of news. This one DOES NOT  have much competition:


Khazanah net worth increases by RM9.3bil to RM110.8bil
pre-tax profit RM3.2bil,  dividends RM900mil for 2014.
  1. mainly boosted by telcos, TNB, healthcare and Alibaba 
  2. Khazanah gained RM3.9bil from Alibaba
  3. TNB outperformer contributed RM4.9bil last year.
  4. Axiata and Telekom Malaysia Bhd contributed RM2.9bil 
  5. resilient businesses, dividend payout sustainable
  • aviation sector dragged down portfolio by RM3.1bil.
  • taken Malaysia Airlines private 
  • Malaysia Airports Holdings Bhd felt impact from airline’s accidents
  • UEM contribution declined RM2.2bil last year
  • concerns in Iskandar Malaysia 

 Showing off the nenek tua business model "Harta ini tok saya kasi"

 
Once again Khazanah has made money from TNB and Telekom - whose shares were given to them by Tun Dr Mahathir all those years ago when Khazanah was set up.

Out of the RM9.3bil increase in net worth, TNB contributed RM4.9bil and Telekom / Axiata contributed RM2.9bil - totalling RM7.8bil. Thank you Tun Dr Mahathir. These two companies also contributed the bulk of the RM3.2bil pre tax profit.

I have a question. Networth itu on paper only. Real cashflow berapa? 

Khazanah is the major shareholder in TNB - our national utility monopoly.

(By the way I have heard rumours twice that 1MDB may be eyeing a takeover of TNB. Since their IPO prospects are getting dimmer - who will buy their shares? - a takeover of TNB will give them a 'backdoor' listing. Pump in 1MDB's power assets into TNB in exchange for shares and walla! they are listed. Another theory is that power generation will be vested in 1MDB but power transmission and distribution wil remain with TNB. Transmission means those high voltage over head power cables running across the hills and along highways whereas distribution means those transformers around your housing estate sending power to your house. Plus oil palm is the tree and palm oil is the oil. Just kiddingTeringat Badawi. By the way has anyone heard anything about Abdullah Badawi? )
 
Back to TNB, it is a monopoly.  Khazanah can make their billions because the Malaysian consumer has no choice. We are at the mercy of TNB and TNB is at the mercy of Khazanah. And maybe now 1MDB. 

Harga minyak sudah turun. Gas prices have also gone down substantially by almost 50%.  When is TNB going to reduce the tariffs? 

Fingers are pointing at Petronas which has NOT reduced the gas price to TNB and the IPPs.  

(TNB is also among the largest owners of IPPs in the country. Bloga UMNO sila ambil perhatian. TNB is the largest owner of IPPs in the country ok. Jangan jadi bodoh. Depa pun IPP juga. 

TNB kah, Petronas kah they are all monopolies. This is what happens when you have so many monopolies in the country. Ultimately the consumer pays higher prices. Ultimately the Malays - the largest consumer base in the country - pay higher prices. Orang Melayu jadi miskin dulu.

Harga tayar boleh turun sebab China pegang bisnes jual tayar. Jual tayar itu tak ada monopoli. Depa semua kena bersaing. Bila penjual tayar bersaing, yang dapat untung orang Melayu juga, sebab harga tayar jatuh. Orang Melayu pun tumpang jadi kaya sebab duit depa terjimat.

Petronas, Khazanah, TNB semua monopoli. Sekarang depa pegang harga bahan bakar minyak dan gas. TNB pegang harga letrik.  Harga minyak dan gas sudah jatuh merudum lebih 50%. Tapi tariff letrik masih tinggi.

Khazanah pula berkokok depa untung RM3.2 billion. Depa punya saham TNB dan Telekom yang Tun Dr Mahathir beri kat depa daripada awal lagi sudah tambah nilai RM7.8 billion. Depa berkokok. Depa ikut sistem perniagaan 'nenek tua'.

Pasai apa Khazanah boleh kira duit monopoli berbillion-billion?  Sebab ada manusia yang rela mempermainkan kita hari-hari. Sila pi lihat dalam cermin. Itulah pelawak besar pemenang Oscar Malaysia. 

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