KOTA KINABALU: Sabah Housing And Real Estate Developers Association (Shareda) has lauded the positive response by the Energy Commission (EC) to its proposal to have one fixed rate for Consumer Connection Charges (CCC) in Sabah, in line with the current practice by Tenaga Nasional Berhad (TNB), which will be taken into consideration by the government.
“We feel that EC is sincere in tackling the underlying issue raised by Shareda which we are very thankful. EC has concurred with our views that SESB (Sabah Electricity Sdn Bhd) has to re-submit a fair calculation for their perusal.
“We are looking forward towards a positive outcome from EC which will be expected by the end of September 2015,” said Shareda president Datuk Francis Goh yesterday.
On a recent statement made by Energy, Green Technology and Water Minister Datuk Seri Panglima Dr Maximus Ongkili on the topic of taking over SESB by Shareda, Goh said if Shareda was given an opportunity, it would not be difficult to arrange for a consortium to take over the utility company.
He said other investors, whether local or foreign, would also be very keen to participate because it is really a monopoly business with attractive revenue. Similarly, and like any other businesses, its success depended on how the company was managed.
On whether Shareda intended to take over SESB, Goh said it remained an option, adding that to exercise such an option would depend on whether Dr Maximus could instruct SESB to issue Shareda an official offer letter.
According to Goh, Shareda’s confidence was based on the financial information extracted from Malaysia Energy Commission (MEC).
“The said information shows a high revenue and profit after tax of RM1,427,693,000 and RM13,861,000 respectively for the financial year ended 31 August 2013.
“With that level of annual revenue and profits generated by SESB, and still citing financial woes as the primary reason for high charges will open up the question on how the company was being managed. Similarly its transparency and accountability will have to be reviewed,” he explained.
“More importantly, Datuk Seri Panglima Dr Maximus Ongkili being the Minister of Energy, Green Technology and Water, should focus and resolve the inconsistency of Consumer Connection Charges (CCC) as compared to Peninsular Malaysia and the high electricity tariff charged by SESB in Sabah which not only affects the property development industry, but also the rakyat at large,” Goh added.