Petronas Chairman’s daughter may rake in about RM70 million in profit

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KUALA LUMPUR: Companies linked to Petronas chairman Mohd Sidek Hassan’s daughter may rake in about RM70 million in profit annually by holding 32.4% of the nation’s solar energy supply.

DAP publicity chief Tony Pua made the allegation today at a press conference held at the party headquarters here.

“The rate is based on the current quota average price, which is between RM0.85 sen per kilowatt/hour (kWh) and RM1.78 kWh,” he said.

Last week, Pua alleged that Sidek’s daughter, Suzi Suliana, was awarded 32.4% of the allocation to supply solar power by the Sustainable Energy Development Authority of Malaysia (Seda)

The contract was said to have been awarded to 12 companies linked to Suzi and her husband, Todd Michael Morath.

Seda chairman Fong Chan Onn stood by his decision to award the contracts to Suzi, claiming “the selection was done above board as it was done through online”.

He also said that he plans to file a legal suit against Pua for his accusation.

Pua, who is also the Petaling Jaya Utara MP, said he was surprised that even established companies such as Cypark and Petronas Power only received 9.2% and 7.1% of the allocation respectively.

He also said it was implausible for some of the companies linked to Suzi, allegedly set up just weeks before the December 2011 deadline, to have managed to get bank approvals and employees within a short time span.

He added that even if the companies meet all the criteria required by Seda, the Renewable Energy Act 2011 clearly spells out the need for fair competition in the FiT (Feed-in-Tariff) system.

“Even the Energy, Water and Green Technology Ministry’s handbook had indicated that the authorities would avoid a monopoly on the matter,” he said. -FMT (G.Vinod)