What is the rational for TNB to pay an averageof 2.7 months bonus to its 27,000 workers nationwide?The performance of this GLC has deteriorated ever since it was privatised and its service to consumers have been abysmal to put it mildly.Although its net profit surged to a record 82 per cent to $736.4 million for its fourth quarter ending August 2006,this was nevertheless bolstered by the recent tariff hike.
The President and CEO Datuk Seri Khalib Mohamad Noh admitted that the tariff hike contributed Rm$400 million to its earnings last year.(nst 20th Jan,2007). Since the increased in Profit was entirely due to the tariff hike and not due to better productivity or its improved services why should TNB reward its workers nationwide?To pay bonus based on mediocre performance is to reward incompetence.To seek a hike in tariffs and use the profit derived from this hike to pay its workers an average of 2.7 months of bonus is the height of irresponsibilty.
How could the CEO justify to the average consumer for a price hike in order to pay exorbitant bonus to its workers?Without the profit derived from the hike,TNB's profit would be a meagre $336.4 million. When compared to its huge capital outlay, such a performance would be gauged as below par.
The average citizen have a right to demand an explanation why the CEO and its board deemed it appropriate to pay such extravagant bonus when its workers' performance have deteriorated.The frequent breakdown and outages, the poor response for repairs,the hassle in making payments at TNB counters and the overall quality of services certainly do not merit any bonus at all.
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