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2018
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Announcements

Date : 19 June 2001

ARTICLE ENTITLED: "Three IPPs to be offered about 12sen a unit for their power - Negotiations are progressing well and two of the three IPPs are close to agreeing to the terms, says a Tenaga officer"

TENAGA NASIONAL BHD

TypeReply to query
Reply to Query Letter by KLSE reference IDZO-010618-53091
SubjectARTICLE ENTITLED: "Three IPPs to be offered about 12sen a unit for their power - Negotiations are progressing well and two of the three IPPs are close to agreeing to the terms, says a Tenaga officer"

Contents :

With reference to the above, stated below is the response to the Business Times article, pages 1 and 2, on Monday 18th June 2001 for KLSE.


2. Tenaga is in the process of finalising details of the PPAs with Malakoff, Powertek and Sepang Power. In view of the slower demand for electricity as a result of the economic slowdown, Tenaga is now negotiating with the IPPs to fine tune the implementation of the power projects.

3. Tenaga does not plan to adopt the take and pay concept for the PPAs that it would soon sign with the respective IPPs.

Query Letter Contents :

We refer to the above news article appearing in the Business Times, pages 1 and
2, on Monday, 18 June 2001, a copy of which is enclosed for your reference.
In particular, we would like to draw your attention to the underlined sentences
which are reproduced as follows:-
"POWERTEK Bhd, Malakoff Bhd and Sepang Power Sdn Bhd are expected to be offered
about 12 sen a unit for their electricity under new power purchasing agreements
..."
"The three independent power producers (IPPs) will sign 21-year PPAs, which
sees Tenaga paying only for power it uses, and not all of the IPPs' contracted
output even when it does not require the electricity."
In accordance with the Exchange's Corporate Disclosure Policy, you are
requested to furnish the Exchange with an announcement for public release
confirming or denying the above reported article and in particular the
underlined sentences after due and diligent enquiry with all the directors,
substantial shareholders and all such other persons reasonably familiar with
the matters about which the disclosure is to be made in this respect. In the
event you deny the above sentences or any other part of the above reported
article, you are required to set forth facts sufficient to clarify any
misleading aspects of the same. In the event you confirm the above sentences or
any other part of the above reported article, you are required to set forth
facts sufficient to support the same.
Please furnish the Exchange with your reply within one (1) market day from the
date hereof.

Yours faithfully


LISA LAM
Senior Manager, Listing Operations
LL/CS/ZOOS
c.c. Securities Commission (via fax)



Announcement Info

Company NameTENAGA NASIONAL BHD  
Stock Name TENAGA    
Date Announced19 Jun 2001  
CategoryGeneral Announcement
Reference NoTN-010619-64763

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