WILL MOGGIE STAY OR GO?

TNB chairman’s 2-year term ends on March 11

TAN Sri Leo Moggie, who has helmed Tenaga Nasional Bhd (TNB) for the past 15 years, is keeping the business community guessing on whether his chairmanship will be extended beyond next month.

“TNB staff are celebrating Chinese New Year with many orphans. Let’s not talk about business today,” he said when asked about his chairmanship at TNB’s Chinese New Year luncheon, here, yesterday.

More than 1,000 people attended the event.

Two years ago, TNB extended Moggie’s term until March 11.

Moggie, 77, was appointed director by the Minister of Finance (Mof ) Inc, the special shareholder of TNB, in April 2004.

The MoF Inc’s stake in TNB gives the finance minister the prerogative to appoint the chairman, chief executive officer and a director to the TNB board.

According to TNB’s 2017 annual report, Khazanah Nasional Bhd owns 28.14 per cent in the national utility company while the Employees Provident Fund holds an 11.01 per cent stake.

Moggie spent almost three decades of his career with the government. He was energy, communications and multimedia minister (1998-2004), works minister (1989-1995) and energy, telecommunications and posts minister (1995-1998).

He was also the local government minister (1977-1978) and welfare services minister (19761977) in Sarawak.

PIC BY MAHZIR MAT ISA Energy, Science, Technology, Environment and Climate Change Minister Yeo Bee Yin (centre), Tenaga Nasional Bhd chairman Tan Sri Leo Moggie (second from left), company officials and guests tossing yee sang at TNB’s Chinese New Year luncheon in Kuala Lumpur yesterday.