News

TNB's vendor development spending since 1994 tops RM15 bln

Tan Sri Leo Moggie

By Mohd Khairi Idham Amran

KUALA LUMPUR, April 28 (Bernama) – It is a little known fact that utility giant Tenaga Nasional Bhd (TNB) has spent a whopping RM15.4 billion for vendor development since 1994.

The massive shot in the arm for the domestic economy comes in the form of contracts awarded to vendors, including small and medium enterprises.

Chairman Tan Sri Leo Moggie said TNB has been strongly involved in supporting the development of local vendors.

“Some of them have also progressed and are able to market their products abroad,” he told Bernama in an interview.

He said since 2014, half of TNB's procurements have been awarded to local vendors.

Moggie said TNB has also played a key role in human capital development since its establishment in 1951, when it was known as the Central Electricity Board.

Back then, it provided scholarships for Malayan students for courses at the Brighton Technical College in England.

“From that beginning until now, we have maintained provision of scholarships and educational support as one of the major corporate social responsibility components of TNB,” he said.

The company, through the establishment of Yayasan Tenaga Nasional in 1993, has supported more than 10,000 graduates at a cost of over RM1 billion.

He said in addition to the existing scholarships, it has also introduced the MyBetterFuture scholarship programme that targets the low-income group or the B40 from all ethnicity.

The programme, which started last year, has provided 945 B40 students with tuition fees and pocket allowance to ease the burden of their families.

Another contribution in the education sector was the establishment of Universiti Tenaga Nasional in 1997 which has produced more than 20,000 graduates, including Member of Parliament for Permatang Pauh, Nurul Izzah Anwar.

-- BERNAMA

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