So, having suffered the smelly water, caused by pigs(!), in my taps last week, I was rather amused to read that Puncak Niaga Holdings Bhd (PNHB) is projected to post a profit of RM 140.4 million in 2006.
Puncak Niaga is of course the first water treatment and supply concession company to be listed on Bursa Malaysia under the Infrastructure Project Company guidelines issued by the Securities Commission.
Syabas, which is 70% owned by PNHB, was given the concession to take over, operate, maintain, manage, rehabilitate and refurbish 27 existing water treatment plants formerly under the management of Perbadanan Urus Air Selangor Berhad (PUAS)
What is apparent in the recent incident is that the technology used in the water treatment plants is not up to mark to treat the pollution in our rivers today.
My question really is, how morally right is it to make large amounts of money from a basic necessity such as water? Or electricity for that matter?
How can PNHB be proud of their financial achievements when they can't provide clean water to its customers? Where is the priority? Make money for its shareholders or provide the best water money can buy, for its customers?
Read PNHB's Vision & Mission
Capitalism is ...
... maximizing profits and reducing costs.
In a monopolistic scenario, customers' interest is of no value to the stakeholders. What incentive is there to provide the 'best value that money can buy?' None whatsoever.
Capitalism + Monopoly - Conscience = Wealthy Suppliers + Unhappy Consumers