PETRONAS, alleged dubious practices
Petronas is forced to sell to these choice holders during a ridiculously low cost as well as a contract is during this low cost for most years! By Dr. Tan Kee Kwong Let me first admit which Petronas from a indicate of administration is quite a good run company. Also, it is a GLC ie it belongs to a adults of Malaysia. Petronas increase have helped sustain a Government expenditure, both collateral & recurrent expenditure. In fact, it is pronounced which Petronas contributes about 40% of a annual Government spending.
Real Accounts of PetronasFew people as well as adults realize which a full as well as loyal accounts of Petronas have been NEVER EVER tabled in Parliament. In fact, as a part of of a Public Accounts Committee in 2006, a total committee (both BN as well as Opposition MPs) demanded to examine a accounts of Petronas from a then Second Finance Minister. His modest answer was he was usually in charge of a Finance Ministry; Petronas is under a Prime Minister's Department. we want to ask a benefaction Prime Minister, UMNO as well as a total Cabinet, because can't we get to check as well as scrutinize Petronas' accounts? WHY WHY WHY. As a doctor cocok, a usually conclusion which we can strech is, if a Government dares not table a accounts of Petronas in Parliament as well as be subject to open scrutiny, YOU'VE GOT PLENTY TO HIDE. This state of affairs is totally unacceptable.A couple of years ago, we was having a chat with an ex-manager of Petronas. He pronounced "YB Dr., it looks as if we have been annoyed as well as upset with what we know about Petronas. Believe me, we have worked in Petronas for thirty years. If we know what WE know about a middle workings of Petronas as well as a large nosiness by a politicians, it will give we a fit or a heart attack!"
Option Holders or MiddlemenMany people suspect which there is this indeterminate make use of of Petronas being forced to make make use of of choice holders or middlemen to sell a wan! ton oil which they produce both locally as well as overseas. If this is true, because do we need to do this? Why not sell a wanton oil in a open market?Apparently it works like this: Petronas is forced to sell to these choice holders during a ridiculously low cost as well as a contract is during this low cost for most years! For example, Petronas is contracted to sell a wanton oil during contend US$40 per barrel. At present, a open marketplace cost of Brent wanton oil is US$75 per barrel. So a choice holder creates US$35 per barrel. Petronas ends up creation a small as well as meager profit. You can imagine how much a choice holder done when a wanton oil cost went up to US100 per barrel. At this rate, a commision is even better than what a Malaysian supervision paid to squeeze a 2 French submarines! And friends, this money is "lost" DAILY. WOW!So, we plea a Prime Minister/UMNO/BN/Cabinet to exhibit a real, loyal as well as total accounts of Petronas for open scrutiny.To a Chairman of Petronas we ask
1. Is there a make use of of regulating choice holders to help sell your wanton oil?
2. If so, because is there a need to make make use of of choice holders when Petronas can sell a wanton oil themselves?
3. If there have been unequivocally choice holders, please exhibit who they are, a volume of oil sole to them as well as for how long? The open as well as taxpayers direct to know these answers.
See What Barisan Nasional Gotta Say?
Real Accounts of PetronasFew people as well as adults realize which a full as well as loyal accounts of Petronas have been NEVER EVER tabled in Parliament. In fact, as a part of of a Public Accounts Committee in 2006, a total committee (both BN as well as Opposition MPs) demanded to examine a accounts of Petronas from a then Second Finance Minister. His modest answer was he was usually in charge of a Finance Ministry; Petronas is under a Prime Minister's Department. we want to ask a benefaction Prime Minister, UMNO as well as a total Cabinet, because can't we get to check as well as scrutinize Petronas' accounts? WHY WHY WHY. As a doctor cocok, a usually conclusion which we can strech is, if a Government dares not table a accounts of Petronas in Parliament as well as be subject to open scrutiny, YOU'VE GOT PLENTY TO HIDE. This state of affairs is totally unacceptable.A couple of years ago, we was having a chat with an ex-manager of Petronas. He pronounced "YB Dr., it looks as if we have been annoyed as well as upset with what we know about Petronas. Believe me, we have worked in Petronas for thirty years. If we know what WE know about a middle workings of Petronas as well as a large nosiness by a politicians, it will give we a fit or a heart attack!"
Option Holders or MiddlemenMany people suspect which there is this indeterminate make use of of Petronas being forced to make make use of of choice holders or middlemen to sell a wan! ton oil which they produce both locally as well as overseas. If this is true, because do we need to do this? Why not sell a wanton oil in a open market?Apparently it works like this: Petronas is forced to sell to these choice holders during a ridiculously low cost as well as a contract is during this low cost for most years! For example, Petronas is contracted to sell a wanton oil during contend US$40 per barrel. At present, a open marketplace cost of Brent wanton oil is US$75 per barrel. So a choice holder creates US$35 per barrel. Petronas ends up creation a small as well as meager profit. You can imagine how much a choice holder done when a wanton oil cost went up to US100 per barrel. At this rate, a commision is even better than what a Malaysian supervision paid to squeeze a 2 French submarines! And friends, this money is "lost" DAILY. WOW!So, we plea a Prime Minister/UMNO/BN/Cabinet to exhibit a real, loyal as well as total accounts of Petronas for open scrutiny.To a Chairman of Petronas we ask
1. Is there a make use of of regulating choice holders to help sell your wanton oil?
2. If so, because is there a need to make make use of of choice holders when Petronas can sell a wanton oil themselves?
3. If there have been unequivocally choice holders, please exhibit who they are, a volume of oil sole to them as well as for how long? The open as well as taxpayers direct to know these answers.
See What Barisan Nasional Gotta Say?
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