Spread the news

A Petronas petrol station in Subang Jaya December 19, 2018.  ― Picture by Mukhriz Hazim
A Petronas petrol station in Subang Jaya December 19, 2018. ― Picture by Mukhriz Hazim

Follow us on Instagram and subscribe to our Telegram channel for the latest updates.

KUALA LUMPUR, Nov 22 — Petroliam Nasional Bhd (Petronas) does not have to present its financial reports in Parliament for debate as it is not a requirement in law.

Minister in the Prime Minister’s Department (Economy) Datuk Seri Mustapa Mohamed explained that the national oil company is public-listed and its financial records are also published on its website quarterly for public inspection.

“Your question has two parts, the first part is on secrecy. You asked if Petronas’ financial operations, accounts and performance are confidential.

“The second question is why was it not reported in Parliament, secret or not. I’m going to answer now. It is accessible to the public on the Petronas website every quarter of the year.

“Why is it not debated in Parliament? Because it is not required by law. No Act compels Petronas to present it in Parliament,” he told Tuaran MP Datuk Seri Wilfred Madius Tangau who had raised the question in the Dewan Rakyat today.

Mustapa noted that several other Opposition lawmakers raised the same question previously.

National news agency Bernama reported in August that Petronas registered a net profit of RM9.6 billion in the second quarter of the year that ended on June 30, 2021 on better earnings and lower impairment compared to a net loss of RM21 billion in the same quarter last year.

Petronas executive vice-president and group chief financial officer Liza Mustapha said the stronger earnings recorded in the quarter were in tandem with higher earnings before interest, taxes, depreciation, and amortisation and lower impairment loss recorded in the period.

Spread the news
Ancient Japanese Discovery Melts 54 LBS Of Fat.
The supplement uses a powerful Okinawa-inspired blend of antioxidants, digestive support ingredients, and metabolism boosters to help you lose weight. The formula is based on science from the Japanese island of Okinawa, which is famous for its low obesity – and high longevity.
Previous articleAsean-China summit held without Myanmar, says Saifuddin
Next articleZahid’s trial ends early today as judge notes defence lawyer’s ‘immense pain’ from ankle swollen by gout


Please enter your comment!
Please enter your name here