Comments on: Petronas barrels in record RM96b profit as oil prices soar http://anilnetto.com/governance/accountability/petronas-posts-record-rm96-profit-as-oil-prices-soar/ Let justice flow like a mighty river Fri, 25 May 2012 02:14:56 +0000 hourly 1 http://wordpress.org/?v=3.3.2 By: Mr. Mugam http://anilnetto.com/governance/accountability/petronas-posts-record-rm96-profit-as-oil-prices-soar/comment-page-1/#comment-4265 Mr. Mugam Wed, 16 Jul 2008 06:44:39 +0000 http://anilnetto.com/?p=373#comment-4265 Hello anil, Wow, that's a lot amount of money generate by the petronas. No wonder the money of the company is used by Tun M. to improve the crisis economy in 1998. But the excess money given to the federal government did not channel in a proper way. People are curiously to know where is the money spent on. Based on the expenditure estimates in 2008, the total is about 48.12 billion ringgit malaysia used. the grand total petronas payment to the federal and the state government is about 67.6 billion. Now, where is the 19.5 billion channel to?? Hello anil,

Wow, that’s a lot amount of money generate by the petronas. No wonder the money of the company is used by Tun M. to improve the crisis economy in 1998.

But the excess money given to the federal government did not channel in a proper way. People are curiously to know where is the money spent on. Based on the expenditure estimates in 2008, the total is about 48.12 billion ringgit malaysia used. the grand total petronas payment to the federal and the state government is about 67.6 billion. Now, where is the 19.5 billion channel to??

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]]> By: AHoo http://anilnetto.com/governance/accountability/petronas-posts-record-rm96-profit-as-oil-prices-soar/comment-page-1/#comment-4227 AHoo Wed, 16 Jul 2008 03:34:46 +0000 http://anilnetto.com/?p=373#comment-4227 We are proud that Petronas shines like in comparison to many other GLCs ! Well, that is what they are suppose to do as the best brains are there to ensure profitability. If they can't please move aside for others with the right talent to take care of it. It is where the money goes that we have to be concerned. Making money is just one aspect of it and where the money is transfer to is the most critical part as this is where it will breeds corruption as the power that be thinks that this is their cashflow and will dispense as and when needed. A wise saying that to make money is one process but to save it one need absolute skills. Our praise goes to GLCs like Petronas and MAS where they have shown that with good leadership at the helm, they are able to produce outstanding results and of course if the leakages and wastages are plugged. As mentioned by the prince of Kelantan, this nation will goes into spiral decline if we are not prudent with those money in hand and waste it on many projects not benefiting the people. We need to keep watch over it and ensure that the nation's coffer are guarded well. Not spend to benefit only cronies companies at an inflated cost that is detrimental to all of us in the long run like the IPPs, Tolls, most expensive roads per km in the world, grants for many R&D (research & dump) that was not commercialize... We are proud that Petronas shines like in comparison to many other GLCs ! Well, that is what they are suppose to do as the best brains are there to ensure profitability. If they can’t please move aside for others with the right talent to take care of it.

It is where the money goes that we have to be concerned. Making money is just one aspect of it and where the money is transfer to is the most critical part as this is where it will breeds corruption as the power that be thinks that this is their cashflow and will dispense as and when needed.

A wise saying that to make money is one process but to save it one need absolute skills. Our praise goes to GLCs like Petronas and MAS where they have shown that with good leadership at the helm, they are able to produce outstanding results and of course if the leakages and wastages are plugged.

As mentioned by the prince of Kelantan, this nation will goes into spiral decline if we are not prudent with those money in hand and waste it on many projects not benefiting the people. We need to keep watch over it and ensure that the nation’s coffer are guarded well. Not spend to benefit only cronies companies at an inflated cost that is detrimental to all of us in the long run like the IPPs, Tolls, most expensive roads per km in the world, grants for many R&D (research & dump) that was not commercialize…

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]]> By: Enforcer http://anilnetto.com/governance/accountability/petronas-posts-record-rm96-profit-as-oil-prices-soar/comment-page-1/#comment-4123 Enforcer Tue, 15 Jul 2008 15:53:20 +0000 http://anilnetto.com/?p=373#comment-4123 Please be reminded that the report of GP Rm 96 bil. if for the year ended March,08 ie before the price increase. Imagine what the figure would be after the subsidy is reduced and again further reduced in a months time? That is why they are further subsidising the IPPs which already are in excess of capacity as mention by DSAI in the debate by 40%! ... To reitaliate what DSAI said earlier, "we the RAKYAT are proud of Petronas and its achievement, we only doubt the ruling UMNO/BN" Please be reminded that the report of GP Rm 96 bil. if for the year ended March,08 ie before the price increase. Imagine what the figure would be after the subsidy is reduced and again further reduced in a months time?
That is why they are further subsidising the IPPs which already are in excess of capacity as mention by DSAI in the debate by 40%! …
To reitaliate what DSAI said earlier, “we the RAKYAT are proud of Petronas and its achievement, we only doubt the ruling UMNO/BN”

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]]> By: din http://anilnetto.com/governance/accountability/petronas-posts-record-rm96-profit-as-oil-prices-soar/comment-page-1/#comment-4109 din Tue, 15 Jul 2008 15:39:29 +0000 http://anilnetto.com/?p=373#comment-4109 YEAR AFTER YEAR, PROFIT MADE. THEN WHERE DID THE MONEY WENT? Watched the debate on TV. Must say that the Info Minister talked rubbish praising umno for making petronas great. Great? Then can he tell us where did all the money went. YEAR AFTER YEAR, PROFIT MADE. THEN WHERE DID THE MONEY WENT?

Watched the debate on TV. Must say that the Info Minister talked rubbish praising umno for making petronas great. Great? Then can he tell us where did all the money went.

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]]> By: Ganesh http://anilnetto.com/governance/accountability/petronas-posts-record-rm96-profit-as-oil-prices-soar/comment-page-1/#comment-4044 Ganesh Tue, 15 Jul 2008 12:44:17 +0000 http://anilnetto.com/?p=373#comment-4044 According to Maelstrom's post, our International reserves are RM410.9 billion and, in addition to that, Petronas made RM96 billion. Income tax department alone collected some RM80 bil last year from income tax. Surely our local consumption of a mere 400,000 barrels per day is nothing compared to what the government has in its coffers. I am sure the so called fuel "subsidy" won't cost so much in comparison. http://www.malaysiakini.com/letters/84904 According to Maelstrom’s post, our International reserves are RM410.9 billion and, in addition to that, Petronas made RM96 billion. Income tax department alone collected some RM80 bil last year from income tax.

Surely our local consumption of a mere 400,000 barrels per day is nothing compared to what the government has in its coffers. I am sure the so called fuel “subsidy” won’t cost so much in comparison.

http://www.malaysiakini.com/letters/84904

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]]> By: PETRONAS Annual Financial Report for the Year 2007/2008 » A Particle of Boredom http://anilnetto.com/governance/accountability/petronas-posts-record-rm96-profit-as-oil-prices-soar/comment-page-1/#comment-4035 PETRONAS Annual Financial Report for the Year 2007/2008 » A Particle of Boredom Tue, 15 Jul 2008 10:15:36 +0000 http://anilnetto.com/?p=373#comment-4035 [...] Please click here for more stories [...] [...] Please click here for more stories [...]

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]]> By: geekko http://anilnetto.com/governance/accountability/petronas-posts-record-rm96-profit-as-oil-prices-soar/comment-page-1/#comment-4034 geekko Tue, 15 Jul 2008 10:06:02 +0000 http://anilnetto.com/?p=373#comment-4034 PETRONAS = Goverment Piggy Bank So, pls ask who run the Goverment, where is PETRONAS money given to them? PETRONAS = Goverment Piggy Bank

So, pls ask who run the Goverment, where is PETRONAS money given to them?

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]]> By: ahmad http://anilnetto.com/governance/accountability/petronas-posts-record-rm96-profit-as-oil-prices-soar/comment-page-1/#comment-4033 ahmad Tue, 15 Jul 2008 10:03:11 +0000 http://anilnetto.com/?p=373#comment-4033 How did BN goverment calculated the fuel price at pump be RM2.70(Petrol) and RM2.58 (diesel)???????????????? Where does the petronas money given to BN goverment being spent?????????? How did BN goverment calculated the fuel price at pump be RM2.70(Petrol) and RM2.58 (diesel)????????????????

Where does the petronas money given to BN goverment being spent??????????

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]]> By: Maelstrom http://anilnetto.com/governance/accountability/petronas-posts-record-rm96-profit-as-oil-prices-soar/comment-page-1/#comment-4032 Maelstrom Tue, 15 Jul 2008 09:41:57 +0000 http://anilnetto.com/?p=373#comment-4032 The international reserves at Bank Negara also posted a very healthy RM410.9 billion (equivalent to USD125.8 billion) as at 30 June 2008. With record Petronas profits posted and strong international reserves, isn't it time for the government to consider a retail oil policy where government subsidies increase or decrease in line with crude oil price. This strategy of fixing the price of fuel at the pump irrespective of price movement in the crude oil market will benefit the public at large and remove at a stroke, the argument that the Government is only looking after the interests of selected big businesses. The international reserves at Bank Negara also posted a very healthy RM410.9 billion (equivalent to USD125.8 billion) as at 30 June 2008. With record Petronas profits posted and strong international reserves, isn’t it time for the government to consider a retail oil policy where government subsidies increase or decrease in line with crude oil price. This strategy of fixing the price of fuel at the pump irrespective of price movement in the crude oil market will benefit the public at large and remove at a stroke, the argument that the Government is only looking after the interests of selected big businesses.

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]]> By: Radhakrishnan http://anilnetto.com/governance/accountability/petronas-posts-record-rm96-profit-as-oil-prices-soar/comment-page-1/#comment-4031 Radhakrishnan Tue, 15 Jul 2008 09:40:25 +0000 http://anilnetto.com/?p=373#comment-4031 Let's not direct our ire to Petronas. The organization has its weaknesses, but the fact is it is channelling billions to the government. What we must demand is to know whether this billions is being be used productively and efficiently for nation building activities, or is being frittered away by ... unscrupulous (politicians). Let’s not direct our ire to Petronas. The organization has its weaknesses, but the fact is it is channelling billions to the government. What we must demand is to know whether this billions is being be used productively and efficiently for nation building activities, or is being frittered away by … unscrupulous (politicians).

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