Why is Petronas delaying release of financial results?

17
147

It’s already 2 July, and still no sign of Petronas’ results for the financial year ended 31 March 2008.

I hope the government or top management are not waiting for the big 6 July oil price hike protest to be over first.

In previous years, Petronas announced its financial results to the media by the end of June.

Financial year 2007 results were released on 28 June.

FY2006 released on 29 June.

FY2005 released on 30 June.

FY2004 released on 30 June.

FY2003 released on 30 June.

So what’s holding it back this time?

Another thing, if Petronas’ top management can brief the ministers about their operations, why can’t they brief the public as well? The oil resources belong to the public, not just the cabinet.

Please help to support this blog if you can.

Read the commenting guidlelines for this blog.
Subscribe
Notify of
guest
17 Comments
Most Voted
Newest Oldest
Inline Feedbacks
View all comments
geekko

anil….

r u satisfied with the result now

afterburner73

Anil, for companies which their financial year ends on 31 March, the deadline to announce resuls is 15 July. so, what’s the problem? Petronas has announced its Group Financial Results today on 15 July 2008. Knock yourself out with all the figures.

Ironman

People claim Petronas never disclose its accounts when in actual fact it has done so for the past 18 years. So, if people have been accusing you of not doing something when in reality you always do, then might as well you don’t do it-lah…

Rosli

I am fasting every Monday and every Thursday previously and now adding another day on Wednesday. May Allah (God) give me strength.

Ganesh

I have no idea why subsidy was taken away. Easily this year, Petronas will make about RM100 billion. The subsidy bill is such a small proportion to that RM100 bil figure. Better to subsidise than let the rakyat suffer. Many working people have gone to the extent of skipping lunches and households have either cut down on food or even not eating at all. This will result in malnurtition and will pose a strain on our hospitals. Besides higher healthcare expendityre, productivity would suffer too cause people would be too weak to work ie unable to concentrate due to malnutrition… Read more »

giko

probably made tons of monies, way above expectations & just got plain scare that the “subsidy” taken away from the rakyat are mere peanuts…

OR amending the accounts in favour of someone?

Enforcer

Normal lah. How to explain to the RAKYAT the hefty profit for the year ending yet burdening the RAKYAT with the recent high petrol price increase?
Sleepy must do some ‘magic’ figures here…

daniel

keep up the good work anil. thanks.

Johnny Cheah

no lah, they are fine tuning the results. Maybe the No. 1 ask them to redo the figures to show a loss for the last fisical year. Reasons are many and one of them is the much higher cost of oil and gas extraction. Only logical to post a lost in order to justify the recent hugh price increase in petrol and diesel. RIGHT?

John Doe

Petronas results are out. You can find it on bursa website

Andrew

Usually, one is ultra eager to show off a good report card. Maybe, they’re feeling a little modest this year.

raj raman666

You keeping on asking and petronas keep on denying.
Ask the PM anil.
He will tell the truth – do u think?

rajraman.i am keep on posting i have a dream.Do u ask HARIS IBRAHIM what my dream?

amoker

Prob finding ways to rough the edges. Displaying record profits at the same month that the petrol price is increased is just insane.

Mr.Mugam

Hello all,

Yup, i agree with inch. People cant the whole pool blame to petronas because petronas is just a business entity. we should blame the greedy and iressponsible person who manage the money for their personal benefit and interest only without considerating the citizens and the country’s growth in the long term.

1inchXS

as you everyone know, that PETRONAS is a corporation that report only to PM and under Petroleum Development ACt 1974, that stated all natural resources belong to PETRONAS.I think the financial report is ready but need a green light frm the PM. I think, the profit is higher but not too high as the cost in oil & gas business is escalating by the day.Don’t blame PETRONAS, it just a business entity.Blame the people that manage the money

DanielYKL

(Perhaps) Finding way to alter the reports. That’s the reason for the delay.