Petronas has been under great public scrutiny after the sudden rise in oil price last month. Petronas Financial Statements would be the first target where most people would rush to. Here is the breakdown of Petronas's profit worth RM600 billion.
There are arguments saying that Petronas does not do justice to the Rakyat as it doesn't lay out the exact figures pertaining how its profit is being spent. But the reality is, this is how business is run. You cannot expose too much information to the public as these information could be taken advantage of by Petronas competitors. Henceforth, only the summary is being revealed to us.
But I do agree that Petronas financial statements should be tabled in the Parliament where it will be subject to scrutiny by our MP's, after all Petronas belongs partly to the government and therefore it belongs partly to us. We deserve the right to know and to be given justification on the result of Petronas' performance. Petronas is too precious to us - it is the backbone of Malaysia. We can't afford to have any misconduct to happen, nor can we allow any act of asset misappropriation or any negligent business decision to escape without trial.
But as per what Hassan Merican has explained to us, the 1974 Act requires Petronas to report only to the Pime Minister and the Prime Minister alone. To change this scenario, would mean to change the legislation, which process would take months to complete.
Being part of the Petronas family myself, I can safely say that the culture in Petronas is one that puts great emphasis on integrity and professionalism. I am also judging by the strictness of our Education Advisor who reminds us every now and then the importance of us scholars to excel in academic and to acquire strong leadership skills.
Not that I am trying to brush away the suspicions that most people would have on Petronas' integrity, rather I am merely sharing my opinion which could be of some relevance in reaching to a fair conclusion. I personally know the son of a General Manager (GM) in Petronas, and he (the son) is undoubtedly a person of ethic and moral which I reckon were inherited from his father. And I also had the chance to personally chat with four Petronas GM's in a job interview program where I was tremendously in awe with all four of them. Therefore, I am the first to be flabbergasted if evidence of corruption were to be found in Petronas.
Tags:
ethic
Posted at: 12:20 PM | Add Comment
