Petronas Accounts - For Once I Agree With Khairy
“The call that I made for Petronas to disclose its financial statement goes above and beyond the annual report that is published on its website. I believe most MPs are aware of Petronas’ published financial accounts.
"However, the annual report only highlights a summary of Petronas’ financial position without going into any detail.
"While I appreciate that the standard of the annual report surpasses the requirements of the Companies Commission of Malaysia, I think it is also fair to say that Petronas is not an ordinary corporation," he said in a statement.
He was responding to a report in The Star on Tuesday quoting Petronas acting chairman, president and chief executive officer Tan Sri Mohd Hassan Marican as saying that the corporation’s account had been published and made public for the past 18 years. Hassan said 5,000 copies of the report was printed and distributed to various quarters and it was also available on Petronas' website.
Khairy said Petronas had been tasked with safeguarding the nation’s most important natural resource on behalf of the people and, "therefore, should be held to a higher level of scrutiny.
He claimed that the summarised financial figures found in Petronas’s annual report did not meet this higher level of scrutiny.
"I would suggest that Petronas commits itself to greater transparency and accountability by agreeing to give a special briefing to all MPs on the company’s corporate activities and financial position, and open the briefing to questions from the floor.
"This would provide the MPs, and therefore the public at large, with a more meaningful insight into Petronas apart from the financial summaries that are currently available to the public,” Khairy added.
In Penang, Chief Minister and DAP secretary-general Lim Guan Eng said Petronas should give details on how it spends its earnings, including money used for purchases of planes.
He said Petronas should explain to the people how it spent money on sponsorship programmes and charity as well as reveal the number of luxury cars and jets it owns.
“The online annual report is insufficient as we need to know more than the number of oil barrels Petronas produced in a day,” he said after opening Axon’s new Penang office here on Tuesday.
“In hard economic times, we expect Petronas to play a role in easing the burden on the people,” he said. (The Star)
***** Petronas acting chairman, president and chief executive officer Tan Sri Mohd Hassan Marican thought he could bullshit his way out of this situation by saying that the corporation’s account 'had been published and made public'. But alas there seems to be much, much more to the story than what he's letting on. Hopefully over the next few days we can get to see some real, unedited figures which will tell their own sordid tales of avarice and abuse of power.
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