A concerned Malaysian writes about Malaysian affairs. "You are the Change you Seek" Barack Obama

Tuesday, June 24, 2008

PETRONAS - the Golden Eggs being Controlled by Option Holders?

This letter in malaysiakini is really shocking:
"Who are the six 'option holders' of Petronas?"

According to the letter, all the oil being pumped out of Malaysia is being channelled via a mechanism of option holders and not at the best price available to benefit all Malaysians.

As the details are also secret like the toll agreements and the IPP deals, it seems that the government has not negotiated the best deal for the ordinary folks but once again, the ugly head of cronyism rears high and unchallenged.

PETRONAS seems to be not the golden goose for all citizens but it seems the best part is creamed off and we get some of the dregs.

What is the point of being a Fortune 500 company when the fortunes are limited to the few? I suggest that any new government should rescind such secret arrangements and make all the dealings public. We really cannot afford such parasites anymore.

Graphics: thanks to http://cn1.kaboodle.com/hi/img/2/0/0/a4/0/AAAAAuK5LHUAAAAAAKQJvQ.png?v=1196635546000


lovemalaysia said...

Petronas memeng dalam cengkaman BN dan UMNO.

lovemalaysia said...

memang i mean "sorry"