I refer to the article written by Chan Kok Leong, Sharon Tan & Chua Sue-Ann, with title "Petronas the biggest contributor to government coffers" dated 19 October 2009 at the following link:
http://www.theedgemalaysia.com/political-news/151639-petronas-the-biggest-contributor-to-government-coffers.html
GOC = Goverment-owned Company
Should Malaysia depends heavily on PETRONAS to deliver
While PETRONAS should be allowed to continue making profits from oil and gas industries, the Government should focus on GOCs involved in other sectors by executing profitable ventures, curbing unnecessary expenditures, eliminating "non-compliances" at the highest management level and adopt best practices to ensure maximum returns.
Having PETRONAS to contribute 99.93% of dividend to the Government (based on 10% dividend), which is equivalent to RM30.00b, there's practically nothing to worry about PETRONAS' capability to deliver.
What should the Government worry about? Yes, too much dependency on PETRONAS as source of income. And, what should we do in order to get more from other sectors?
From an agricultural nation, to an industrialized nation, we are moving backward with great reliance on natural resources.
With so much hope on PETRONAS to maintain the national economic growth, anyone can say that Malaysia's economy is not that robust.
http://www.theedgemalaysia.com/political-news/151639-petronas-the-biggest-contributor-to-government-coffers.html
GOC = Goverment-owned Company
Should Malaysia depends heavily on PETRONAS to deliver
While PETRONAS should be allowed to continue making profits from oil and gas industries, the Government should focus on GOCs involved in other sectors by executing profitable ventures, curbing unnecessary expenditures, eliminating "non-compliances" at the highest management level and adopt best practices to ensure maximum returns.
Having PETRONAS to contribute 99.93% of dividend to the Government (based on 10% dividend), which is equivalent to RM30.00b, there's practically nothing to worry about PETRONAS' capability to deliver.
What should the Government worry about? Yes, too much dependency on PETRONAS as source of income. And, what should we do in order to get more from other sectors?
From an agricultural nation, to an industrialized nation, we are moving backward with great reliance on natural resources.
With so much hope on PETRONAS to maintain the national economic growth, anyone can say that Malaysia's economy is not that robust.
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