Batu Putih Rakyat Malaysia Putih Mata!
Bukan sebenarnya kita merebut Pulau itu tapi kedaulatan Negara Malaysia!.Perairan kita makin sempit di Selat Johor!.Dan juga otak pemimpin kita makin sempit!.Kita kena memahami Polisi Total Pertahanan negara singapura!
(Singapore Total Defence):
1.Pertahanan Tentera 2.Pertahanan Awam 3.PERTAHANAN EKONOMI 4.Pertahanan Sosial 5.Pertahanan Saikologi (Phsychology).
Jadi Fikir Masak-masak tentang Total Defence Negara itu sebelum melaksanakan koridor IDR bagi Mamak duit boleh cari,Kalau Maruah tergadai?.Kaji konsep negara jiran yang selepas TDM,mood mereka amat baik terhadap Pak Lah dan Khairy!.Mereka banyak gunakan kaedah yahudi dalam perlaksanaan policy pemerintahan!.
Win win….my foot!!
Singapore got land. We got 2 foot stools
UMNO can never admit defeat gracefully.
Kickdefella is surrounded by half past sixes…….be it UMNO or PAS members…making him on too……right now.
K
to continue…..
Kicky is smart? Not anymore.
Daily……his stubborn and selfish attitudes.. is making him… a real…half past six person…out of him…in Kota Baru.
No wonder ….he hero worship Mahathir…..like a good son.
The problem is….Mahathir robbed malays wealth more any others…….yet he still does not understand……..he is bad in maths….in school…..I am sure!
Dollah…why same boat with Mahathir before…suppose to sink or swim together.
You think Mahathir left the boat willingly??
He resigned as PM…out of no choice. He left the UMNO sailing boat…..before to be kicked out…..with court cases speeding up. But if he leave willingly..cases maybe delayed. That’s smart …reading of the present position ……bu none other than super smart..monsterball………hahahahahaha
Apalah nasib….!!! sudah jatuh di timpa tangga!.Itu kung fu ke?ooopsss dekat Jepun dia mesti try Stail Judo ke?The Ninja boys mana pulak?.Sibuk nak pikiak macam mana nak kelepiak cerita Pulau batu Putih ke sheh?…lain kali buat gambar sekali dengan “The Ninja Boys”!!!!Rindu tengok muka depa!!!!!!!!!!.Very nice picture specially the rising sun background……..
ahaha !!!!! lol ! so creative.. Sheih. Demo buke stakat creative in writing, demo creative in design jugo. U sleep thinking about that Sleepy head everyday ? I think u r next to Lat. Btw, what happen to Reggie Lee that cartoonist ? You are the best Sheih !
i know why he is smiling.. the Batu Puteh is non of his concerned.. its the rakyat’s lost not the government.. What he is dictating is that.. dont anyone dare to challenge him.. he has his exclusive silent shield!
Pulau Batu Puteh has nothing to do with land. It is all about territorial waters. May be we think that if Singapore is only 1.5 miles away at the causeway this win win deal is not too bad. Singapore is now 10.5miles from the coast of Johor.
PULAU BATU PUTIH HILANG, KITA KATA KITA MENANG-MENANG. SINGAPURA AKAN LANCARKAN GERAKAN IMPERIALISMA EKONOMI MENAWAN SELATAN JOHOR (WPI) DENGAN DUIT, PUN KITA AKAN KATA KITA MENANG-MENANG-MENANG. SIAPA YANG MENANG DAN SENANG?, PUAK-PUAK MANA YANG MENANG DAN SENANG MACAM MENANG LOTERI?…..DAN YANG KALAH ADALAH KEDAULATAN DAN MARUAH KITA, TOLONG JANGAN JADIKAN “JOHOR FOR SALE”.
We lost the Island because the Sultan of Johore signed it to Singapore in 1953.
If cases are lost based on legal…and not historical…than so many countries are illegally been claimed by so many so call owners now.
Rais Yatim is an idiot…a simpleton of the highest order….to say .it is win win situation. What he is saying……is that…the Hauge gave Malaysia some face….with the two stone stools….to watch Pulau Batu Puteh…………forever gone…legally!!
Bravo to the Court…. for an excellent judgment.
It is our government lawyers….from UMNO…always looses cases.
The Panda reflects the DUMBNESS of Pak Lah perfectly. As we all know that Panda is becoming rare species, same goes to this Pak Lah. His defectness is beyond doubt needs some major repairs, perhaps at the brain cells changes area.
The nation lost Batu Puteh to his weakness, food prices also mainly due his poor visionary and CKOCY TALK comparing Malaysia to nations created for doomed, what else can Pak Lah lead Malaysia.
Made worst UMNO members not heeding Tun Mahathir that led nation development from Vietnam state to Taiwan benchmark. WTF these UMNO Members; they are either DUMB as Pak Lah or DAFT like C4 Bomber (whoever that be!).
Fuel prices supposed to reduced, instead maintain at current high prices. I actually have to cucle to 7-Eleven to get condoms; there goes my V-Power fort the action worn out before even started.
We have a cruel leadership, Shieh. Think about it.
RAIS YATIM kata WIN- WIN.. win win… WIN WIN KEPALA HANGGUK KO.. bodo punya menteri.. maner ade win2 bodo.. aku tak terkejut kalau lepas nih.. singapore akan buat benteng dan tambak pulau tuh.. kasi lagi besar..
KITA.. nak buat geretok pong sibuk nok keno tanyo oghe.. TDM meluat.. DOLLAH BODOH pulok bongok.. adakah dolah seorang pemikir yg strategik.. saya fikir YA.. strategi untuk menghancurkan malaysia.. adakah malaysia akan jadi macam turki ketika era KAMAL ATTARTURK…?? mungkin.. siapa akan selamatkan malaysia?? ntah la..
Mamak sedih…kat UMNO sampai DYMM Sultan Pahang berkenaan settlekan problem hampa…!.Apa dah jadi sepatutnya memanda Pak lah sepatutnya menasihati Kerajaan Negeri dan sultan sebagai Perdana Menteri…Ini DYMM Sultan pulak kena nasihat kat Hampa berdua…Ini menunjukan apa?..betapa pandainya orang UMNO memerintah negara ini!..kerana mamak percaya yang memerintah Malaysia ini UMNO bukan BN kalau tak caya tanya kat Dato Sri Samy Velu Dan Dato Sri Ong Ka Ting?.Jadi Orang UMNO jangan kecik hati…!.Kenapa Negeri kedah terlepas dari dengki khianat UMNO?.pasai beras kot?.Atau takutkan dengan TDM?.
Negeri Johor bertanggungjawab untuk menjalankan penyelenggaraan (maintenance) ke atas struktur rumah api (lighthouse) di atas Pulau Batu Putih. Jika kerja-kerja ini dijalankan oleh Johor, sudah tentu kedaulatan Malaysia ke atas Batu Putih dapat dibuktikan. Tetapi Johor (negeri kuat Umno) mempunyai mentaliti Umno sudah pasti akan gagal melakukan tugasan tersebut. Apa-apa sahaja jika ditugaskan kepada Umno, Malaysia akan tewas di dalam sebarang persaingan atau pertandingan.
Umno attorneys like Gani Patail can win in Malaysian courts only. Here they can tender their all time favourite evidence like mattress with sperm stains. But in The Hague, it’s not accepted.
What is IDR (WPI)?
South Johor as a whole complements Singapore’s growth Strategy with enviroment that provides an alternative “quality of life”that is not readily avaible in the Island state”…tak cukup tanah boleh dengan rasmi mai kat Johor !!!.
Incentives In IDR?
a.Corporate tax exemption for 10 years-lepas itu tutup piii tak apa!
b.Exemption from FIC ruling – Apa suka buatlah!
c.Allowed to source capital globally -Yahudi pun tak apa janji ada duit!
d.Allowed to employ foreign workers without restrictions – bawak mai satu kapai Bangla tak ape tak cukup ambil satu kapai orang seberang mai-no problems!.
..never too late to run..Batu putih berputih mata..eloklah tu..gaduh lagi, gaduh lagi sesama sendiri. Kalau bak gaduh, kutuk mengutuk, rebut merebut kuasa UMNO/BN lah SUPER SPECIALIST. Padan muka! Gaduh lagi, gaduh lagi..nanti batu lain pula yang putih!
After reading all the chain mails and blogs, I feel called to reply, because of the relentless attacks and allegations — most of which are inaccurate or baseless — against PETRONAS.
PETRONAS’ STAFF SALARY & BONUS
1) The salaries paid to PETRONAS’ employees are not as high as people think. At best, they are just industry average. And these are not attractive enough for some who left PETRONAS to find work at other companies ( mai nly from the Middle East ) which are willing to pay more. Why do they pay more? The oil and gas industry worldwide has been facing acute shortage of qualified or experienced personnel, so most companies are willing to pay lots of money to entice and pinch staff from their competitors.
Bonus? There has NEVER been a bonus amounting to 6 months or 12 months throughout the 33 years. On average, it is 2 months. But don’t ever think we don’t deserve it. We more than deserve it. A lot of us work really hard, some in the most extreme of conditions. Those who have been to and worked in northern Sudan , for example, would testify that it’s like working in a huge blower oven. Southern Sudan , on the other hand, is almost all swamps and mud. Imagine having to go through that kind of heat, or waddling in muddy swamps, day in and day out.
QUALITY OF CRUDE & REFINED PRODUCTS
2) Malaysia produces about 600,000 barrels of crude oil per day (and about 100,000 barrels condensate). Of this crude volume, 339,000 barrels are refined locally for local consumption. The rest is exported (and yes, because it has lower sulphur content it fetches higher prices).
Malaysia also imports about 230,000 barrels of crude oil per day, mai nly from the Middle East , to be refined here. This crude oil contains higher sulphur and is less expensive (so the country gains more by exporting our crudes). In Malaysia , this crude is processed by PETRONAS at its second refinery in Melaka, and also by Shell at its Port Dickson refinery.
Different refineries are built and configurated to refine different types of crude. And each crude type yields different percentage of products (diesel, gasoline, kerosene, cooking gas etc) per barrel.
But most importantly, products that come out at the end of the refining process have the same good quality regardless of the crude types. That’s why PETRONAS, Shell and Exxon Mobil share the same pipeline to transport the finished products from their refineries to a distribution centre in the Klang Valley . The three companies collect the products at this centre accordingly to be distributed to their respective distribution networks. What makes PETRONAS’ petrol different from Shell’s, for example, is the additive that each company adds.
PETRONAS’ ROLE, FUNCTION & CONTRIBUTION
3) A lot of people also do not understand the role and function of PETRONAS, which is essentially a company, a business entity, which operates on a commercial manner, to mai nly generate income and value for its shareholder. In this case, PETRONAS’ shareholder is the Government.
In 1974, when PETRONAS was set up, the Government gave PETRONAS RM10 million (peanuts, right?) as seed capital. From 1974 to 2007, PETRONAS made RM570 billion in accumulated profits, and returned to the Government a total of RM335.7 billion. That is about 65% of the profits. That means for every RM1 that PETRONAS makes, 65 sen goes back to the Government.
Last year, PETRONAS made a pre-tax profit of RM86.8 billion. The amount given back to the Government (in royalty, dividends, corporate income tax, petroleum products income tax and export duty) was RM52.3 billion. The rest of the profit was used to pay off minority interests and taxes in foreign countries (about RM7.8 billion – PETRONAS now operates in more than 30 countries), and the re mai ning RM26.7 billion was reinvested. The amount reinvested seems a lot, but the oil and gas industry is technology- and capital-intensive. Costs have gone up exponentially in the last couple of years. Previously, to drill a well, it cost about US$3 million; now it costs US$7 million. The use of rigs was US$200,000 a day a couple of years ago; now it costs US$600,000 a day.
A lot of people also do not realise that the amount returned by PETRONAS to the Government makes up 35% of the Government’s total annual income, to be used by the Government for expenditures, development, operations, and yes, for the various subsidies. That means for every RM1 the Government makes, 35 sen is contributed by PETRONAS.
So, instead of asking what happens to PETRIONAS’ money or profits, people should be questioning how the money paid by PETRONAS to the Government is allocated.
CRUDE EXPORTS & FUEL PRICES
4) A lot of people also ask, why Malaysia exports its crude oil. Shouldn’t we just stop exporting and sell at cheaper prices to local refiners? If Malaysia is an oil exporting country, why can’t we sell petrol or diesel at cheaper prices like other oil producing countries in the Middle East ?
I guess I don’t have to answer the first couple of questions. It’s simple economics, and crude oil is a global commodity.
Why can’t we sell petrol and diesel at lower prices like in the Middle East ? Well, comparing Saudi Arabia and other big producers to Malaysia is like comparing kurma to durian, because these Middle Eastern countries have much, much, much bigger oil and gas reserves.
Malaysia has only 5.4 billion barrels of oil reserves, and about 89 trillion cubic feet of gas. Compare that to Saudi Arabia ‘s 260 billion barrels of oil and 240 trillion cubic feet of gas.
Malaysia only produces 600,000 barrels per day of oil. Saudi Arabia produces 9 million barrels per day. At this rate, Saudi Arabia ‘s crude oil sales revenue could amount to US$1.2 billion per day! At this rate, it can practically afford almost everything — free education, healthcare, etc, and subsidies — for its people.
But if we look at these countries closely, they have in the past few years started to come up with policies and strategies designed to prolong their reserves and diversify their income bases. In this sense, Malaysia (and PETRONAS) has had a good head start, as we have been doing this a long time.
Fuel prices in Malaysia is controlled by the Government based on a formula under the Automatic Pricing Mechanism introduced more than a couple of decades ago. It is under this mechanism that the complex calculation of prices is made, based on the actual cost of petrol or diesel, the operating costs, margin for dealers, margin for retail oil companies (including PETRONAS Dagangan Bhd) and the balancing number of duty or subsidy. No retail oil companies or dealers actually make money from the hike of the fuel prices. Oil companies pay for the products at market prices, but have to sell low, so the Government reimburses the difference — thus subsidy.
Subsidy as a concept is OK as long as it benefits the really deserving segment of the population. But there has to be a limit to how much and how long the Government should bear and sustain subsidy. An environment where prices are kept artificially low indefinitely will not do anyone any good. That’s why countries like Indonesia are more pro-active in removing subsidies. Even Vietnam (which is a socialist country, by the way) is selling fuel at market prices.
PETRONAS & TRANSPARENCY
5) I feel I also need to say something on the allegation that PETRONAS is not transparent in terms of its accounts, business transactions etc.
PETRONAS is first and foremost a company, operating under the rules and regulations of the authorities including the Registrar of Companies, and the Securities Commission and Bursa Malaysia for its listed four subsidiaries (PETRONAS Dagangan Bhd, PETRONAS Gas Bhd, MISC Bhd and KLCC Property Holdings Bhd.
PETRONAS the holding company produces annual reports which are made to whomever wants them, and are distributed to many parties and places; including to the library at the Parliament House for perusal and reading pleasure of all Yang Berhormat MPs (if they care to read). PETRONAS also makes the annual report available on its website, for those who bother to look. The accounts are duly audited.
The website also contains a lot of useful information, if people really care to find out. Although PETRONAS is not listed on Bursa Malaysia , for all intents and purposes, it could be considered a listed entity as its bonds and financial papers are traded overseas. This requires scrutiny from investors, and from rating agencies such as Standard & Poor and Moody’s.
BOYCOTT PETRONAS?
6) The last time I checked, this is still a democratic country, where people are free to spend their money wherever they like.
For those who like to see more of the money that they spend go back to the local economy and benefiting their fellow Malaysians, perhaps they should consider sticking to local products or companies.
For those who like to see that the money they spend go back to foreign shareholders of the foreign companies overseas, they should continue buying foreign products.
Batu Putih Rakyat Malaysia Putih Mata!
Bukan sebenarnya kita merebut Pulau itu tapi kedaulatan Negara Malaysia!.Perairan kita makin sempit di Selat Johor!.Dan juga otak pemimpin kita makin sempit!.Kita kena memahami Polisi Total Pertahanan negara singapura!
(Singapore Total Defence):
1.Pertahanan Tentera 2.Pertahanan Awam 3.PERTAHANAN EKONOMI 4.Pertahanan Sosial 5.Pertahanan Saikologi (Phsychology).
Jadi Fikir Masak-masak tentang Total Defence Negara itu sebelum melaksanakan koridor IDR bagi Mamak duit boleh cari,Kalau Maruah tergadai?.Kaji konsep negara jiran yang selepas TDM,mood mereka amat baik terhadap Pak Lah dan Khairy!.Mereka banyak gunakan kaedah yahudi dalam perlaksanaan policy pemerintahan!.
kungfu atau silat kangkang !
Win win….my foot!!
Singapore got land. We got 2 foot stools
UMNO can never admit defeat gracefully.
Kickdefella is surrounded by half past sixes…….be it UMNO or PAS members…making him on too……right now.
K
to continue…..
Kicky is smart? Not anymore.
Daily……his stubborn and selfish attitudes.. is making him… a real…half past six person…out of him…in Kota Baru.
No wonder ….he hero worship Mahathir…..like a good son.
The problem is….Mahathir robbed malays wealth more any others…….yet he still does not understand……..he is bad in maths….in school…..I am sure!
Dollah…why same boat with Mahathir before…suppose to sink or swim together.
You think Mahathir left the boat willingly??
He resigned as PM…out of no choice. He left the UMNO sailing boat…..before to be kicked out…..with court cases speeding up. But if he leave willingly..cases maybe delayed. That’s smart …reading of the present position ……bu none other than super smart..monsterball………hahahahahaha
Apalah nasib….!!! sudah jatuh di timpa tangga!.Itu kung fu ke?ooopsss dekat Jepun dia mesti try Stail Judo ke?The Ninja boys mana pulak?.Sibuk nak pikiak macam mana nak kelepiak cerita Pulau batu Putih ke sheh?…lain kali buat gambar sekali dengan “The Ninja Boys”!!!!Rindu tengok muka depa!!!!!!!!!!.Very nice picture specially the rising sun background……..
ahaha !!!!! lol ! so creative.. Sheih. Demo buke stakat creative in writing, demo creative in design jugo. U sleep thinking about that Sleepy head everyday ? I think u r next to Lat. Btw, what happen to Reggie Lee that cartoonist ? You are the best Sheih !
i know why he is smiling.. the Batu Puteh is non of his concerned.. its the rakyat’s lost not the government.. What he is dictating is that.. dont anyone dare to challenge him.. he has his exclusive silent shield!
Thank you for adding me
Pulau Batu Puteh has nothing to do with land. It is all about territorial waters. May be we think that if Singapore is only 1.5 miles away at the causeway this win win deal is not too bad. Singapore is now 10.5miles from the coast of Johor.
PULAU BATU PUTIH HILANG, KITA KATA KITA MENANG-MENANG. SINGAPURA AKAN LANCARKAN GERAKAN IMPERIALISMA EKONOMI MENAWAN SELATAN JOHOR (WPI) DENGAN DUIT, PUN KITA AKAN KATA KITA MENANG-MENANG-MENANG. SIAPA YANG MENANG DAN SENANG?, PUAK-PUAK MANA YANG MENANG DAN SENANG MACAM MENANG LOTERI?…..DAN YANG KALAH ADALAH KEDAULATAN DAN MARUAH KITA, TOLONG JANGAN JADIKAN “JOHOR FOR SALE”.
We lost the Island because the Sultan of Johore signed it to Singapore in 1953.
If cases are lost based on legal…and not historical…than so many countries are illegally been claimed by so many so call owners now.
Rais Yatim is an idiot…a simpleton of the highest order….to say .it is win win situation. What he is saying……is that…the Hauge gave Malaysia some face….with the two stone stools….to watch Pulau Batu Puteh…………forever gone…legally!!
Bravo to the Court…. for an excellent judgment.
It is our government lawyers….from UMNO…always looses cases.
Well done Sheih.
The Panda reflects the DUMBNESS of Pak Lah perfectly. As we all know that Panda is becoming rare species, same goes to this Pak Lah. His defectness is beyond doubt needs some major repairs, perhaps at the brain cells changes area.
The nation lost Batu Puteh to his weakness, food prices also mainly due his poor visionary and CKOCY TALK comparing Malaysia to nations created for doomed, what else can Pak Lah lead Malaysia.
Made worst UMNO members not heeding Tun Mahathir that led nation development from Vietnam state to Taiwan benchmark. WTF these UMNO Members; they are either DUMB as Pak Lah or DAFT like C4 Bomber (whoever that be!).
Fuel prices supposed to reduced, instead maintain at current high prices. I actually have to cucle to 7-Eleven to get condoms; there goes my V-Power fort the action worn out before even started.
We have a cruel leadership, Shieh. Think about it.
RAIS YATIM kata WIN- WIN.. win win… WIN WIN KEPALA HANGGUK KO.. bodo punya menteri.. maner ade win2 bodo.. aku tak terkejut kalau lepas nih.. singapore akan buat benteng dan tambak pulau tuh.. kasi lagi besar..
KITA.. nak buat geretok pong sibuk nok keno tanyo oghe.. TDM meluat.. DOLLAH BODOH pulok bongok.. adakah dolah seorang pemikir yg strategik.. saya fikir YA.. strategi untuk menghancurkan malaysia.. adakah malaysia akan jadi macam turki ketika era KAMAL ATTARTURK…?? mungkin.. siapa akan selamatkan malaysia?? ntah la..
Mamak sedih…kat UMNO sampai DYMM Sultan Pahang berkenaan settlekan problem hampa…!.Apa dah jadi sepatutnya memanda Pak lah sepatutnya menasihati Kerajaan Negeri dan sultan sebagai Perdana Menteri…Ini DYMM Sultan pulak kena nasihat kat Hampa berdua…Ini menunjukan apa?..betapa pandainya orang UMNO memerintah negara ini!..kerana mamak percaya yang memerintah Malaysia ini UMNO bukan BN kalau tak caya tanya kat Dato Sri Samy Velu Dan Dato Sri Ong Ka Ting?.Jadi Orang UMNO jangan kecik hati…!.Kenapa Negeri kedah terlepas dari dengki khianat UMNO?.pasai beras kot?.Atau takutkan dengan TDM?.
Negeri Johor bertanggungjawab untuk menjalankan penyelenggaraan (maintenance) ke atas struktur rumah api (lighthouse) di atas Pulau Batu Putih. Jika kerja-kerja ini dijalankan oleh Johor, sudah tentu kedaulatan Malaysia ke atas Batu Putih dapat dibuktikan. Tetapi Johor (negeri kuat Umno) mempunyai mentaliti Umno sudah pasti akan gagal melakukan tugasan tersebut. Apa-apa sahaja jika ditugaskan kepada Umno, Malaysia akan tewas di dalam sebarang persaingan atau pertandingan.
Umno attorneys like Gani Patail can win in Malaysian courts only. Here they can tender their all time favourite evidence like mattress with sperm stains. But in The Hague, it’s not accepted.
Apa kena sekarang ramai suka buat poster2 movie ni yek? Cantik tu iyelah, tapi matlamatnya? Bikin kontroversi kah?
what u expect when you have a bunch of half past six against a bunch of qualified educated team!
Durian Guy
What is IDR (WPI)?
South Johor as a whole complements Singapore’s growth Strategy with enviroment that provides an alternative “quality of life”that is not readily avaible in the Island state”…tak cukup tanah boleh dengan rasmi mai kat Johor !!!.
Incentives In IDR?
a.Corporate tax exemption for 10 years-lepas itu tutup piii tak apa!
b.Exemption from FIC ruling – Apa suka buatlah!
c.Allowed to source capital globally -Yahudi pun tak apa janji ada duit!
d.Allowed to employ foreign workers without restrictions – bawak mai satu kapai Bangla tak ape tak cukup ambil satu kapai orang seberang mai-no problems!.
..never too late to run..Batu putih berputih mata..eloklah tu..gaduh lagi, gaduh lagi sesama sendiri. Kalau bak gaduh, kutuk mengutuk, rebut merebut kuasa UMNO/BN lah SUPER SPECIALIST. Padan muka! Gaduh lagi, gaduh lagi..nanti batu lain pula yang putih!
Menang sorak..kampung tergadai
Fikirkan pembangunan di Pulau Pisang..kalau tak dipatuk ular yang sama ..jangan banyak anak tapi tak terjaga..
Jangan jadi anjing yang takde gigi..kalau menyalak diketawakan orang
APA Kata Staff Petronas.
Dear all,
After reading all the chain mails and blogs, I feel called to reply, because of the relentless attacks and allegations — most of which are inaccurate or baseless — against PETRONAS.
PETRONAS’ STAFF SALARY & BONUS
1) The salaries paid to PETRONAS’ employees are not as high as people think. At best, they are just industry average. And these are not attractive enough for some who left PETRONAS to find work at other companies ( mai nly from the Middle East ) which are willing to pay more. Why do they pay more? The oil and gas industry worldwide has been facing acute shortage of qualified or experienced personnel, so most companies are willing to pay lots of money to entice and pinch staff from their competitors.
Bonus? There has NEVER been a bonus amounting to 6 months or 12 months throughout the 33 years. On average, it is 2 months. But don’t ever think we don’t deserve it. We more than deserve it. A lot of us work really hard, some in the most extreme of conditions. Those who have been to and worked in northern Sudan , for example, would testify that it’s like working in a huge blower oven. Southern Sudan , on the other hand, is almost all swamps and mud. Imagine having to go through that kind of heat, or waddling in muddy swamps, day in and day out.
QUALITY OF CRUDE & REFINED PRODUCTS
2) Malaysia produces about 600,000 barrels of crude oil per day (and about 100,000 barrels condensate). Of this crude volume, 339,000 barrels are refined locally for local consumption. The rest is exported (and yes, because it has lower sulphur content it fetches higher prices).
Malaysia also imports about 230,000 barrels of crude oil per day, mai nly from the Middle East , to be refined here. This crude oil contains higher sulphur and is less expensive (so the country gains more by exporting our crudes). In Malaysia , this crude is processed by PETRONAS at its second refinery in Melaka, and also by Shell at its Port Dickson refinery.
Different refineries are built and configurated to refine different types of crude. And each crude type yields different percentage of products (diesel, gasoline, kerosene, cooking gas etc) per barrel.
But most importantly, products that come out at the end of the refining process have the same good quality regardless of the crude types. That’s why PETRONAS, Shell and Exxon Mobil share the same pipeline to transport the finished products from their refineries to a distribution centre in the Klang Valley . The three companies collect the products at this centre accordingly to be distributed to their respective distribution networks. What makes PETRONAS’ petrol different from Shell’s, for example, is the additive that each company adds.
PETRONAS’ ROLE, FUNCTION & CONTRIBUTION
3) A lot of people also do not understand the role and function of PETRONAS, which is essentially a company, a business entity, which operates on a commercial manner, to mai nly generate income and value for its shareholder. In this case, PETRONAS’ shareholder is the Government.
In 1974, when PETRONAS was set up, the Government gave PETRONAS RM10 million (peanuts, right?) as seed capital. From 1974 to 2007, PETRONAS made RM570 billion in accumulated profits, and returned to the Government a total of RM335.7 billion. That is about 65% of the profits. That means for every RM1 that PETRONAS makes, 65 sen goes back to the Government.
Last year, PETRONAS made a pre-tax profit of RM86.8 billion. The amount given back to the Government (in royalty, dividends, corporate income tax, petroleum products income tax and export duty) was RM52.3 billion. The rest of the profit was used to pay off minority interests and taxes in foreign countries (about RM7.8 billion – PETRONAS now operates in more than 30 countries), and the re mai ning RM26.7 billion was reinvested. The amount reinvested seems a lot, but the oil and gas industry is technology- and capital-intensive. Costs have gone up exponentially in the last couple of years. Previously, to drill a well, it cost about US$3 million; now it costs US$7 million. The use of rigs was US$200,000 a day a couple of years ago; now it costs US$600,000 a day.
A lot of people also do not realise that the amount returned by PETRONAS to the Government makes up 35% of the Government’s total annual income, to be used by the Government for expenditures, development, operations, and yes, for the various subsidies. That means for every RM1 the Government makes, 35 sen is contributed by PETRONAS.
So, instead of asking what happens to PETRIONAS’ money or profits, people should be questioning how the money paid by PETRONAS to the Government is allocated.
CRUDE EXPORTS & FUEL PRICES
4) A lot of people also ask, why Malaysia exports its crude oil. Shouldn’t we just stop exporting and sell at cheaper prices to local refiners? If Malaysia is an oil exporting country, why can’t we sell petrol or diesel at cheaper prices like other oil producing countries in the Middle East ?
I guess I don’t have to answer the first couple of questions. It’s simple economics, and crude oil is a global commodity.
Why can’t we sell petrol and diesel at lower prices like in the Middle East ? Well, comparing Saudi Arabia and other big producers to Malaysia is like comparing kurma to durian, because these Middle Eastern countries have much, much, much bigger oil and gas reserves.
Malaysia has only 5.4 billion barrels of oil reserves, and about 89 trillion cubic feet of gas. Compare that to Saudi Arabia ‘s 260 billion barrels of oil and 240 trillion cubic feet of gas.
Malaysia only produces 600,000 barrels per day of oil. Saudi Arabia produces 9 million barrels per day. At this rate, Saudi Arabia ‘s crude oil sales revenue could amount to US$1.2 billion per day! At this rate, it can practically afford almost everything — free education, healthcare, etc, and subsidies — for its people.
But if we look at these countries closely, they have in the past few years started to come up with policies and strategies designed to prolong their reserves and diversify their income bases. In this sense, Malaysia (and PETRONAS) has had a good head start, as we have been doing this a long time.
Fuel prices in Malaysia is controlled by the Government based on a formula under the Automatic Pricing Mechanism introduced more than a couple of decades ago. It is under this mechanism that the complex calculation of prices is made, based on the actual cost of petrol or diesel, the operating costs, margin for dealers, margin for retail oil companies (including PETRONAS Dagangan Bhd) and the balancing number of duty or subsidy. No retail oil companies or dealers actually make money from the hike of the fuel prices. Oil companies pay for the products at market prices, but have to sell low, so the Government reimburses the difference — thus subsidy.
Subsidy as a concept is OK as long as it benefits the really deserving segment of the population. But there has to be a limit to how much and how long the Government should bear and sustain subsidy. An environment where prices are kept artificially low indefinitely will not do anyone any good. That’s why countries like Indonesia are more pro-active in removing subsidies. Even Vietnam (which is a socialist country, by the way) is selling fuel at market prices.
PETRONAS & TRANSPARENCY
5) I feel I also need to say something on the allegation that PETRONAS is not transparent in terms of its accounts, business transactions etc.
PETRONAS is first and foremost a company, operating under the rules and regulations of the authorities including the Registrar of Companies, and the Securities Commission and Bursa Malaysia for its listed four subsidiaries (PETRONAS Dagangan Bhd, PETRONAS Gas Bhd, MISC Bhd and KLCC Property Holdings Bhd.
PETRONAS the holding company produces annual reports which are made to whomever wants them, and are distributed to many parties and places; including to the library at the Parliament House for perusal and reading pleasure of all Yang Berhormat MPs (if they care to read). PETRONAS also makes the annual report available on its website, for those who bother to look. The accounts are duly audited.
The website also contains a lot of useful information, if people really care to find out. Although PETRONAS is not listed on Bursa Malaysia , for all intents and purposes, it could be considered a listed entity as its bonds and financial papers are traded overseas. This requires scrutiny from investors, and from rating agencies such as Standard & Poor and Moody’s.
BOYCOTT PETRONAS?
6) The last time I checked, this is still a democratic country, where people are free to spend their money wherever they like.
For those who like to see more of the money that they spend go back to the local economy and benefiting their fellow Malaysians, perhaps they should consider sticking to local products or companies.
For those who like to see that the money they spend go back to foreign shareholders of the foreign companies overseas, they should continue buying foreign products.