Petronas caps dividends to government at 30%

Petronas caps dividends to government at 30%Petronas, Malaysia’s state-backed energy corporation, has announced a new deal with the government that would have Petronas pay no more than 30% of its profits in dividends the government.  This year, the RM30 billion that Petronas paid was close to 69% of its net profits, and last year they paid about 63%.  The company hopes that this new deal will create “certainty and predictability” for them, according to Vice President of Finance Datuk George Ratilal.

 



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Petronas, Malaysia’s state-backed energy corporation, has announced a new deal with the government that would have Petronas pay no more than 30% of its profits in dividends the government.  This year, the RM30 billion that Petronas paid was close to 69% of its net profits, and last year they paid about 63%.  The company hopes that this new deal will create “certainty and predictability” for them, according to Vice President of Finance Datuk George Ratilal.  

Petronas caps dividends to government at 30%Petronas, Malaysia’s state-backed energy corporation, has announced a new deal with the government that would have Petronas pay no more than 30% of its profits in dividends the government.  This year, the RM30 billion that Petronas paid was close to 69% of its net profits, and last year they paid about 63%.  The company hopes that this new deal will create “certainty and predictability” for them, according to Vice President of Finance Datuk George Ratilal.

 



Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

$
Personal Info

Donation Total: $10.00

 

 

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