A Particle of Boredom

Yeah .. the entry title sound bad . isn’t it …. LOWER Profit… BUT READ BELOW LINE BY LINE……..

OVERVIEW OF PETRONAS FINANCIAL RESULT

Highlight of the hour;

Strong Revenue of RM264.2 Billion … ie extra 18.4 % from last year RM 223.1Billion. This surely will move up PETRONAS in Fortune 500

Revenue from International operation surpassed 100 Billions with RM 111.3 Billion. (sepatutnya ramai yang patut bersyukur sebab reserve dalam negara semakin sedikit).

Profit before tax downed of 6.7 % to RM 89.1 Billion due to low price and high cost environment BUT well within the decline by oil and gas majors which ranged within 6.4 % and 25.7 % during the same period.

Stronger Balance Sheet with total asset increasing by 14.4 % to RM 388 Billion by shareholder’s fund grew by 15.1 % to RM 232.1 billion

Return of Total Asset and Return of Average Capital Employed stood at 23.1% and 37.1 %, at Par with more established players in the Industry.

Export Revenue represent about 16% of Malaysia total export.

So, people of Malaysia can judge of how National Oil Company did for the past One Year …. aand I understand that some people still see the lower profit as their benchmark/talking point but for me one thing for sure …..

KUDOS to PETRONAS who is still bringing not some but huge SUM OF MONEY to Malaysia.. and now it’s up to government to do what ‘s the best to RAKYAT with this money..

Note:

a)You can download the full audited accounts at the PETRONAS website http://www.petronas.com.my.

Look for it under Company Background -> Investor Relations. Alleging that PETRONAS doesn’t release it’s audited accounts is a lie that has gone on for far too long.
The Annual Reports available online are for FY2002 – FY 2008.