Now this is a very interesting topic that caught my attention when I read The Star online. I’m not sure whether should I find this a topic a laugh or should I be embarrassed. But feeling both can be ironic. I feel that, with this news splashed over the papers, can make the whole country a laughing stock. Imagine that a huge multi-national company dealing in oil can actually go bust or is predicted to go bust. What more when the government has some sort of share in it? Does this mean that the government has been ignoring the company? Or does it mean that, they have been managing it poorly? Wouldn’t it be their responsibility to make sure that they hire the appropriate person with the capability to run the organization as it should be?
In the news, it is said that the CEO, Tan Sri Hassan Marican warned that many national petroleum companies in the world have ceased to exist or were in financial trouble today because all their profits were taken away from them. So far, there have been a couple of companies like BP merging to become BHP or Mobil with Esso to become ExxonMobil. But is there any other oil company in the world willing to take the big risk of doing mergers with Petronas? I for one wouldn’t. Imagine having to merge and paying the blardy government billions and billions in taxes. What is to be seen in the future for Petronas, will definitely be a huge impact towards the citizen of Malaysia.
Is that why the citizens of this country has been made to suffer just because of their incompetence? Makes me totally want to puke with all these “pitiful” stories to get people’s sympathy. Aww!! You poor poor company. Paying so much taxes till you’re almost going bust. Do you need any help? Need us to pay more taxes to subsidize your holidays overseas?! Dream on!
5 comments:
While I feel sorry to hear about your hardship, I'm not sure you're seeing the whole picture either.
Anyone with a bit of economic sense knows that you don't want to tax a company to death - you have to leave sufficient profit for reinvestment purposes.
In the meantime, PETRONAS' contributions to the Government in the form of royalties, duties, taxes and dividend payments have increased in line with the rising oil price.
That was the CEO's point.
hehe
it's hassan mErican...
yes, this is by far the most absurd thing i have ever heard...
Anonymous: Oh please. Economic sense does not prevail in this country, doesn't make sense even. With politicians like we have in this country, nothing makes sense.
Zewt: Yea. Totally absurd and out of this world.
I think I have a new stand. We should just have smaller federal govt, more power to the state and local govts and people should be allowed to carry firearms unhindered.
That way, the govt will think twice about doing something funny...
myop101: Yes. I totally agree. That is a better idea. We after all pay them their salary. So they should at least try to accomodate us.
Mcmercedez: Sigh. If they go bankrupt, easiest thing is make the people pay more taxes, increase water tariffs, electricity. Anything to get more $.
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