Star Online - Report: Former premier Abdullah expected to be dropped as Petronas advisor:
PETALING JAYA: Former premier Tun Abdullah Ahmad Badawi is expected to take leave from his role as advisor in Petroliam Nasional Bnd (Petronas) soon, The Malaysian Reserve reported.
It quoted Prime Minister Tun Dr Mahathir Mohamad during an interview that the Government had issued a notice of termination to Abdullah.
“He has been given a notice that his term is (up) in the course of the restructuring. He will be dropped,” Dr Mahathir told The Malaysian Reserve.
Abdullah, who was appointed to the role in April 2016, will be relieved of his position in the state oil firm during the course of Petronas’ upcoming restructuring exercise.
Dr Mahathir said there is no need for an advisory role at Petronas as the company has performed well and its achievements are recognised internationally.
“Petronas is actually rated by investors as a very well-run company. That is because the people there are…well, we don’t see any signs of stealing money and all that. [...]
The Malaysia Reserve reported that Abdullah's appointment as Petronas advisor was a clear political move in reaction to Dr Mahathir’s call for the resignation of former premier Datuk Seri Najib Tun Razak on corruption allegations. [...]
The Malaysia Reserve reported that under the Pakatan Harapan regime, the reliance on Petronas is expected to increase in order to cope with the country’s shortage in income and excess in debt.
Petronas’ operating profit has recovered in recent years from a low of RM20.8bil in 2015 to RM45.5bil in 2017.
Its cashflow has also improved over the same time-frame from RM69.6bil to RM75.7bil, mainly due to higher oil prices and lower spending. [...]
“He (Abdullah) is going to be retired because well, we don’t need an advisor anyway. I was advisor for a long time but of course, when I was advisor, I know a little about the business so I do give advice.
“But advisors sometimes don’t give advice, so I think we would be wasting money if we are just paying as a way to give some money to people,” Dr Mahathir said in the interview.
It quoted Prime Minister Tun Dr Mahathir Mohamad during an interview that the Government had issued a notice of termination to Abdullah.
“He has been given a notice that his term is (up) in the course of the restructuring. He will be dropped,” Dr Mahathir told The Malaysian Reserve.
Abdullah, who was appointed to the role in April 2016, will be relieved of his position in the state oil firm during the course of Petronas’ upcoming restructuring exercise.
Dr Mahathir said there is no need for an advisory role at Petronas as the company has performed well and its achievements are recognised internationally.
“Petronas is actually rated by investors as a very well-run company. That is because the people there are…well, we don’t see any signs of stealing money and all that. [...]
The Malaysia Reserve reported that Abdullah's appointment as Petronas advisor was a clear political move in reaction to Dr Mahathir’s call for the resignation of former premier Datuk Seri Najib Tun Razak on corruption allegations. [...]
The Malaysia Reserve reported that under the Pakatan Harapan regime, the reliance on Petronas is expected to increase in order to cope with the country’s shortage in income and excess in debt.
Petronas’ operating profit has recovered in recent years from a low of RM20.8bil in 2015 to RM45.5bil in 2017.
Its cashflow has also improved over the same time-frame from RM69.6bil to RM75.7bil, mainly due to higher oil prices and lower spending. [...]
“He (Abdullah) is going to be retired because well, we don’t need an advisor anyway. I was advisor for a long time but of course, when I was advisor, I know a little about the business so I do give advice.
“But advisors sometimes don’t give advice, so I think we would be wasting money if we are just paying as a way to give some money to people,” Dr Mahathir said in the interview.
Mahathir was himself advisor to Petronas for years (2003 to 2016, that's 13 years), until he was dropped for opposing the PM of that time. He had joined opposition leaders in signing a “Citizen’s Declaration”, calling for PM Najib’s resignation.
Then, the PM's Office stated: “The Cabinet decided that, since Tun Mahathir is no longer supporting the current Government, he should no longer hold any position related to the Government.”
It was Mahathir's right to voice opposition to Najib being the PM, and on that same token, it was then-PM Najib's right to terminate Mahathir's advisory role to Petronas since he no longer supported the government of the day.
By Malaysian tradition, the office of Petronas advisor is a prestigious post reserved only for a former prime minister. It started with Tun Hussein Onn in 1981 after he retired. Then Mahathir took over that role when he retired in mid-2003. He held it for 13 years and enjoyed its perks and privileges including use of an office on the 86th floor of the Twin Towers, a staff, and Petronas jetplane. The remuneration would be around RM16,000 per month with additional allowances. But in the main, it was just a national prestigious appointment for former PM.
Following Mahathir's political fallout with the Najib government in 2016, he was removed and former PM AAB appointed.
But consider this - has AAB ever said anything bad about Mahathir in the way Mahathir has against Tunku, AAB and Najib, the last being the logical cause of his removal as advisor to Petronas?
We can safely say AAB has in general been polite, civil and courteous to Mahathir though I feel the latter didn't/doesn't deserve that courtesy for his constant insult of AAB, even after AAB had left the PM's post. Recently last Hari Raya, AAB had even paid Mahathir a courtesy visit.
Yet Mahathir has now terminated AAB's advisory role to Petronas on the flimsiest of bullshit, that Petronas now no longer requires an advisor. How imperialistically Mahathir has decided.
Poor AAB should have been left in that prestigious role as per tradition, which Mahathir enjoyed for 13 years, but no, Mahathir has such a vindictive heart that he had to humiliate AAB although the 5th PM has always displayed ultimate courtesy to him.
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busuk hati |
He has also been particularly mean when he a 93-year old man could brazenly say: “He (Abdullah) is going to be retired because well, we don’t need an advisor anyway. I was advisor for a long time but of course, when I was advisor, I know a little about the business so I do give advice.
“But advisors sometimes don’t give advice, so I think we would be wasting money if we are just paying as a way to give some money to people” ...
... as well as pompous in showing himself as being able to provide advice to Petronas whilst insinuating mockingly that AAB couldn't.
As a former PM he enjoyed the perks and privileges of a Petronas advisor for 13 years without anyone grudging his due rewards, whilst AAB is only in his second year at Petronas, and suddenly His Imperialistic Majesty decides that Petronas no longer needs an advisor, which in the first place is only a prestigious ceremonial position for former PMs.
And he even has the thick-skin to talk about 'saving money' for Petronas.
And he even has the thick-skin to talk about 'saving money' for Petronas.
OK then, let's see what advice he gave to Petronas both as a PM (1981 - 2003) and as an advisor (2003 - 2016).
Reuters reported in 2012 (extracts):
As state oil companies go, Petronas has a good reputation for governance. A 2011 World Bank working paper on governance and performance of national oil companies ranked Petronas slightly above the global average.
But it has been called upon to bankroll some questionable projects, both under Najib and his predecessors.
Twice - in 1984 and 1989 - Mahathir asked Petronas to bail out scandal-ridden Bank Bumiputra Bhd from collapse. In those two rescues, Petronas injected a total of 3.3 billion ringgit into the bank.
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Anwar Ibrahim's falling out with Mahathir began when Anwar as FM refused to extend a Petronas loan of RM2 Billion to Mirzan, but limited that to only RM1 Billion but no one fCk around with Mahathir's sons that's why he hates Anwar, AAB (for KJ's entanglement with Mukhriz over a contract) and Najib for not supporting Mukhriz rise up in UMNO |
Mahathir denied he had bailed out his son. Petronas “drove a very hard bargain” and ended up turning a profit on the deal, he insisted. Petronas has repeatedly declined to discuss the bailouts.
Of course, as per his usual bull-logic (denied he had bailed out his son. Petronas “drove a very hard bargain”), anyone with a cash flow problem could walk easily into Petronas and ask for a RM1 Billion loan.
And don't forget, Petronas was required to build this at a cost in 1994 of US1.2 Billion (nearly RM5 Billion), with a stipulation it must be completed in 6 years.
Why in 6 years? Just as he retired from his 4th Reich?
