In the past, Petronas has always been treated differently compared to the other GLCs because it is a guardian of the country’s oil and gas reserves and a major contributor to the Federal Government coffers. Apart from MISC, Petronas also controls four other listed companies, which are all heavyweights on the stock exchange.
THE market capitalisation of MISC Bhd
is RM34.5bil. It is no small company and one of the global heavyweights in tanker services to support the oil and gas industry. Changes to the board are something every stakeholder looks at seriously.
It cannot have a situation where a new chairman quits just after 17 days into his appointment. Tan Sri Noh Omar was appointed on June 1 and quit on Thursday. No reason was given except that the Umno MP from Tanjong Karang decided to quit after a discussion with Prime Minister Tan Sri Muhyiddin Yassin.
Limited time offer:
Just RM5 per month.
