Transparency required in Petronas accounts

Founded in 1974, Petronas manages the country’s oil and gas industry and is rated by Forbes as one of the biggest corporations in the world.

It is wholly government-owned and makes billions but its accounts are shrouded in secrecy and only the incumbent Prime Minister is privy to them.

Petronas is a national asset and the Government needs the dividends and tax to finance its expenditure, yet there is no transparency or disclosure of its accounts. It should no longer be secret and the accounts must be made accountable to Parliament.

To epitomise the new regime’s determination to return power to the people and be transparent, this valuable asset must receive priority to be scrutinised and audited.

CYRIL

Penang