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IT was a town hall meeting that they knew would be different. For the employees of Petroliam Nasional Bhd (Petronas) who started trickling into the Kuala Lumpur Convention Centre on Monday at about 3pm, they wanted to hear directly from the head honchos on the company’s future direction. And it was not just about oil prices but also the future of the president.
KUALA LUMPUR: Petroliam Nasional Bhd’s (Petronas) net profit rose 38% to RM21.06bil in the second quarter ended June 30, 2014 from RM15.26bil a year ago but weaker crude oil prices would weigh on its earnings in the second half.
ICON Offshore Bhd is coming to the market at a price-to-earnings multiple of 18 to 19 times its estimated 2014 earnings – a premium over the sector average of 13 times.
PETALING JAYA: Petroliam Nasional Bhd has green-lit its much-awaited final investment decision for the Pengerang Integrated Complex in south Johor with a commitment of US$27bil (RM88.56bil), but the project will start up a year later than expected in 2019.