Saturday, January 16
News Aggregation Center | Social Listening Post
Like Haha Love Sad Angry
 
Kritik
  • Home
  • About Us
  • Categories
    • Arts and Literature
    • Banking and Financial
    • Business Services
    • Campaign
    • Consumer Products
    • Current Affairs
    • Economics
    • Education
    • Entertainment
    • Food and Beverage
    • Healthcare
    • International Affairs
    • Kritik’s Newsletters
    • Letters
    • Lifestyle
    • Opinion
    • Personal Development
    • Politics
    • Public Services
    • Science & Technology
    • Service Providers
    • Social Issues
    • Sports
    • Tourism and Hospitality
    • Transportation
    • Travel and Leisure
    • Utilities
    • Others
  • Hot Topics
  • Video
  • Contact Us
  • Feedback
  • FAQ?
user avatar
Register Log In
newsfeed; kritik; critique

Malaysia’s Petronas approves another US$2.4 billion government payout to battle COVID-19

Krit@@dm1N kritik
2 months ago
56 views

FILE PHOTO: A man wearing a protective mask crosses a street in front of Petronas Twin Towers, amid
A man crosses a street in front of the Petronas Twin Towers, amid the COVID-19 outbreak in Kuala Lumpur, Malaysia, Aug 11, 2020. (Photo: REUTERS/Lim Huey Teng)
04 Nov 2020 11:40AM (Updated: 04 Nov 2020 11:50AM)

KUALA LUMPUR: Malaysian state oil firm Petroliam Nasional Berhad (Petronas) said late on Tuesday (Nov 3) it had approved an additional RM10 billion (US$2.40 billion) dividend to the government to help fight the COVID-19 pandemic.

Earlier this week, the country’s economic minister had said Petronas would pay the government, its sole shareholder, RM34 billion in dividends this year.

The firm, which suffered its first loss in nearly five years during the second quarter, had initially pledged to pay RM24 billion and said any additional funding would depend on its affordability.

Petronas said it had approved the additional dividend, to be remitted by November-end, in response to “the unprecedented challenges brought about by the COVID-19 pandemic”, adding that it had fully paid the amount originally committed.

“In determining whether this additional dividend was affordable, the Petronas board first satisfied itself that the company could comfortably continue to fund its operations, service its debts and meet its obligations as well as invest in its future growth,” it said in an email late on Tuesday responding to Reuters’ queries.

“Petronas remains resolute in its efforts to preserve cash and strengthen our financial resilience during this unprecedented time.”

The dividend announcement comes as the government prepares to table its 2021 budget, aimed at cushioning the economic impact of the pandemic, on Friday. 

Source: Reuters/ad – https://www.channelnewsasia.com/news/business/malaysia-s-petronas-approves-another-us-2-4-billion-government-13460924


online shopping marketplace
Visit myhandyshoppe.com Latest online shopping experience

getafren.com gig worker marketplace
Visit getafren.com gig worker marketplace

mykerjaya.com job portal
Visit mykerjaya.com job seekers, employers, job portal

portal for fundraising events
Visit fundtogive.com Crowdsourcing, Fundraising, and Donation Portal
Categories: Current Affairs
Post reactions
Like (6)
Haha (0)
Love (1)
Sad (0)
Angry (0)
Related Posts
malaysian economy

Apa Akan Jadi Jika Belanjawan 2021 Ditolak di Dewan Rakyat?

2 months ago
water-woes-klang-valley

Water Crisis Again in Selangor!

2 months ago
water-woes-klang-valley

PRESS RELEASE ON LATEST WATER DISRUPTION CAUSED BY WATER CONTAMINATION IN SELANGOR

3 months ago
current affairs in malaysia

A Never Ending Story of Water Disruption in Klang Valley

3 months ago

Q & A on CMCO

3 months ago
news aggregation portal; social listening post

MACC nabs ex-ministry top official over RM118 mil tender

3 months ago
Recent Posts
  • Global spend on digital transformation to top $6.8 trillion in next two years
  • Commentary: A convenient state of emergency amid challenging times in Malaysia
  • Saudi Arabia unveils its vision for a city without cars and streets
  • Tips for maintaining momentum after making it through 2020
  • What did 2020 teach us about innovation?
Recent Comments
    Archives
    • January 2021
    • December 2020
    • November 2020
    • October 2020
    • September 2020
    • August 2020
    • July 2020
    • June 2020
    • May 2020
    • April 2020
    • March 2020
    • February 2020
    • January 2020
    • December 2019
    • November 2019
    • October 2019
    • September 2019
    • August 2019
    • July 2019
    • June 2019
    • May 2019
    • April 2019
    • March 2019
    • February 2019
    • January 2019
    • December 2018
    • November 2018
    • October 2018
    • September 2018
    • August 2018
    • July 2018
    • June 2018
    • May 2018
    • April 2018
    • March 2018
    • February 2018
    • January 2018
    • December 2017
    • November 2017
    • October 2017
    • September 2017
    • August 2017
    Categories
    • Advanced Technology
    • Agriculture
    • Arts & Literature
    • Banking and Financial
    • Business Services
    • Campaign
    • Consumer Products
    • Corporate News
    • Current Affairs
    • Customer Service
    • Cybersecurity
    • Digital Marketing
    • Economics
    • Editorial
    • Education
    • Entertainment
    • Entrepreneurship
    • Food and Beverage
    • Gig Economy
    • Healthcare
    • Human Resource
    • Humor
    • International Affairs
    • Investment
    • Leadership
    • Letters
    • Lifestyle
    • Opinion
    • Others
    • Personal Development
    • Politics
    • Productivity Tools
    • Public Services
    • Sales and Marketing
    • Scandals
    • Science and Technology
    • Service Providers
    • Smart City
    • Social Issues
    • Sports
    • Startup
    • Strategic Management
    • Tourism and Hospitality
    • Transportation
    • Travel and Leisure
    • Utilities
    Login with your Social Account
    Kritik © 2017-2019 ZOHL Web Services | All Rights Reserved.
    A Division of ZOHL Industries Sdn Bhd (351827-A)
    • Home
    • About Us
    • Content Policy
    • Privacy Policy
    • Terms of Use
    • Disclaimer
    • Contact Us

    This site is best viewed with 1400x900 resolution (all browsers) and with IE 10.0 version only