DOCSLIB.ORG

PETRONAS Capital Limited Petroliam Nasional Berhad

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
PETRONAS Capital Limited Petroliam Nasional Berhad http://www.oblible.com LISTING CIRCULAR PETRONAS Capital Limited (incorporated in Labuan, Malaysia with limited liability) 7750,000,000 6.375% GUARANTEED NOTES DUE 2009 US$1,300,000,000 7.000% GUARANTEED NOTES DUE 2012 US$750,000,000 7.875% GUARANTEED NOTES DUE 2022 unconditionally and irrevocably guaranteed by Petroliam Nasional Berhad (incorporated in Malaysia with limited liability) The 6.375% Guaranteed Notes due 2009 in the aggregate principal amount of 7750,000,000 (the ""EUR 2009 Notes''), the 7.000% Guaranteed Notes due 2012 in the aggregate principal amount of US$1,300,000,000 (the ""USD 2012 Notes'') and the 7.875% Guaranteed Notes due 2022 in the aggregate principal amount of US$750,000,000 (the ""USD 2022 Notes'' and, together with the EUR 2009 Notes and the USD 2012 Notes, the ""Notes'') will be issued by PETRONAS Capital Limited (""PETRONAS Capital Limited'' or the ""Issuer'') and will be unconditionally and irrevocably guaranteed by Petroliam Nasional Berhad (""PETRONAS''). PETRONAS Capital Limited is a wholly-owned subsidiary of PETRONAS and has been established solely for the purpose of issuing the Notes and other obligations to Ñnance the operations of PETRONAS. PETRONAS Capital Limited will provide the proceeds of the oÅering to PETRONAS or its subsidiaries and associated companies. The Notes will be unsecured obligations of PETRONAS Capital Limited. PETRONAS' guarantee (the ""Guarantee'') will be an unsecured obligation of PETRONAS and will be eÅectively subordinated to the secured obligations of PETRONAS and its subsidiaries. Unless previously repurchased, cancelled or redeemed, the EUR 2009 Notes will mature on May 22, 2009, the USD 2012 Notes will mature on May 22, 2012, and the USD 2022 Notes will mature on May 22, 2022. The EUR 2009 Notes, the USD 2012 Notes and the USD 2022 Notes will be redeemed at 100% of their respective principal amounts on their respective maturity dates plus accrued and unpaid interest, if any. The EUR 2009 Notes will bear interest at the rate of 6.375% per year, payable annually in arrears on May 22 of each year. The USD 2012 Notes will bear interest at the rate of 7.000% per year, payable semi-annually in arrears on May 22 and November 22 of each year. The USD 2022 Notes will bear interest at the rate of 7.875% per year, payable semi-annually in arrears on May 22 and November 22 of each year. The Ñrst interest payment in respect of the EUR 2009 Notes, the USD 2012 Notes and the USD 2022 Notes will be made on May 22, 2003, November 22, 2002 and November 22, 2002, respectively. The Notes will not be redeemable in whole or in part prior to maturity except upon the occurrence of certain events related to Malaysian or Labuan tax law. See ""Description of the NotesÌSpecial Tax Redemption.'' Investing in the Notes involves risk. See ""Investment Considerations'' beginning on page 11. EUR 2009 NOTESÌPRICE 99.561% AND ACCRUED INTEREST, IF ANY USD 2012 NOTESÌPRICE 99.837% AND ACCRUED INTEREST, IF ANY USD 2022 NOTESÌPRICE 99.532% AND ACCRUED INTEREST, IF ANY Application has been made to list the Notes on the Luxembourg Stock Exchange. PETRONAS Capital Limited cannot guarantee that the application to the Luxembourg Stock Exchange will be approved. The oÅering and settlement of the Notes is not conditional on obtaining the listing. The Notes have not been registered under the United States Securities Act of 1933, as amended (the ""Securities Act''), and may not be oÅered or sold within the United States or to, or for the account or beneÑt of, U.S persons (as deÑned in Regulation S under the Securities Act (""Regulation S'')) except that the Notes may be oÅered and sold outside the United States to non- U.S. persons in reliance on Regulation S and within the United States to qualiÑed institutional buyers (as deÑned in Rule 144A under the Securities Act (""Rule 144A'')) in reliance on the exemption from the registration requirements of the Securities Act provided by Rule 144A or to a limited number of institutional ""accredited investors'' (as deÑned in Regulation D under the Securities Act (""Regulation D'')) in accordance with any other applicable law. For a description of these and certain further restrictions on oÅers and sales of the Notes, and the distribution of this Listing Circular, see ""Transfer Restrictions'' and ""Plan of Distribution.'' The closing of the oÅering of the Notes was completed on May 22, 2002 by delivery of the EUR 2009 Notes through the facilities of Euroclear Bank S.A./N.V., as operator for the Euroclear System (""Euroclear''), and Clearstream Banking, societπ eπ anonyme (""Clearstream''), and the USD 2012 Notes and the USD 2022 Notes through the facilities of The Depository Trust Company, in each case against payment. MORGAN STANLEY Global Coordinator Joint Bookrunners Joint Bookrunners U.S. Dollar Tranches Euro Tranche MORGAN STANLEY MORGAN STANLEY SALOMON SMITH BARNEY BARCLAYS CAPITAL HSBC June 26, 2002 http://www.oblible.com TABLE OF CONTENTS Page Page Notice to New Hampshire Residents ÏÏÏÏÏÏ i Share Ownership ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 60 Enforceability of Civil LiabilitiesÏÏÏÏÏÏÏÏÏÏ iii Relationship with the Government of Available Information ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ iii Malaysia ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 60 Exchange RatesÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ iv Description of the Notes ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 61 Forward Looking Statements and Taxation ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 74 Associated Risks ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ v Plan of DistributionÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 77 Summary ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 1 Transfer RestrictionsÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 81 Glossary of Oil and Gas Industry Terms ÏÏÏ 10 Validity of the Notes ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 82 Investment Considerations ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 11 Independent AccountantsÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 82 Use of ProceedsÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 14 General Information ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 83 CapitalizationÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 14 Summary of SigniÑcant DiÅerences Selected Consolidated Financial Data ÏÏÏÏÏ 15 Between Malaysian GAAP and Management's Discussion and Analysis of U.S. GAAP ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 85 Financial Condition and Results of Index to Financial StatementsÏÏÏÏÏÏÏÏÏÏÏÏ F-1 Operations ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 18 Annex AÌForm of Letter to be Delivered Business ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 31 by Accredited Investors ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ A-1 PETRONAS Capital Limited ÏÏÏÏÏÏÏÏÏÏÏÏ 57 Annex BÌMalaysia ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ B-1 Management ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 58 You should rely only on the information contained in this Listing Circular. PETRONAS and PETRONAS Capital Limited have not authorized anyone to provide you with information that is diÅerent. This Listing Circular may only be used where it is legal to sell these securities. The information in this Listing Circular may only be accurate on the date of this Listing Circular. In connection with the issue and distribution of any of the Notes, Morgan Stanley & Co. International Limited or any agent of it may overallot or eÅect transactions with a view to supporting the market price of the Notes at a level higher than that which might otherwise prevail. There is no obligation on Morgan Stanley & Co. International Limited or any agent of it to do so. Such stabilizing, if commenced, may be discontinued at any time and must be brought to an end after a limited period. NOTICE TO NEW HAMPSHIRE RESIDENTS NEITHER THE FACT THAT A REGISTRATION STATEMENT OR AN APPLICATION FOR A LICENSE HAS BEEN FILED UNDER CHAPTER 421-B OF THE NEW HAMPSHIRE REVISED STATUTES WITH THE STATE OF NEW HAMPSHIRE NOR THE FACT THAT A SECURITY IS EFFECTIVELY REGISTERED OR A PERSON IS LICENSED IN THE STATE OF NEW HAMP- SHIRE CONSTITUTES A FINDING BY THE SECRETARY OF STATE THAT ANY DOCUMENT FILED UNDER RSA 421-B IS TRUE, COMPLETE AND NOT MISLEADING. NEITHER ANY SUCH FACT NOR THE FACT THAT AN EXEMPTION OR EXCEPTION IS AVAILABLE FOR A SECURITY OR A TRANSACTION MEANS THAT THE SECRETARY OF STATE HAS PASSED IN ANY WAY UPON THE MERITS OR QUALIFICATIONS OF, OR RECOMMENDED OR GIVEN APPROVAL TO, ANY PERSON, SECURITY, OR TRANSACTION. IT IS UNLAWFUL TO MAKE, OR CAUSE TO BE MADE, TO ANY PROSPECTIVE PURCHASER, CUSTOMER, OR CLIENT ANY REPRESENTATION INCONSISTENT WITH THE PROVISIONS OF THIS PARAGRAPH. i PETRONAS and PETRONAS Capital Limited are furnishing this Listing Circular solely for the purpose of listing the Notes on the Luxembourg Stock Exchange. Having made all reasonable inquiries, PETRONAS and PETRONAS Capital Limited conÑrm that this Listing Circular contains all information with respect to PETRONAS, PETRONAS Capital Limited and the Notes which is material in the context of the issue and the oÅering of the Notes, and that such information is true and accurate in all material respects and is not misleading, that the opinions and intentions expressed herein are honestly held and that PETRONAS and PETRONAS Capital Limited are not aware of any facts the omission of which would make any such information or the expression of any such opinions and intentions materially misleading. The information set forth in ""Annex BÌMalaysia'' includes information and data that PETRONAS obtained from publicly available sources. PETRONAS accepts responsibility for accurately reproducing such informa- tion, but accepts no further or other responsibility in respect of such information set forth in Annex B. None of PETRONAS, PETRONAS Capital Limited or the managers has authorized anyone to give any information or to make any representation not contained in this Listing Circular in connection with the listing of the Notes and, if given or made, such information or representation must not be relied upon as having been authorized by any of PETRONAS, PETRONAS Capital Limited or the managers or any of their respective aÇliates. Neither the delivery of this Listing Circular nor any oÅer made on the basis hereof shall, under any circumstances, create any implication that the information herein is correct at any time subsequent to the date hereof. The distribution of this Listing Circular and the oÅering of the Notes in certain jurisdictions may be restricted by law. Persons into whose possession this Listing Circular comes must inform themselves about and observe any such restrictions.
Load more

Recommended publications
  • KEKAL ABADI Buletin Perpustakaan Universiti Malaya University of Malaya Library Bulletin
    KEKAL ABADI Buletin Perpustakaan Universiti Malaya University of Malaya Library Bulletin Vol. 23 No. 1 June 2004 ISSN 0127-2578 University of Malaya Library 50603 Kuala Lumpur, Malaysia. Tel: 603-7956 7800 Fax: 603-7957 3661 URL: http://www.umlib.um.edu.my Lembaga Pengarang / Editorial Board (2004) Azrizal Ismail, Datin Adlina Norliz Razali, Janaki Sinnasamy, Maziah Salleh, Noraslinda Sanusi, Ratnawati Sari Mohd Amin, Zahril Shahida Ahmad, Zanaria Saupi Udin Penyelaras / Coordinator Tunku Noraidah Tuanku Abdul Rahman Penasihat / Adviser Noriyah Md Nor, Ketua Pustakawan / Chief Librarian Desktop Publishing Zanaria Saupi Udin Penerbit / Publisher Perpustakaan Universiti Malaya 50603, Kuala Lumpur Malaysia Telefon / Telephone 603-79673206, 603-79675887, 603-79578058, 603-79567800 Fax 603-79573661 Emel/E-mail [email protected] URL http://www.umlib.um.edu.my Pencetak / Printer Jabatan Penerbitan, Universiti Malaya 50603, Kuala Lumpur Malaysia. To be included in the mailing list, please send name of organization and address to [email protected] with the word subscribe in the subject line. Contribution of articles relating to the library science discipline are welcome subject to the approval of the Editorial Board. KEKAL ABADI Jil. 23 Bil. 1 Jun 2004 / Vol. 23 Issue 1 June 2004 ISSN 0127- 2578 KANDUNGAN / CONTENTS Accountability in Library Management : Issues and 1 Strategies for the 21st Century Laporan Persidangan 15 Conference Reports Ulasan Buku 22 Book Reviews Kertas Kerja Persidangan 24 Conference Papers Berita Ringkas 75 News in Brief Hal Ehwal Staf 76 Staff Matters Kekal Abadi 23 (1) 2004 ACCOUNTABILITY IN LIBRARY MANAGEMENT : st 1 ISSUES AND STRATEGIES FOR THE 21 CENTURY Dato’ Dr.
    [Show full text]
  • The Covid-19 Outbreak Is a Double-Barrelled Threat - Our Very Lives and Livelihood Are in Danger
    Alvin Dear PM, PP19507/11/2019 (035148) APRILAPRIL 2020 2020 Chong we need 0404 soars high to be more in showbiz transparent despite the P. 6 obstacles. Read about it in PURSUIT 04 PP 19339/05/2018(034908) 9 772289 234001 www.focusmalaysia.my MONTHLY APRIL 2020 MALAYSIA RM8 | ISSUE 04 Conversations Four airlines Focus List Push for Liew ask for Finding banking Chin financial aid undervalued mergers on Tong from MoF stocks the cards? P.14&16 P.18,20&22 P.24-25 P.36 Softening the blow The Covid-19 outbreak is a double-barrelled threat - our very lives and livelihood are in danger. Are the government’s efforts enough to mitigate the impact of the virus? P.8-10&12 2 contents FocusM | April 2020 • How is the Covid-19 pandemic affecting Malaysia, from people’s lives to their livelihood? • What can we expect from Covid-19, and what can we do to mitigate the risks? P.8-10,12 26 30-31 Mainstream 35 Points2Ponder: What will be your priority, transport minister? 4 Supply chain disrupted, says Westports CEO 36 A push for banking consolidation on the horizon? 6 PoundFoolish: Dear Prime Minister, we need more transparency Property 6 Will FGV’s obligation to Felda scuttle its turnaround? 26 Partial certification unacceptable for housing projects 14-16 Conversations: In search of a Malaysian identity 27 Will more theme parks close down? 18 AirAsia, MAB, Malindo, Firefly seek financial aid from MoF, say sources 28-29 How Covid-19 and politics affect the property sector 20 QuestionTime: Should airlines in Malaysia be saved? 30-31 Malls must evolve to stay
    [Show full text]
  • PETRONAS Capital Limited Petroliam Nasional Berhad
    OFFERING CIRCULAR (AND LUXEMBOURG LISTING PROSPECTUS) PETRONAS Capital Limited (incorporated in Labuan, Malaysia with limited liability) US$3,000,000,000 5.25% GUARANTEED NOTES DUE 2019 unconditionally and irrevocably guaranteed by Petroliam Nasional Berhad (incorporated in Malaysia with limited liability) PRICE 99.447% PLUS ACCRUED INTEREST, IF ANY, FROM AUGUST 12, 2009 The 5.25% Guaranteed Notes due 2019 in the aggregate principal amount of US$3,000,000,000 (the “Notes”) will be issued by PETRONAS Capital Limited (“PETRONAS Capital Limited” or the “Issuer”) and will be unconditionally and irrevocably guaranteed by Petroliam Nasional Berhad (“PETRONAS”). PETRONAS Capital Limited is a wholly-owned special purpose finance subsidiary of PETRONAS, which has been established for the purpose of issuing debt securities and other obligations from time to time to finance the operations of PETRONAS. PETRONAS Capital Limited will provide the proceeds of the offering to PETRONAS or its subsidiaries and associated companies. The Notes will be unsecured obligations of PETRONAS Capital Limited and will rank pari passu among themselves and with all of its other unsecured and unsubordinated obligations. PETRONAS’ guarantee (the “Guarantee”) will be an unsecured obligation of PETRONAS, will rank pari passu with its other unsecured and unsubordinated obligations and will be effectively subordinated to the secured obligations of PETRONAS and the obligations of its subsidiaries. Unless previously repurchased, cancelled or redeemed, the Notes will mature on August 12, 2019. The Notes will be redeemed at 100% of their principal amount plus accrued and unpaid interest, if any, on the maturity date. The Notes will bear interest at a rate of 5.25% per year, payable semi-annually in arrears on February 12 and August 12 of each year.
    [Show full text]
  • Malaysia Brunei
    COUNTRY REPORT Malaysia Brunei The full publishing schedule for Country Reports is now available on our web site at http://www.eiu.com/schedule. 3rd quarter 1999 The Economist Intelligence Unit 15 Regent St, London SW1Y 4LR United Kingdom The Economist Intelligence Unit The Economist Intelligence Unit is a specialist publisher serving companies establishing and managing operations across national borders. For over 50 years it has been a source of information on business developments, economic and political trends, government regulations and corporate practice worldwide. The EIU delivers its information in four ways: through subscription products ranging from newsletters to annual reference works; through specific research reports, whether for general release or for particular clients; through electronic publishing; and by organising conferences and roundtables. The firm is a member of The Economist Group. London New York Hong Kong The Economist Intelligence Unit The Economist Intelligence Unit The Economist Intelligence Unit 15 Regent St The Economist Building 25/F, Dah Sing Financial Centre London 111 West 57th Street 108 Gloucester Road SW1Y 4LR New York Wanchai United Kingdom NY 10019, US Hong Kong Tel: (44.20) 7830 1000 Tel: (1.212) 554 0600 Tel: (852) 2802 7288 Fax: (44.20) 7499 9767 Fax: (1.212) 586 1181/2 Fax: (852) 2802 7638 E-mail: [email protected] E-mail: [email protected] E-mail: [email protected] Website: http://www.eiu.com Electronic delivery EIU Electronic New York: Lou Celi or Lisa Hennessey Tel: (1.212) 554 0600 Fax: (1.212)
    [Show full text]
  • GROWING MALAYSIA's LONG-TERM WEALTH the KHAZANAH REPORT 2018 3 Who We Are
    GROWING MALAYSIA’s LONG-TERM WEALTH The Khazanah Report 2018 highlights the goals, strategies and vision embraced by Khazanah nasional Berhad (Khazanah) in our role as the sovereign wealth fund of Malaysia. Khazanah is a Malay word of arabic origin, which means "treasure". The word can also be found in other languages carrying the same meaning. The name Khazanah nasional put together means "national treasure". The cover of The Khazanah Report 2018 draws inspiration from the Khazanah logo, which is a cembul, a Malay traditional jewellery box. The cembul represents the organisation’s role as one of the trustees of the nation’s assets. The horizontal chevrons symbolise our investments across multiple asset classes, and our mandate to grow the nation's long-term wealth. This report is available online at www.khazanah.com.my May 2019 Scan here to visit The Khazanah Report 2018 microsite @Khazanah_MY Khazanah Nasional Berhad l KHAZANAH NASIONAL BERHAD CONTENTS INTRODUCTION 3 Who We are and our Mandate 4 2018 In review CHAPTER CHAPTER 01OVERVIEW OF AN 02FINANCIAL REVIEW INSTITUTION 24 Financial Highlights 8 Message from the Chairman 26 Independent Auditors’ Report 10 Governance and 27 Selected Financial Indicators accountability Framework 14 Board of Directors 16 Message from the Managing Director 18 Senior Management THE KHAZANAH REPORT 2018 1 CHAPTER 03OUR INVESTMENTS 30 Growing Malaysia’s long-Term Wealth 33 Selected Companies in our Portfolio CHAPTER 04PEOPLE & KNOWLEDGE 36 Our People, our Values 38 Khazanah as a learning organisation 40 Society and Community 2 KHAZANAH NASIONAL BERHAD GROWING MALAYSIA'S LONG-TERM WEALTH THE KHAZANAH REPORT 2018 3 WHO WE ARE KHAZANAH IS THE SOVEREIGN WEAltH FUND OF MALAYSIA.
    [Show full text]
  • Ybhg Tan Sri Dato' Seri Mohd Hassan Marican
    August 2008 www.micpa.com.my KDNPP 3809/3/2009 The Malaysian Accountant AUGUST 2008 EDITORIAL BOARD Datuk Robert Yong Kuen Loke (Chairman) Dato’ Nordin Baharuddin Dato’ Hj Maidin Syed Ali Loh Lay Choon Ng Kim Tuck See Huey Beng Sam Soh Siong Hoon Tan Chin Hock Chia Kum Cheng (Co-opted) Chong Kian Soon (Co-opted) PRINCIPAL OFFICE BEARERS President Dato’ Nordin Baharuddin Vice President Dato’ Ahmad Johan Mohammad Raslan PRINCIPAL OFFICERS Executive Director FEATURE page 3 Foo Yoke Pin ([email protected]) Technical Manager PERSPECTIVE 2 Melissa Yeoh ([email protected]) Education & Research Manager FEATURES Jenny Chua ([email protected]) Malaysian Tax Updates 3 Public Affairs & Communications Manager Corporate Governance Analysis in Malaysia 7 Vicky Rajaretnam ([email protected]) Overview of Takaful in Malaysia 10 Marketing Manager Corporate Governance for Takaful 12 Evelyn Lim ([email protected]) Examination Officer INSTITUTE NEWS Lee How Lai ([email protected]) MICPA Turns 50 14 Assistant Manager, Membership Recipient of Anugerah Presiden 2008: Salyasusanti Achom YBhg Tan Sri Dato’ Seri Mohd Hassan Marican 17 ([email protected]) November 2008 Examination 20 Single Copy: RM7.50 May 2008 Examination Results 21 Subscription: 6 issues Continuing Professional Development (CPD) Programmes 22 RM43.50 per annum Career Talks at Secondary Schools 22 (including P&P within Malaysia only) Career Fairs and Exhibitions 23 The Malaysian Accountant is published Collaboration and Career Talks at Universities 24 by: The Malaysian Institute of MICPA–BURSA MALAYSIA Business Forum 2008 24 Certified Public Accountants (3246-U) 15, Jalan Medan Tuanku YOUNG CPA 50300 Kuala Lumpur, Malaysia Tel: 03-2698 9622 Fax: 03-2698 9403 Young CPA Malaysia Symposium 2008 E-mail: [email protected] - Charting the Future of Accounting and Finance Professionals 18 Website: www.micpa.com.my PROFESSIONAL NEWS Note: The views expressed in this journal are not MASB Update 26 necessarily those of the Institute or the Editorial Board.
    [Show full text]
  • Petronas Annual Report 2007   Petronas Annual Report 2007
    PETRONAS ANNUAL REPORT 2007 PETRONAS ANNUAL REPORT 2007 Table of Contents Corporate Statements 1 Corporate Profile 2-3 Board Members 4-5 Management Committee Members 6-7 Overview 8-11 Five-Year Financial Highlights Group 12-13 Company 14-15 Review of Results 16-21 Review of Business Exploration and Production Business 24-29 Oil Business 30-35 Gas Business 36-41 Petrochemical Business 42-45 Logistics and Maritime Business 48-51 Techology Development 54-57 Corporate Sustainability 58-59 Health, Safety and Environment 60-61 Our People 64-65 Corporate Social Investments 68-73 Main Events 74-78 Glossary of Terms 80 Financial Statements 81-165 PETRONAS ANNUAL REPORT 2007 PETRONAS ANNUAL REPORT 2007 Corporate Statements VISION STATEMENT To be a Leading Oil and Gas Multinational of Choice MISSION STATEMENT We are a business entity Petroleum is our core business Our primary responsibility is to develop and add value to this national resource Our objective is to contribute to the well-being of the people and the nation SHARED VALUES LOYALTY Loyal to nation and corporation PROFESSIONALISM Committed, innovative and proactive and always striving for excellence INTEGRITY Honest and upright COHESIVENESS United in purpose and fellowship PETRONAS ANNUAL REPORT 2007 PETRONAS ANNUAL REPORT 2007 PETRONAS ANNUAL REPORT 2007 Corporate Profile PETRONAS, the acronym for Petroliam Nasional Berhad, was incorporated on 17 August 1974 under the Companies Act 1965. It is wholly-owned by the Malaysian government and is vested with the entire ownership and control of the petroleum resources in Malaysia through the Petroleum Development Act 1974. Over the years, PETRONAS has grown to become a fully-integrated oil and gas corporation and is ranked among the FORTUNE Global 500® largest corporations in the world.
    [Show full text]
  • IRC to Find Flaws in System | the Star Online 30/03/2020, 2:52 PM IRC to Find Flaws in System
    IRC to find flaws in system | The Star Online 30/03/2020, 2:52 PM IRC to find flaws in system KUALA LUMPUR: The newly set up Institutional Reforms Committee (IRC) says it has been tasked with examining the present state of key institutions and laws and recommending necessary reforms to ensure these institutions are not subverted for extraneous ends. To this end, the panel said it would consult extensively with all stakeholders and invite their active participation, reported Bernama. “We will then present the recommendations to the Government through the Council (Team of Eminent Persons) with a view to reinstating the integrity of the institutions and promoting and enhancing the rule of law,” the committee said in a statement last night. The formation of the five-member committee was announced by the Team of Eminent Persons in a statement earlier yesterday. The committee noted that governance structures had been gravely undermined and that “our institutions have been prevented from functioning consistently with the laws of the country”. Working together: The IRC panel comprises (from left) Vohrah, Mah, Mohd Arshad, Dr Shad and Ambiga. “These shortcomings in the system need to be identified and addressed. “It has also become imperative to appoint persons of unquestionable https://www.thestar.com.my/news/nation/2018/05/16/irc-to-find-flaw…em-council-shortcomings-in-govt-institutions-need-to-be-addressed/ Page 1 of 3 IRC to find flaws in system | The Star Online 30/03/2020, 2:52 PM integrity to lead these institutions,” it said. Chaired by retired judge of the Court of Appeal Datuk K.C.
    [Show full text]
  • Special Issue
    SPECIAL ISSUE t11t-JNJUFE$JSDVMBUJPOt*TTVF/Pt+BOVBSZ+VOF INSTITUTE OF STRATEGIC AND INTERNATIONAL STUDIES (ISIS) MALAYSIA ISIS FOCUS ISIS MALAYSIA ABOUT ISIS MALAYSIA ISIS Malaysia is a not-for-profit views,opinions and research in a free organisation established on 8 April 1983. and conducive atmosphere; To sustain its activities, ISIS is required to iv.Disseminate information on research seek financial support from other findings and other pertinent sources to supplement the proceeds activities undertaken by or on behalf from investment of the one off of the Institute; government grant recieved when it was v. Provide library facilities on relevant first set up. subjects pertaining to national and international issues; ISIS Malaysia is engaged in a wide range vi. Collaborate and cooperate with of activities focusing on objective and other bodies within or outside independent policy research and Malaysia for the furtherance of its fostering dialogue and debate between objectives; the public sector, the private sector and vii. Assist and guide students and academia. In general, its programmes are researchers to conduct research on directed towards five central areas of national and international issues. national interest: ISIS Malaysia's other roles include: i. Defence, Security and Foreign s Publication of policy-relevant papers Affairs; and books; ii. National and International Economic s Managing of the Malaysian Affairs; International Visitors' Programme; iii. Nation-Building; s Leading Malaysia's non-Government iv. Science,Technology, Industry, Energy diplomacy through bilateral and Natural Resources; dialogues with countries important v. International Understanding and to Malaysia, for which it brings Cooperation; together business leaders, senior civil servants (in their private capaci- The objectives of ISIS are to: ties), members of Think Tanks and the Mass Media ; and i.
    [Show full text]
  • Budget 2020 Malaysia Gets It (Mostly) About the Digital Economy
    VOL. 55 NO. 1 • 2020 DIGITAL Redesigning for the Digital Economy: A Study of SMEs in Southeast Asia FEATURE The Future of Asia LEADERSHIP SERIES Leadership that Matters Today The Coronavirus Crisis: Are Leaders Ready? OPINIONS Managing Conflict of Interest in a Business Enterprise DIGITAL BUDGET 2020 MALAYSIA GETS IT (MOSTLY) ABOUT THE DIGITAL ECONOMY West Malaysia RM15.00 East Malaysia RM17.00 www.mim.org.my PP 938/10/2012(031402) Contents LEADERSHIP PUBLISHED BY 06 The Coronavirus Crisis: Are Leaders Ready? MALAYSIAN INSTITUTE OF MANAGEMENT (MIM) Institut Pengurusan Malaysia 08 Leadership that Matters Today Unit T1-L16-1, Level 16, Tower 1, PJ 33, No. 3 Jalan Professor Khoo Kay Kim, Seksyen 13, 46200 Petaling Jaya, Selangor, Malaysia. THE DECADE IN REVIEW PUBLICATION COMMITTEE 15 The Decade in Review Dato' Ng Tieh Chuan, EFMIM (Advisor) Sivanganam Rajaretnan Poovanaswari Kasinathan DIGITAL FOR ARTICLE SUBMISSIONS / ADVERTISING / 26 Budget 2020: Malaysia Gets It (Mostly) About the SUBSCRIPTIONS Digital Economy Please email us: [email protected] Tel: 03- 7711 2888 30 Redesigning for the Digital Economy: A Study of DESIGN & EDITORIAL SERVICES SMEs in Southeast Asia Paul & Marigold (DeCalais Sdn Bhd) No. 23A-6 Strata Office, KL Eco City, Lot 215, FEATURE Pantai Baru, Jalan Bangsar, 59200 Kuala Lumpur 38 The Future of Asia Tel: 603-2201 6499 Email: [email protected] Website: www.paulandmarigold.com OFF THE BOOK SHELF PRINTED BY 46 2020 Must Reads Princomas Sdn Bhd (498036-P) No. 291 & 292, Jalan KIP 3, Taman Perindustrian KIP, Kepong, 52200 Kuala Lumpur A PAGE IN HISTORY Tel: 03-6277 1129 Fax: 03- 6276 2948 Email: [email protected] 48 Beyond Performance-Based Training The authors automatically agree to indemnify MIM OPINIONS against any loss, costs, expenses (including legal fees), damages and liabilities that might arise from 53 Managing Conflict of Interest in a Business their own incapacity, negligence, breach of contract Enterprise or other civil misdeeds.
    [Show full text]
  • Intellectual Discourse Volume 27 Number 2 2019
    Intellectual Discourse Volume 27 Number 2 2019 Editor Associate Editors Ishtiaq Hossain (Malaysia) Anke Iman Bouzenita (Oman) Khairil Izamin Ahmad (Malaysia) Saodah Wok (Malaysia) Book Review Editor Mohd. Helmi Bin Mohd Sobri Editorial Board Abdul Kabir Hussain Solihu (Nigeria) Syed Farid Alatas (Singapore) Badri Najib Zubir (Malaysia) Thameem Ushama (Malaysia) Daniel J. Christie (USA) International Advisory Board Habibul H. Khondker (UAE) Anis Malik Thoha (Indonesia) Hazizan Md. Noon (Malaysia) Chandra Muzaffar (Malaysia) Hussain Mutalib (Singapore) Fahimul Quadir (Canada) Ibrahim M. Zein (Qatar) Habib Zafarullah (Australia) James D. Frankel (China) John O. Voll (USA) Kenneth Christie (Canada) Muhammad al-Ghazali (Pakistan) Nor Faridah Abdul Manaf (Malaysia) Muhammad K. Khalifa (Qatar) Rahmah Bt Ahmad H. Osman Redzuan Othman (Malaysia) (Malaysia) Serdar Demirel (Turkey) Founding Editor Afar Afaq Ansari (USA) Intellectual Discourse is a highly respected, academic refereed journal of the International Islamic University Malaysia (IIUM). It is published twice a year by the IIUM Press, IIUM, and contains reflections, articles, research notes and review articles representing the disciplines, methods and viewpoints of the Muslim world. Intellectual Discourse is abstracted in SCOPUS, ProQuest, International Political Science Abstracts, Peace Research Abstracts Journal, Muslim World Book Review, Bibliography of Asian Studies, Index Islamicus, Religious and Theological Abstracts, ATLA Religion Database, MyCite, ISC and EBSCO. ISSN 0128-4878 (Print); ISSN 2289-5639 (Online) http://journals.iium.edu.my/intdiscourse/index.php/islam Email: [email protected]; [email protected] Published by: IIUM Press, International Islamic University Malaysia P.O. Box 10, 50728 Kuala Lumpur, Malaysia Phone (+603) 6196-5014, Fax: (+603) 6196-6298 Website:http://iiumpress.iium.edu.my/bookshop Intellectual Discourse Vol.
    [Show full text]
  • Malaisie – Le « Who’S Who » Du Nouveau Gouvernement Malaisien
    J u i l l e t 2 0 1 8 © DG Trésor Malaisie – Le « who’s who » du nouveau gouvernement malaisien Après plus de 60 ans de de règne de la coalition du allié Warisan (Sabah). PPBM et AMANAH, qui Barisan Nasional, les 14èmes élections générales comptent respectivement 22% et 19% des organisées le 9 mai 2018 en Malaisie ont conduit ministres, sont surreprésentés par rapport au pouvoir la coalition d’opposition du Pakatan à leur poids au Parlement (10% et 9%). Harapan (« coalition de l’espoir »), dirigée par le Premier ministre Dr. Mahathir. La composition Un conseil d’experts aux côtés du Premier définitive du nouveau gouvernement a été Ministre annoncée le 2 juillet 2018. La réduction de la dette publique, la lutte contre la corruption et le soutien Composé de 5 personnalités économiques et au pouvoir d’achat des ménages figurent parmi politiques de premier plan, un Council of les priorités des ministres nouvellement nommés. Eminent Persons (CEP) a été formé fin mai 2018 dans le but de conseiller le gouvernement Une réduction du nombre de ministres et malaisien sur les sujets économiques et financiers. une restructuration en profondeur de certains ministères Les priorités économiques du nouveau cabinet pour 2018 Comme annoncé par le Premier Ministre lors de sa nomination, les effectifs du nouveau cabinet - Réduire la dette publique et ont été réduits, passant d’une cinquantaine maintenir le déficit à 2,8% du PIB ; de membres à 28. Le Département du Premier - Passer en revue les contrats publics Ministre, en particulier, a vu ses effectifs divisés attribués sous le précédent gouvernement et garantir à l’avenir par quatre.
    [Show full text]