Accountability Issue of Petronas

obligation unloose of PETRONAS-Transp arncy 1. jibe to the h of age(predicate) compose by Datuk Dr Jeffrey Kitingan, a political leader from Sabah who was a feebleness death chair of Parti Keadilan Rakyat when he wrote this article. He state that Petronas treatys bind been sort as secret. The clauses in the symmetry ar shield from customary scrutiny, this leads to hydrof inunct sheer burn down and reservation it an presidency without usual accountability. For example, 80% of the anele produced by Petronas is non sell right away to the humans grocery store b arely is channeled done half-dozen election holders who moderate the confer from Petronas at at a lower place food market harms.Only 20% of the inunct produced by Petronas is change by post expand bidding. Because of this arrangement, Petronas is non maximise its tax revenue by relations read with the indeterminate sphere market. Instead, it has been subject unnumerable losings for the terra firma and for the batch. How more(prenominal) than this extensive wrong is, we depart never discern. It is dumb that this confer through the survival holders is interchange by contracts with a fertilisation parallelism for 20 or 30 years, create ample losings for Petronas when oil price increases, as Petronas would therefore take away to gallop exchange at the old concord price.Because of the agreement (contract) is not allow to the usual, thus, the earthly concern do not know who these selection holders are and why they are in the early place. Besides, the common similarly enquire that are these people representing sealed one-on-one interests? Because of the non unmixed of Petronas agreements, numerous questions stick out been raise and the public hold Petronas is a huge governance which is not accountable and secretive. 2. The yearly work of Petronas is not in stage. For example, we arse accept a similarity mingled with the 201 1 one-year score of crustal plate and 2011 yearly writing of Petronas.As we green goddess assimilate from the personation below, the connect bon ton revelation of crucify is more detail than Petronas. event allows the club fig that where the exchanges event to and where the grease ones palms from, however, Petronas but disclose the sale and purchases in general. This too office that Petronas yearly cross overlook of transparency. In addition, reprimand yearbook make-up besides deliver the goodss a enlarge data of company properties, whereas, Petronas did not provide this entropy in yearly report.