QUOTE(feekle @ Mar 12 2013, 11:20 AM)
Petronas told US envoys Malaysia oil drying up
PUTRAJAYA: Civil servants will get their annual increments very early this year. All civil servants will get increments effective July 1 about a month before Hari Raya Aidilfitri which is expected to fall on Aug 8.Sworn to serve: Police and army personnel taking their oaths at the civil service gathering in Putrajaya.
Prime Minister Datuk Seri Najib Tun Razak said civil servants who had reached the maximum level of their pay scale would also be given three increments to their otherwise static salary between now and Jan 1 next year.
All this is part of a broader swathe of initiatives that the Government is working on under the new Transformative Remuneration System SST.
Under the early increment initiative, each civil servant will enjoy a salary hike of between RM80 and RM320, which Najib said will cost the Government some RM1.5bil.
“This is in line with the philosophy held by the Government to always appreciate the contributions of civil servants,” he said when addressing the annual civil service gathering at the Putrajaya International Convention Centre yesterday.
For civil servants who have reached the maximum of their salary scale, the first of three annual increments takes effect immediately and will be backdated to Jan 1.
The second increment will come in July and the third in January next year.
Najib said the Government was holding discussions with Cuepacs, through the Public Services Depart-ment, to firm up the many initiatives under the SST.
These include restructuring the pay packages for civil servants with static salaries.
He said that everything was expected to be finalised by the end of this year but civil servants on the maximum pay scale need not worry if the deadline is missed as the Government is committed to giving them a 3% annual salary increase for as long as the SST is not implemented.
Najib said the Government would also look into how the 50,000 contract workers could be absorbed as full-time staff under the SST, and it would extend the contracts ending on Dec 31, 2013 by another year.
“To look out for the welfare of civil servants stationed in urban areas, I have ordered PR1MA to set up an affordable housing scheme on Government land.
“They (the houses) will be offered at 20% lower than market price,” he added.
At least 8,000 civil servants were at the gathering, which was also attended by Deputy Prime Minister Tan Sri Muhyiddin Yassin and Chief Secretary to the Government Datuk Seri Ali Hamsa.SOS
inb4 shitstorm kambing
The Malaysian Insider, June 20, 2011
The Petronas executive said the oil firm was forced to comply with the government’s policies.
KUALA LUMPUR, June 20 — Malaysia’s limited oil and gas reserves are running dry, spelling trouble for the government as it relies on national oil company Petronas for nearly half its revenue, said a leaked United States diplomatic cable.
According to the cable released by whistleblower website WikiLeaks, a Petronas board member admitted to US embassy officers here in 2008 that the company “feels tremendous pressure to grow its business in order to maintain Malaysia’s political status quo.”
“Petronas wants to stay insulated from politics but must comply with GOM (the government of Malaysia) policy,” Datuk Mohd Azhar Osman Khairuddin, now a vice president at Petronas, was quoted as saying in the cable published in full by the Malaysia Today news portal today.
“Azhar told us that Malaysian O&G reserves are not large and are running out soon. (Note: Conoco Philips Malaysia confirmed that without new discoveries, Malaysian oil production will decline at approximately 10 per cent per year, from 550,000 bpd in 2008 to roughly 490,000 bpd in 2009 and 450,000 bpd in 2010.)
“Azhar noted that revenues from Petronas accounted for 45 per cent of the GOM budget last year and stated that the GOM is over-reliant on Petronas to fund its operations,” said the document classified by the embassy’s then economic counsellor, Matt Matthews.
Petronas made a pre-tax profit of RM90.5 billion for the year ending March 31, 2011. On top of taxes, Petronas has been paying the government a dividend of RM30 billion since 2009, up from RM24 billion in 2008, RM20 billion in 2007, RM13 billion in 2006 and just RM9.1 billion in 2005.
However, a new proposal expected to take effect in 2013 will see dividends paid by the state-owned oil company fixed at 30 per cent of net profit.
According to the cable, Azhar said that Petronas wanted to invest in productive O&G assets to “promote future profitability rather than be spent now on domestic programmes for political gain.”
“He described Petronas as a stabilising force in Malaysia and in Asean regionally and his desire that the USG recognise the important role Petronas plays in maintaining political stability in the region,” the report added.
According to the leaked document, embassy officials had met Malaysian oil and gas firms due to concerns over business activities in Iran but Petronas said it had no active investments in the Islamic republic.
However, Petronas said in April last year that it sold spot volumes of gasoline from third party traders and suppliers to customers in Iran.
The cable also quoted a foreign ministry official as saying that “Malaysian firms go to Iran with suitcases of money to purchase oil and gas concessions from the Iranians. He said that they bring too much cash to count the money, so they weigh it to determine if the amount is correct.”
It named principal assistant secretary and America desk officer Muhammad Radzi Jamaludin as saying that two private companies, SKS Ventures and Amona, claimed they had no financing sources for their projects in Iran.
However, Radzi “did not offer why Malaysian firms would purchase such concessions for projects they were unable to finance.”