Apology To Petroliam Nasional Berhad (PETRONAS)

Apology
To Petroliam Nasional Berhad (PETRONAS)
By Syed Akbar Ali

1.    On 03.05.2020, I had published a blog post entitled “Surat Pembaca : Some Points About PETRONAS (Malaysia’s Largest WALLPAPER supplier)” on my blog through the link http://syedsoutsidethebox.blogspot.com/ (“ Post”). 

2.    It has been pointed out to me by PETRONAS that the Post has defamed PETRONAS.  Upon demand by PETRONAS on 12.05.2020 ,I hereby make an unconditional apology to PETRONAS whose essence of apology is as follows.

3.    That I have defamed PETRONAS as such:

3.1    That PETRONAS is not transparent in disclosing its financial information to the public. This is untrue when in fact PETRONAS’ detailed financial and operational results for each year are published on their official website. 

3.2    That PETRONAS is unable to justify its spending, when in reality, PETRONAS conducts a press conference with the media twice a year when it announces its 1st half and year-end performances where the media is welcome to ask any questions.

3.3    That PETRONAS is incompetent and inefficient in running its business as a result of being too comfortable. The fact is that despite the challenging market conditions, PETRONAS have achieved commercial and operational excellence. Its achievement in major milestones is announced yearly on its website. 

3.4    That PETRONAS is not transparent in managing its affairs and in sharing their performance unlike other companies in the industry whereas in reality, a detailed breakdown of PETRONAS’ performance is made available on its website. 

3.5    That the sole reason that PETRONAS is making profit is due to a monopoly and the absence of competitors in Malaysia. This is misguided since PETRONAS competes equally with other oil companies in the downstream retail sectors.

3.6    That PETRONAS’ achievement is confined within its domestic territory when in truth PETRONAS has expanded its footprint internationally. One of which is PETRONAS being the majority owner of Engen Petroleum, a South African oil company focusing on the downstream refined petroleum products market and related businesses.  

3.7    That PETRONAS’ failure is attributed to its lack of skill, ability and business acumen when in truth PETRONAS has operations in over 50 countries worldwide, sustained its market position as one of the largest LNG players globally and is continuing to craft its long-term plan to boost its growth. 

3.8    Insinuated that PETRONAS’ line of leaders is incompetent and incapable. In truth, PETRONAS’ leadership have secured its annual listing among the top 500 countries on Fortune 500. The President and Group CEO of PETRONAS have also been listed among the top global Brand Guardian for 2020. In addition to that, the world’s leading brand valuation authority, Brand Guardians have recognized PETRONAS’ CEO as the only ASEAN CEO and sole Oil & Gas CEO from Asia in the list of 100 best global Brand Guardians for 2020.

4.    I deeply regret  that those defamatory statements were ever published  and recognize the adverse impact of the Post which has damaged PETRONAS' reputation and goodwill .I unreservedly withdraw those statements and the suggestions conveyed by them  and once again unequivocally and unconditionally extend my sincerest apology to PETRONAS for my mistake and the incorrect content in the Post.