Tuesday June 17, 2008
Petronas urges public not to join e-mail campaign
KUALA LUMPUR: Petronas has urged the public not to join an e-mail campaign to boycott its products because it will not affect fuel prices.
Its president and chief executive officer Tan Sri Mohd Hassan Marican said Petronas
was not the largest retailer of fuel in the country as it only has about 800 stations nationwide.
“Any form of boycott will only hurt the station owners, the small and medium-seized enterprises that supply the stations with their products and the shareholders of Petronas Dagangan – many of whom are pensioners,” he said in an interview.
Petronas stations account for about 30% of fuel sold in the country.
The largest retail station owner is Shell with over 1,200 stations.Source:
The Satire======================================
Huh? Are you implying that we should boycott Shell instead?======================================
Don't Begrudge Salary Hike For GLC Officials, Says Khazanah
KUALA LUMPUR, June 17 (Bernama) -- Khazanah Nasional Bhd, the government investment arm, today came out in defence of the proposed salary hike for top officials in government-linked companies (GLCs), citing enhanced value creation, careful calculation and retention of talents.
Its Managing Director Tan Sri Azman Mokhtar said Khazanah's Blue Book, which detailed executive compensation, tried to institutionalise that "we cannot't pay too low, we shouldn't pay too high, but we have to pay enough and we have to pay fairly".
He said when asked to comment on several blogs' queries on why Tenaga Nasional Bhd's top officials were getting hefty salary increases in times of possible economic slowdown due to the fuel and food prices hike.
Azman said after much debate four to five years ago, Khazanah decided on the average principle for basic salary.
But at the same time, it also put up a total compensation basis for the salary, including bonus, as long as it is
self-funding, he said.
"The average Malaysian company pays three months' bonus. What we are saying is that we will pay more, as long as the company and shareholders make much more than that. That means value must be created," he told reporters after attending the opening ceremony of the MIT Sloan Global Entrepreneurship Lab Programme workshop facilitated by Khazanah.
"That is a very important point. It is performance-based, incentive-driven and self-funding. We are not taking money away from anybody but we are creating more value," he added.
According to Azman, the higher pay commensurated with the increasing demand for local talents abroad.
"Malaysian talents are in demand from the Middle East, China, Asean and also the United States. There is a very serious brain drain issue that we should be aware of. So don't begrudge our CEOs and the managements," he said.
"If you see them making money, you should celebrate because they have created a lot of value for the companies. Let me assure you that there has been careful calculation on this," he added.
Source:
Tidak BERNAMA======================================
Self funding? Like the new 30% tariff hike?
Performance based? Dude, its a monopoly industry, how do you measure your performance?======================================