It was roughly written so as not to capture attention- State oil firm PETRONAS will award contracts to unlawful appetite services companies to inspire greater foe in a oil as well as gas industry. That's new. we yet foe is defined as no competition. That definition is in a commercial operation dictionary of a large boys in Malaysia.
Example: Gamuda gets a plump deal by approach of approach negotiation. Certain people get to operate IPPs by approach of approach negotiations. Gamuda gets allocated as PDP. Gamuda is a project physical education instructor for a complete MRT project.
Competition in Malaysian commercial operation dictionary means NO foe for a large boys- stuff oneself frenzy as well as free for all quarrel among a not as large boys. The not as large boys quarrel for a not as large apportionment of a business.
The pierce would be a depart from a stream practice where PETRONAS usually hands out jobs tolicensed players in certain segments such as oil as well as gas equipment makers as well as offshore support vessel operators, a report said. Licensed players refer to those registered with PETRONAS after fulfilling certain despotic requirements.
What is a role of a relaxed rules? So that, intoned a report with a usual strictly commercial operation as well as veteran as usual showing - so which a measures will capture some-more foreign investment to rise Malaysia as a regional appetite hub, it added.
As yet in anticipation of protests from vigour grou! ps as we ll as other mercantile vigour groups, PETRONAS went upon to quickly pronounced such moves would display local appetite services companies such as Malaysia Marine as well as Heavy Engineering Holdings Bhd , Kencana Petroleum as well as Ramunia Holdings Bhd to competition.
Competition is good says a required wisdom. As we shall see, there is no such thing as required knowledge as distant as PETRONAS is concerned when it comes to competition. In so tender tones, PETRONAS further combined which a change would not apply to a bumiputra businessman programme, where companies tranquil by racial Malays have been given preference under a process directed during redistributing inhabitant wealth.
This is where there have been no such things as required wisdom. The large boys such as Kencana as well as Sapura have been not unprotected to competition. They have been given super preferential treatment. Who did PETRONAS name to partner with Petrofac to rise a not simply defined extrinsic oil fields? Kencana as well as Sapura.
Everyone knows in a market, Kencana as well as Sapura have been large during group levels only. The operations have been mostly handled by their subsidiaries working with sub-contractors. Almost all of t! hese have been using inefficiently as well as incurring delays as well as so forth. That's translated in to additional costs to PETRONAS in terms of time, behind costs as well as even additional approach costs.
How does PETRONAS handle those contractors handling by subsidiaries belonging to Kencana as well as Sapura? They practise what in promissory note round is known as banker's dilemma. If a single owes a banks tiny amount they will come to we with coronet knuckles. If a single owes them super large amounts, a defaults of which can means banks to keel over, they will provide we as a GROs d! o a well -heeled customers. They will provide we with unusual hospitality. Sit upon your laps, let we fondle strategic places as well as so forth.
So in order to prevent Kencana as well as Sapura from keeling over as well as dragging with them PETRONAS to a bottom of a sea, PETRONAS awards Kencana as well as Sapura with MORE contracts. Its good income chasing after bad money. Lend some-more so which a borrower can secure some-more business. So which these people have some-more income as well as sojourn solvent as well as can assistance finish a PETRONAS projects. PETRONAS has even resorted to paying subcontractors without delay bypassing Kencana as well as Sapura.
Our most heralded captains of a oil as well as gas industry, Mokhzani Mahathir as well as Shahril Shamsudin have been large total during group levels. What will they benefit when Sapura as well as Kencana teams up as well as then rise a extrinsic oil fields?
Read delicately ya. Mokhzani stands to benefit RM 400 million whilst Sahril Shamsudin stands to benefit RM 440 million.
Man, a brand new mercantile model so loved by our PM as well as lovingly upheld by a Messrs. Idris Jala as well as a Pemandu guys as well as a ETP guys is a boon to a large boys.
Meantime, Alfred in a kampungs as well as Felda schemes will say- what? me worry? We get RM 300, 3000, 500 cash what?
Courtesy of Bonology.com Politically Incorrect Buzz & Buzz
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