The following is a July 4th., 2011 article published as a favour for a friend.
It is meant to dispel allegations finished against 1MDB which it's partner, Petrosaudi is a association with indeterminate operations. On a contrary, PetroSaudi have offices in Saudi Arabia, England as well as Switzerland. It has grown a worldwide repute as well as grown partnership in many countries.
The Chnese chronicle of a article to precede, as well as followed by a English translated version. As for a Tamil version, still seeking for a translator. Volunteer can leave contact in explanation box.
Hope it answers a allegations.
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The English translated version:
Monday, 04 July 2011 09:33
1MDB-PetroSaudi Partnership Underscores Strong Ties Between Saudi Arabia as well as Malaysia
1Malaysia Development Berhad has been under conflict by a detractors over a partnership with PetroSaudi International Limited.
Allegations were formed upon a misled notion which PetroSaudi is a indeterminate oper! ation, e xcept a actuality which this is a reputed association with offices in Saudi Arabia, England as well as Switzerland with a clever general network.
In tangible fact, a opposite is true as well as PetroSaudi has grown a worldwide repute as a partner of choice, operative in alliances with major general oil companies.
Here's a quick sign upon dual new events involving PetroSaudi which many Malaysians have forgotten.
During a new predicament in Egypt, PetroSaudi chairman Prince Turki al-Saud leased dual Boeing 747s to move Malaysians behind home from Saudi Arabia after their arrival from crisis-hit Egypt. This was finished In a suggestion of a special historic ties in in between Malaysia as well as Saudi Arabia.
PetroSaudi CEO Tarek E. Obaid pronounced a gesture, finished upon seductiveness of a association as well as a Saudi stately family, demonstrated PetroSaudi's one after another commitment to Malaysia. The prince is a son of King Abdullah of Saudi Arabia.
The oil scrutiny as well as prolongation company, owned by a Saudi stately family, is involved in a RM8.7 billion joint try with government-owned 1 Malaysia Development Bhd (1MDB), a vehicle for Middle East investments in Malaysia.
In Mar ! this yea r, King Abdullah sent Saudi Arabia's National Security Council secretary-general, Prince Bandar Sultan Abdulaziz Al-Saud, as a special envoy to broach multiform pass messages serve cementing a long-term partnership in in between Saudi Arabia as well as Malaysia.
PetroSaudi has paid an one more money profit of US$ 81.50 million (RM247.19 million) to a 1MDB in as well as with Prince Bandar's visit.
It is transparent which PetroSaudi is not a indeterminate corporation. It has a good track jot down as well as takes pride which a association "understands a singular hurdles of a general environment, as well as you heed ourselves by a sold attraction to as well as investment in a people as well as nations where you do business."
"In addition, ! you have been committed to progressing a highest environmental standards in a work," a website said.
TNT visited a website, http://www.petrosaudi.com to strew a little light upon a company.
It says: "PetroSaudi International is a privately owned oil scrutiny as well as prolongation company, with offices in Saudi Arabia, England, as well as Switzerland. Founded in 2005, you have been paving a pathway in to a destiny of a appetite attention by constrained multinational projects upon a ground as well as in a marketplace."
"PetroSaudi is involved in oil as well as gas projects in energy-producing regions around a world. We assimilate a complex global systems which define a appetite attention as well as you heed ourselves by forging clever relations in every nation you do business. Through teamwork, experience, as well as attraction to local cultures as well as traditions, you have built a clever general network to carry us in to a 21st century."
PetroSaudi was founded in 2005 by Tarek Essam Ahmad Obaid as well as private investors. PetroSaudi has brought together a core team of rarely regarded as well as experienced leaders from a general oil as well as gas industry, well suited to encounter a company's strategic objectives as well as to address a numerous hurdles of a upstr! eam oil as well as gas zone in a 21st century.
Clearly, PetroSaudi is not a fly-by-night association a little people have been painting it out to be.
"PetroSaudi is making an investment in a destiny currently by diverse scrutiny projects in a world's many important energy-producing regions. Through a current operations, you have built considerable in-house geoscience, operational as well as commercial capability, as well as have forged clever relations with industry-recognized external expertise."
"PetroSaudi handles a bulk sale as well as squeeze of healthy gas, liquefied inorganic substance gas, jet fuel, chemical feedstocks, as well as gasoline. We have built a diverse appetite portfolio, wh! ich incl udes electricity, biofuels as well as environmental products. We aim to build a concrete portfolio of upstream oil as well as gas resources comprising vast scale, high quality development as well as scrutiny projects".
1MDB has pronounced a 1MDB-PetroSaudi joint try is partial of a bigger design to attract multi billion ringgit investment in to Malaysia. It has a long-term investment structured for 1MDB to keep a seductiveness in a JV.
Despite a facts, detractors have been still relying upon false information to disprove 1MDB's reputation.
Last year, opposition MP Tony Pua pronounced which a RM425 million profit recorded by 1MDB had elements of 'right hand to left hand' deals implying which a FY2009/2010 financial accounts of 1MDB included a much talked about land send of a Sunga Besi Airbase. That send was usually finished multiform months after in June 2011.
TNT, reporting upon this subject, has noted: "Whilst in many countries, factual errors similar to this will lead to public cheer as well as many substantially a resignation of a accusers, Malaysians seem tolerant of a actuality of these wild allegations being finished by opposition figures."
Opposition leader Anwar Ibrahim had upon September 20th finished another accusation which a accounts of 1MDB will never see a light of day.
Now which it has been finished public he is cast! ing aspe rsions as well as disinformation about PetroSaudi, an act which can usually serve to repairs a goodwill as well as certitude in in between Saudi Arabia as well as Malaysia.
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