Malaysia’s PETRONAS Spent $116M on Talent Management Last Year

And how much will they allow service providers to spend on ‘talent management’?

Dateline 2015-09-23, Rigzone:

Malaysia’s national oil company Petroliam Nasional Bhd (PETRONAS) spent about $115.9 million (MYR 500 million) on talent management as well as on leadership training and competency building last year, the firm’s top executive said Tuesday, as reported by national news agency Bernama.

“It is quite a significant sum, but we take it as a long-term investment,” PETRONAS President and CEO Wan Zulkiflee Wan Ariffin said at the CPA Congress 2015 in Kuala Lumpur.

Besides making a hefty investment in nurturing talents, the company also spent a lot of time looking at succession planning and developmental needs of its 51,000 employees.

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