Massive management changes in Petronas unnecessary: Analysts

Dateline 2018-06-22, NST:

 Petroliam Nasional Bhd (Petronas) has performed respectably well during the recent volatile oil price environment and should not undergo massive management changes, analysts said.

Last year, Petronas recorded higher net profit of RM45.5 billion, after having gone through the steepest decline in oil price since June 2014, proving its resilience while remaining profitable, they said.

These comments come amidst recent changes in top management of government linked companies (GLCs) following the change in government after the 14th General Elections, and speculation of more to come.

Following the change of government since last month, government-linked and owned companies with their top leadership have become a hot topic of late among the public, following the stunning victory of Pakatan Harapan at the recently held polls.

While several GLCs have come under scrutiny and have seen management changes recently, other state-owned enterprises continue to focus on improving their businesses while at the same time distancing themselves from any controversies.

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