Dateline 2019-11-19, Malaysia Chronicle:
MALAYSIA’S only company in the Fortune 500 list has sometimes been touted as a listing candidate for the government – if it needs to raise funds. However, the listing exercise of Saudi Aramco – the national oil and gas arm of Saudi Arabia – underlines why a listing of Petronas is not a good idea and will probably not yield the desired results.
The prospectus of the much-awaited listing of Saudi Aramco was released last Saturday. The 658-page report had a lot of details on the workings of Saudi Aramco, its reserves and the reserves of the kingdom, the plans going forward, profitability, prospects and risks.
The company devoted more than 10 pages to the various risks it faces for its operations. It ranged from regional political conflict to demanding market conditions and constraints of it being a company that is owned by the government and being asked to undertake works outside its core business.