Shamsul Azhar is new Petronas president and CEO

Datuk Shamsul Azhar Abbas has been appointed president and chief executive officer of Petronas effective February 10 2010, Prime Minister Datuk Seri Najib Razak announced today. He has also been appointed Acting Chairman of the Petronas Board of Directors.

Shamsul Azhar, 57, who served as MISC President and Chief Executive Officer between 2004 and 2009, will replace Tan Sri Mohd Hassan Merican whose contract ends on February 9.

Najib said Shamsul Azhar, who joined Petronas in 1974, has vast experience in the nation's petroleum industry having served in several senior positions, including that of Vice President of Oil Business, Vice President Petrochemicals, Vice President Exploration (Upstream) and Vice President Maritime and Logistics.

"I am confident he is qualified and experienced to bring continued suceess to Petronas," he said.

Najib also thanked Hassan for his invaluable contribution to the nation and petroleum industry having served as Acting Chairman, President and Chief Executive Officer of Petronas since 1995.

Datuk Shamsul Azhar Abbas, the new president and CEO of Petronas effective Feb 10 2010.

Hassan began his career with the national oil company in 1989 as Senior Vice President, Finance, before being appointed President and Chief Executive Officer in 1995 and later also assumed the position of Acting Chairman in 2004.

Najib said during Hassan's tenure at the national oil company, Petronas enjoyed good repute and excellent standing, internationally, and was the only Fortune 500 company in Malaysia.

"He was also instrumental in bringing Petronas to foreign shores, competing side-by-side with international oil giants," added the Prime Minister.

With vast experience behind him, Najib hoped Hassan would continue to contribute his knowledge and experiene to nation building especially in the energy sector.

Article Source : Bernama

One vehicle owner, one subsidy

UNDER the new fuel subsidy scheme to be implemented on May 1, all vehicle owners are to receive a fixed amount of petrol subsidy irrespective of the number of vehicles they own or engine capacity of their vehicles.

Motorists who do not own any vehicle will not enjoy the subsidy.

This means that once the quota, believed to be between 100 and 300 litres a month, is used up, the car owner will have to pay the full price at the pump, Sin Chew Daily reported yesterday.

In a follow-up today, the daily quoted Petrol Dealers Association of Malaysia president Datuk Hashim Othman as saying that in line with the “one owner gets petrol subsidy for one car” measure, the government will allow car owners to register their car registration numbers and MyKad through Maybank online or petrol kiosks from April.

He said as far as he understood, the Road Transport Department will link up with the National Registration Department to ensure MyKad carries the registration number of the holder’s vehicle.

Maybank is the sole financial group involved in the scheme so far.

“Come April, vehicle owners who are Maybank2u users can register for petrol subsidy entitlement through the bank online. Those who are unable to access Maybank2u can register with petrol kiosks.”

He said once the measure is given the all-clear, petrol kiosk operators will hire more hands and link up with Maybank online.

“Under the new petrol subsidy mechanism, each owner can register only one vehicle, and the new scheme may use the biometric identification system to ascertain the MyKad holders’ particulars.”

Hashim said the initial proposal is for the quota to be capped at 100 litres a month but because feedback showed the amount is considered inadequate, the authorities concerned have yet to make a final decision.

On talk that the petrol price will go up once the new subsidy scheme is in place, Hashim said this is to reflect the unsubsidised rate when the subsidy is removed.

“Currently, the government provides a subsidy of 30 sen a litre to keep the (RON 95) petrol price at RM1.80 a litre. So once the 30 sen subsidy is removed, the price goes back to RM2.10 a litre. It is not considered as a hike in price.” -- theSun

Article Source : The Sun