Weaker Petronas undermines Malaysia’s geoeconomic strength, says Wan Fayshal

Free Malaysia Today

Wan Ahmad Fayhsal says the national energy company must be given robust support to drive Malaysia’s influence on the global stage.  Read More:   Laporan Lanjut:   Free Malaysia Today is an independent, bi-lingual news portal with a focus on Malaysian current affairs.    Subscribe to our channel - http://bit.ly/2Qo08ry   ------------------------------------------------------------------------------------------------------------------------------------------------------ Check us out at https://www.freemalaysiatoday.com Follow FMT on Facebook: https://bit.ly/49JJoo5 Follow FMT on Dailymotion: https://bit.ly/2WGITHM Follow FMT on X: https://bit.ly/48zARSW  Follow FMT on Instagram: https://bit.ly/48Cq76h Follow FMT on TikTok : https://bit.ly/3uKuQFp Follow FMT Berita on TikTok: https://bit.ly/48vpnQG  Follow FMT Telegram - https://bit.ly/42VyzMX Follow FMT LinkedIn - https://bit.ly/42YytEb Follow FMT Lifestyle on Instagram: https://bit.ly/42WrsUj Follow FMT on WhatsApp: https://bit.ly/49GMbxW  ------------------------------------------------------------------------------------------------------------------------------------------------------ Download FMT News App: Google Play – http://bit.ly/2YSuV46 App Store – https://apple.co/2HNH7gZ Huawei AppGallery - https://bit.ly/2D2OpNP  #FMTNews #WanAhmadFayhsal #Petronas

Transcript

00:00While the Petroleum Development Act 1974 has provided a solid foundation for generating

00:08revenue to support national development, emerging geoeconomic challenges, including Donald Trump's

00:15trade war, necessitate its further strengthening. This is what Machang MP Wan Ahmad Faisal Wan

00:22Ahmad Kamal said in an exclusive interview with FMT, adding that Petronas, Malaysia's leading

00:28geoeconomic institution, requires strong backing to sustain its pivotal role as a long-term

00:35global player.

00:36For me, Petronas itself is a geoeconomic institution, an important one for Malaysia. Because why?

00:42It's the only, the sole homegrown MNC that has grown up to be transnational corporation,

00:48has operations more than 50 countries, and one of our major important source of revenue

00:54for our country.

00:56Petronas operates in over 50 countries, with major oil, gas and LNG projects across

01:03Africa, South America, Canada and the Asia-Pacific. It is the only Malaysian company on the Fortune

01:11Global 500 list, ranked at number 167.

01:16Whenever Petronas operates outside the country, they also open the doors for our SMEs to penetrate

01:23into such markets. Because why? We have a national champion called Petronas that becomes

01:27our battering ram.

01:28Wan Faisal said the appreciation for Petronas's geoeconomic value extends beyond Malaysia to

01:35other ASEAN countries.

01:37As a former Petronas staff, I know when Indonesia was facing crisis, one of the helping hand was

01:43Petronas.

01:43Tun Mahathir, back then Tun Daim and all the cabinet members, they leveraged whatever they could

01:48from our institutions, especially Petronas, to help purchase some foodstuff for Indonesian,

01:53our Indonesian neighbour.

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