Petronas dragged into political turmoil – Consulus comments on NewsBase

Mar 25, 2016 | News & Updates

According to NewsBase, Malaysia’s state-owned Petronas is slowly being dragged in the country’s political mire, with long-time senior adviser Mahathir Mohamad having been sacked after calling for the prime minister’s resignation.

“If you operate in Asia corruption is an age-old menace and business still has to go on,” Lawrence Chong, CEO of Consulus, told NewsBase. “While investors are still cautious, many in the sector are seasoned operators and they know how to navigate. International sentiment will weigh more on investors rather than the domestic issue.”

Chong added: “Mahathir’s sacking is unfortunate but no Asian government will allow the advisor of a major state-owned oil and gas enterprise to stay on board when he has taken a political stand that opposes the government of
the day.”

Read the article here.

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