PETRONAS terminations should be gradual, give training, says Muhyiddin
PETALING JAYA: The planned layoff of 5,000 PETRONAS employees should be done gradually, says Tan Sri Muhyiddin Yassin.
"The terminations should be gradual, allowing for training in entrepreneurship skills and capital assistance to venture into businesses matching their qualifications," said the Perikatan Nasional chairman on Facebook on Wednesday (June 11).
He said that although these employees are contract workers, they have served PETRONAS for a long time and have families to support.
Muhyiddin suggested using funds meant for training Bumiputra entrepreneurs for this purpose, as it is the government's responsibility to address the issue.
"There is no denying that PETRONAS faces significant financial challenges, with post-tax profits dipping by 32% from RM80.7bil to RM55.1bil compared to the previous year,' said Muhyiddin.
"In the face of global challenges, falling oil prices, and the transition to renewable energy, PETRONAS needs a long-term plan to remain sustainable and competitive," he added.
Muhyiddin said that as a nation-owned company contributing large dividends to the government and playing an important role in national development, the government must always protect the interests of PETRONAS and its employees.
"Thus, it is reasonable for the government to immediately present PETRONAS's economic plan and the direction of the state's oil and gas industry," he added.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Sun
15 hours ago
- The Sun
MARii, Petronas collaborate to bring ADaPTIV to automotive industry
PETALING JAYA: The Malaysia Automotive Robotics and IoT Institute (MARii) and Petroliam Nasional Bhd (Petronas) project management and technical services commercialisation arm Petronas Global Technical Solutions Sdn Bhd (PGTSSB), have established a strategic collaboration aimed at revolutionising vehicle maintenance through advanced technology. The collaboration focuses on harnessing the energy company's Advanced Diagnostic and Prognostic Technology (ADaPT), a predictive analytics technology developed to optimise assets' structural performance for the energy sector and applying it to the automotive industry under the ADaPTiV initiative. The partnership was formalised through the signing of a memorandum of understanding (MoU) between MARii and PGTSSB, witnessed by Investment, Trade and Industry Deputy Minister Liew Chin Tong. Leveraging ADaPT, driven by artificial intelligence (AI), the Internet of Things, and big data analytics, ADaPTiV is poised to deliver intelligent, real-time predictive maintenance for vehicle components. This innovative technology is set to improve vehicle reliability, enhance safety, prolong component lifespan and offer significant cost savings by optimising maintenance schedules. ADaPTiV features powerful AI-powered predictive analysis that forecasts potential component failures and suggests necessary actions before breakdowns occur. Through IoT integration, the system collects real-time data from vehicle components, enabling condition-based maintenance that is both timely and effective. With big data analytics, actionable insights are generated to improve vehicle operational efficiency and support smarter driving behaviour. The initiative not only responds to the technological needs of the automotive sector but also aligns with Malaysia's national strategic goals. ADaPTiV supports the development of next-generation vehicles and mobility-as-a-service under the New Industrial Master Plan 2030 (NIMP 2030) and the National Automotive Policy 2020 (NAP 2020), reinforcing the nation's commitment to smart mobility and sustainable transport. MARii CEO Azrul Reza Aziz said the strategic partnership with Petronas is a landmark moment for MARii and the future of mobility in Malaysia. 'ADaPTiV represents a powerful convergence of MARii's automotive expertise and Petronas' world-class predictive analytics, enabling us to build a more intelligent and reliable vehicle ecosystem. This initiative is a direct embodiment of our commitment to fostering local innovation and achieving the ambitious goals outlined in NIMP 2030 and NAP 2020.' Petronas senior general manager of group technical solutions, projects, technology and health, safety, security and environment Mazri Mohd Ali said Petronas is excited to partner with MARii to introduce ADaPT into the automotive sector through ADaPTiV. 'This collaboration is a testament to our commitment to technical and engineering excellence, as we adapt and extend our solutions to new industries. We believe that ADaPTiV will deliver significant value by enhancing vehicle reliability, safety, and operational efficiency, driving cost savings and contributing to a more sustainable transportation landscape in Malaysia,' he added. As part of the collaboration, MARii and Petronas unveiled the first functional prototype of ADaPTiV at the Malaysia Autoshow 2025. The prototype was showcased at the MARii Pavilion, where technical experts provided insights into the technology and answered questions from attendees. The ADaPTiV initiative is expected to deliver enhanced vehicle safety through proactive maintenance, extend component lifespan by enabling predictive and condition-based actions, and reduce unexpected downtime, resulting in significant cost savings for users. Beyond the automotive industry, ADaPTiV has the potential to transform multiple sectors by offering predictive maintenance solutions that improve operational efficiency and drive sustainability.
Borneo Post
17 hours ago
- Borneo Post
Petronas to make major announcements at SOGCE
Harun (third left) with Dolly (third right) inviting the public to attend SOGCE 2025. KOTA KINABALU (June 12): Petronas is expected to make several major announcements during the 12th Sabah Oil, Gas & Energy Conference & Exhibition (SOGCE), said Sabah Oil & Gas Development Corporation (SOGDC) chief executive officer Datuk Harun Ismail. 'I believe this year's SOGCE will be a very important event because I've heard that Petronas is planning to make significant announcements there,' Harun said at a press conference held at the SOGDC office in Wisma Innoprise today. He added that there may be two or three announcements by Malaysia Petroleum Management (MPM) senior vice president Datuk Ir Bacho Pilong. 'I'm not sure what the announcements will be, but I understand they will be good news for Sabah,' he said. SOGCE 2025 is scheduled to take place from July 3 to 4 at the Sabah International Convention Centre, with the theme 'Fostering Collaboration, Paving Sustainable Opportunities.' The annual event is the only oil, gas, and energy-focused conference and exhibition held in Sabah, bringing together industry leaders, policymakers, and stakeholders. Organising chairperson Dolly Jimayol said the conference will span one and a half days and feature high-level discussions, including on sustainability pathways and the emerging blue economy. She added that the exhibition will run concurrently, showcasing innovations and technologies from 90 local and international companies in the energy sector. 'This year's SOGCE remains a platform for business matching, learningnand industry collaboration,' Dolly said. 'We will also host youth engagement programmes and B2B meeting platforms.' 'SOGCE isn't just a business event — it's a catalyst for Sabah's economic development. We urge local oil and gas services and equipment (OGSE) companies, SMEs, youth, university and secondary school students, and the public to attend,' she added.
Free Malaysia Today
a day ago
- Free Malaysia Today
Sabah named ‘Malaysia's Most Outstanding State' for 2024
Azman Ujang, a chief judge of the awards, highlighted Sabah's potential in economic development and environmental sustainability. (Wikipedia pic) PETALING JAYA : Sabah has made its mark by being named 'Malaysia's Most Outstanding State' for 2024 at the International Business Review (IBR) Asean Awards 2025. Former Petagas assemblyman James Ligunjang said that for the first time, the awards extended recognition to state governments, acknowledging exceptional leadership and accomplishments at the state level alongside corporate achievements. Ligunjang said in a statement that under chief minister Hajiji Noor's leadership, Sabah had received the highest honour for implementing the Sabah Maju Jaya development framework. The framework centres on four pillars: championing Sabah's rights, leading with integrity and efficiency, fostering development aligned with the Shared Prosperity Vision 2030, and maintaining unity among the state's diverse communities. He said key achievements that contributed to the recognition include an increase in federal special grants from RM26 million in 2022 to RM600 million in 2025, and a 47% rise in foreign tourist arrivals, boosting the state's revenue. Other highlights include a substantial stake in oil and gas revenues from the commercial cooperation agreement with Petronas, yielding over RM3 billion in 2023, as well as foreign investments soaring from RM132 million in 2023 to over RM1 billion in 2024. Ligunjang also cited progress on the Pan-Borneo Highway, linking major cities and rural areas, as a key achievement by the state. He said that Azman Ujang, a chief judge of the awards, also highlighted Sabah's potential in economic development and environmental sustainability. 'He noted increased foreign investment interest, with investments rising from RM132.7 million in 2023 to RM1.07 billion in 2024, and praised the Kota Kinabalu Industrial Park's record-high occupancy rate of 90% with 288 active investors. 'Sabah also achieved the highest manufacturing sector growth rate in Malaysia at 4.4% in 2023,' Ligunjang said. He said Azman had also emphasised the state's focus on human capital development and environmental conservation, with 62% of Sabah's land, amounting to 4.6 million hectares, declared free of logging, as part of long-term sustainability strategies. The official awards ceremony is scheduled to be held on July 19, at the Sabah International Convention Centre, Kota Kinabalu, with Hajiji expected to attend as an honorary guest. Ligunjang said the award was announced by the event's secretariat, which also honoured Negeri Sembilan as Malaysia's 'Most Progressive State' for 2024.
