Saturday, July 04, 2009

A richer Petronas

Thanks to Omar Ong. I hear that Omar Ong paid up the study loan he owed Petronas yesterday.

If that's true, the national oil corporation would be richer by a few thousand ringgit today! But whether that would now endear him to the Board of Directors of Petronas and qualify him to become a director of the corporation is another matter altogether.

Omar's failure to pay up what he was said to owe Petronas had been the source of great embarassment, especially to PM Najib Razak, who was said to have backed the appointment of the Ethos Consulting supremo to the board of Petronas.

The Petronas board of directors rejected the appointment of Omar Ong when it was first tabled. They are now waiting for the PM's further instruction on the matter.

I was also told that the PM had dinner with Dr Mahathir Mohamad, the Petronas Advisor, a little over a week ago and one of the things that got mentioned was Omar Ong. Details of the discussion are sketchy.

Dr Mahathir, however, has made it quite clear on his blog and to those close to him on why Omar Ong cannot come on board. "He must choose to either be with Ethos or work with the PM's office. He cannot be both," Dr M was said to have said.

56 comments:

Anonymous said...

paid interest too?

well too little too late

eddy said...

Too little too late lah Omar Ong. Just go back to Ethos and earn your living through sweat and tears lah like everybody else.

Anonymous said...

malu lah such an important and wealthy man also defaulted on loan. it is really a crying shame. i hope the other malay boys and girls will learn a lesson from there.

LESSON TO BE LEARNT

donplaypuks® said...

Nice try Omar Ong & Najib. But, sorry. Too late!!

Integrity, like pride, goes before the actual fall!

And did he pay up the arrears of accrued interest? Hmmm?

George Choo said...

The ONLY THING PAK LAH DID CORRECTLY during his time as PM is to leave Petronas alone.Therefore,THE ONLY THING NAJIB SHOULD FOLLOW PAK LAH is to leave Petronas alone.This is due to the fact that Petronas is making profit yearly unlike other GLC like TNB and UEM.The latest news is that Hassan will be replaced as Chairman and CEO of Petronas by the current Felda CEO when his contract expire in Feb 2010.

BigDogDotCom said...

Rocky,

The fact that Petronas BOD twice consecutively rejected the appointment of Omar Ong says it all. I do not have privy to delicate infos but for a corporation like Petronas to consecutively reject the appointment, despite a strong word from PM Dato' Seri Najib Razak means that they really dont want him.

PM Dato Seri Najib should learn from mistakes that PM 'Flip-Flop' Dato' Seri Abdullah made and not to repeat them.

PM Dato' Seri Najib has only been in the office for 100 days and yet so many people talking about how he is doing the wrong things, like appointment of corrupt UMNO leaders back into MT/Govt, dissolution of MECD, liberalisation of 27 subsectors, liberalisation of FIC and permature announcement of the proposed third bridge and Biasiswa Nasional.

Tun Dr. Mahathir spoke against PM 'Flip-Flop' Dato' Seri Abdullah Ahmad Badawi almost three years after the latter assumed the Premiership. Compare to PM Dato' Seri Najib, that is 12 times sooner.

That is definitely not good.

So much hopes have been rested with the ascension of Dato' Seri Najib as the PM.

God help us all.....

Anonymous said...

Bodoh punya Ong.

You could have just paid up in the beginning and gone ahead with anything that you wanted to do.

Now you see, you are being bashed up by all and sundry for not paying up.

Its not that you did not have the means to pay. looks like you wanted the company to write-off the amount because you were very close to the PM?

Mana lah lu punya ethics and principles?

Muslims got more maruah than what you have displayed and dragged on for years.

You are just an ordinary leech, which only releases itself from blood sucking - when given a very painful stab with a red hot iron.

ANOTHER MALAYSIAN

Anonymous said...

rocky,

PM wants ong because of the greedy and his disloyal to petronas. ong is a money person because he quits from petronas because better offer!! now, he wants to gain more from petronas!!! greedy guy and why must PM support ong unless ong held some trump card!!!

zamri

Umah said...

Petronas is a govt-controlled entity. Shame it has to bail out UMNO on more than one occassion & its has become UMNO's cash cow for decades. No wonder Petronas has refused to disclose publicly its accounts for scrutiny.

Pune Deck said...

Things has to reach this stage before he pays up his scholarship. It means he has the money but rather not pay up.

Can we rely on such character to take up bigger responsibility for the nation?

Real undeserving prick. Typical cina tak berterima kasih.

Jimbet said...

He expect to get the job by just clearing off the study loan? he should settle it long ago.

Desperate!

Dato' Bendahara said...
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Anonymous said...

The old man had just raised an interesting question in his blog on petronas money during the reign of sleepy.

OutSyedTheBox has a good elaboration.

With that amount of money, the fuel hike was totally unnecessary

MM

Anonymous said...

Anyone who reneges on his financial responsiblity - that is simply someone who does not pay his debt - who 'tak bayar hutang', has no right to hold office in Petronas or even to be elected as a member of a Parent-Teacher Association. He could however be selected as Director of the Oxford University Barrow Boys' Association!
I know of a Petronas engineer who was headhunted to work for Toyota in Frankfurt. He rejected it and went back to serve Petronas - it was after all the rakyat's money that fed him and educated him to get his qualifications.
And here comes O. Ong trying to get in by the back door, what an opportunist. Who is he serving?
When will the leadership clean up its act?
This character really has a lot of 'ong' (luck)

Catwoman

Dato' Bendahara said...
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Dato' Bendahara said...
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Dato' Bendahara said...
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Anonymous said...

Dr M was said to have said?

The fishing boat crew was fishing for fish when they fished out the biggest fish :)

How about 'is believed to have said'? Or 'is known to have said' or just 'he said'?

Let it be an easy Sunday :)

Anonymous said...

Dear Rocky,

maybe Omar Mustapha should go to Felda first, then to Petronas.

and maybe TS Ananda Krishnan should also help those poor villagers at kampung buah pala, apart from buying newcastle.

my 2 sens worth

Rudy

Anonymous said...

Rocky, Agree with Dr M! Have to decide whether you are with Najib or KJ. There are turncoats taking advantage of Najib and at the same time advising and strategising for KJ. Datuk Seri, Beware of the Grand Design! They almost made it with My-Din...

I-Non

Anonymous said...

BRO, THIS IS NOT GOOD LA! IS THIS THE BEGINNING OF NAJIB BASHING.

KUALA LUMPUR, July 4 - Former premier Tun Dr Mahathir Mohamad has dismissed the efforts of Prime Minister Datuk Seri Najib Razak to liberalise the economy, saying they were “not going to help anybody”.
The plan seemed designed to make Najib popular, said Dr Mahathir, adding: “It will not help the Chinese, Malays or Indians.”
Dr Mahathir was asked to comment on Najib's steps to open up the economy to make it more attractive for foreign investors.

FLIP FLOP ZZZZZZZZZZZZ

Anonymous said...

wah !! this Omar Ong memang powerful lah !!!

both PM (present & ex) kuat discussion on him...like some sort of big national project/interest !

Rocky...give this chap a breaklah, maybe someday he will become your boss then only you know !

Hidup Omar

Anonymous said...

Dia punya Ong sudah habis ooooo.

Hiak

Old Fart said...

So now we going to have a cheap skate on the Board of Petronas is it?

So why only pay up now? Was he like thousands more who take government loans or GLC loans and then don't pay because they can?

Why so silly, just because of this board position only pay? I am some what miffed with the attitude that he would have taken all this while in the knowledge that nothing will be done to him and so he does not bother paying. with such an attitude how can he be trusted with Petronas for heaven's sake.

Anonymous said...

This is a joke. Akin to screwing a whore and never pay for the service. And when you want to screw her again, you pay up what you owe the last session just to go to bed with her one more time.
malsia1206

OMOng kosong said...

i like your headline. Richer by few thousand NOW but POORER LATER. Do you think he will sit pretty and let his money go just like that. He'll get back plus interest. Could it be few hundred or thousand time bigger than what he paid. How do we know? Time will tell...

They just missing the point that PETRONAS policy is those who resigned is not allowed to come back even if you already paid!

I have set my mind not to vote for BN in 2013...sorry dude. Harap2 petronas money still there in 2013.

Mohamed said...

My name is not Mokhzani or Mukhriz, so why should i care about what tun has to say? Didnt he use petronas dollars to bail out Mirzan and MISC? So, really, wo does want to give a fudge?

Anonymous said...

Omar Ong, is a working for the US government. He and our foreign minister Anafiah has brought Najib closer to the US. The closest the US has been with Malaysia for many many years.
We are aware the the US wants a naval base here, since SUBIC bay is no longer an option.
Mohd Najib is now a US lackey, and his handlers are making sure that Malaysia comes under the influence of the US.
There will be massive US investments into Malaysia, American oil companies based in Malaysia, will start using their Malaysian companies to tie up with Arab oil companies in West Asia.
Likewise, Petronas is required for this purpose.
People you might be thinking, I am guessing, slandering...you shall see the fruits in three years time.
The United States of America, the nation state that supports the existence of Israiel, finally has got their man sitting on as the Prime Minister of Malaysia.
Remember Sadat, remember the Shah, well now we have Najib. Malaysia is about to prosper like never before, but like all US ventures, after the prosperity is done with. There are only tears, blood, heartbreak and bitterness to remember it by.
My name is I.

Anonymous said...

Its not about Mahathir Bashing the PM that's important, its Mahathir's points - acceptable/non-aceptable... Anyway, the PM has to answer well because he has to convince the people that what he has laid down are really beneficial.

Alexander El said...

Yipee! TDM is our Malaysian, check and balance in the administration? This just can't be true! I thought he was and is forever, part of the regime.

OrgPokoksena said...

Too easy to be director in GLC if you are close to PM..Omar Ong should proved that he is good and capable to handle Petronas. Why he must be in Petronas,?,please answer this to rakyat?

Setakat nak duduk jadi director makan gaji buta..baik bagi dengan ketua cawangan pun lagi baik..

Anonymous said...

Rocky as you are like a mentor to this moronic bunch of bpn blogger,please teach them how to spell properly and construct sentences properly,buat malu je.

bpn

Anonymous said...

is he a chinese...LOL

Anonymous said...

i like to vote for DAP...
but the chinese dont like me....
eh rocky what to do???

my skin is black skin says

Wenger J Khairy said...

wah !! this Omar Ong memang powerful lah !!!

both PM (present & ex) kuat discussion on him...like some sort of big national project/interest !

Rocky...give this chap a breaklah, maybe someday he will become your boss then only you know !

Hidup Omar!


I second that
Hidup Omar!

Anonymous said...

BigDog

Yes, God help us all.

Najib took up the job as PM with so many scandals dogging him (and his wife)and detractors nipping at their heels. Right from day one, he has already been compromised. Because of that, it's extremely difficult for him to do the right thing such as acting on corrupted politicians, appointing the right people for the right outfit, yadda, yadda, yadda.

What a huge letdown though not a surprising one.

Melati

Anonymous said...

wow, this ong got scholarship, did not pay up till publicised and yet have the intent to be on board of petronas.

integrity should be the highest criteria to sit on any board.

ong failed.

Samuel Goh Kim Eng said...

DISTRIBUTE WEALTH NOT GREED

What's the use if the rich become richer while the poor become poorer
When national wealth is not properly distributed according to need but greed
It won't make any difference even if the oil suddenly becomes purer
Unless the local cows are fed with better grass and not merely weed

(C) Samuel Goh Kim Eng - 060709
http://MotivationInMotion.blogspot.com

elle said...

i just wanted to said. i still referring term PM to Pak Lah & maybe cause i don't accept the fact Najib is my country PM now. Is to sad thinking when our leader could be or could not be involved in highly risk murder case, how dare we all just let this man walk away with this.

Parpu Kari said...

Elle, are you stupid or what? By the way wenger, if you want to lick ur boss arse by all mean please! I am not against it, but looking at you and the way you are supporting this CINA CELUP is actually very spooky! It' reminds me of 4th floor story! Don't forget guys we still have another fella in MRCB, yup, none other than Zaki Zaid y'all!

Sometimes i am wondering, what the hell this people is still around? What is our PM is trying to prove here? Well DS Najib, with all due respect sir, if this thing or legacy still continues, then frankly speaking, bye bye PRU13!

Pls do something about it DS NAJIB, are they really worthy for us to lose the battle? What or who do you love more? The country or bunch of jokers who will sell our beloved country to the friendly neighbour anytime when they are in power?

Seriously we would like to know your answer sir? If they are still around in the key position. I might as well will just delete my blog!

DS NAJIB, Pls SAVE MALAYSIA SIR!

aiyomanaboleh said...

I have always wondered why people who are rich, which I think our friend's father was and still is, take up something that they don't actually need.

Don't these people know about oppurtunity costs.

There is only so many pieces that a pie can be cut and if those who are not hungry eat it, then what about those that are hungry?

walao said...

By not paying his fees and loan for so long, Omar has shown all of us what kind of person he is. His integrity, priciples, honesty as a business man.....flush to the toilet bowl.

And PM still want him in??

utomo said...

Bro,

anak orang kaya yang mampu dan senang dapat kerja pun tak nak bayar biasiswa, apa lagi anak orang miskin yang susah nak dapat kerja sebab tak de kabel.

lantak le korang, masa pilihanraya nanti au le nasib kau BN dan PR.

baik aku pangkah PAHAM.

professional malay said...

True Malay struggle was full of dignity, integrity and humbleness of our roots and history.
PERJUANGAN BELUM SELESAI........

ChengHo said...

Why Najib still defending on this guy Omar? there are plenty of good guys around.....

Mustapha Ong said...

I am puzzled what made Omar Mustapha decided to pay Petronas more than RM120k as he had been accused of default against his scholarship bond.

I understand that the issue of default is a matter of principle, as verbally agreed between Hassan Merican, Omar and the late MDC Chairman Othman Yeop.

In my opinion if Omar had defaulted as being accused, and caused him the opportunity to be appointed as a director in Petronas, Hassan should now clarify this issue which had been debated publicly in the alternative media.

It is no longer about Omar's integrity that he had refused to acknowledge the fact that he had defaulted the scholarship bond,given the dilemma he had served the government periodically. Omar had no intention to default as he had served the major portion of the the bond.

There are others who had defaulted the Petronas scholarship bond and yet Omar became the target,just because PM had nominated his appointment to Petronas BOD.This is a clear case of insubordination to PM's directive.

Now that Omar has settled the issue with Petronas, the ball is with PM whether he is still fit to be appointed to the board as directed.I think it would be embarrassing to PM if his directive is being sabotaged by certain individual in Petronas.

This same insubordination can also happened in other GLC senior appointments which had to be cleared by the prime minister.

I would like to rebut Tun Mahathir's remark that "Omar should choose to work in Ethos or PMO",which is for PM to decide since Omar has been headhunted by PM to serve him and the government.It is a national service and Petronas would have to refund the defaulted bond amount to Omar, should this scenario occurs in the near future.It is a complicating issue and the government has to be fair to Omar Mustapha.

Anonymous said...

This holier-than-thou misconception by Petronas Board is a farce. How can ONE new board member cause such havoc to Petronas?

The more reason now for PM to find out on the real reasons for objections instead of the "loan-defaulter" excuse.

Yes, majority of Petronas people are professionals but the majority dont realise the subtle thieves amongst them, the deceit that's going on!

Of course, with less political interference from UMNO warlords, it means the Petronas loot can be subtly shared amongst a privileged few without detection.

Eg: If these privileged few looted nett US3 billion/year indirectly via lucrative oil & gas contracts awarded etc, nobody will realise anything. Many knows white collar deals were done and made to look above board, that simple but billions get stashed somewhere via nominees.

Who are the privileged few? We can only guess but it will be an inner circle within the Petronas team, Mahathir? and the closest allies?.

Somehow this inner circle do not want any outsider to know the details of the looting that has been going on undetected (using sophisticated looting techniques perfected over the last 15 years)

eg: indirect payouts in deals for buying oilfields in Sudan, Egypt, CIS countries etc for US billions in fields originally discovered by others who wish to cash out.(Note: Petronas Exploration arm hardly made it's own large oil and gas discoveries).

Who really know what's inside the oilfields reservoir purchased by Petronas for US billions? Only god knows and reservoir engineers can only guess the barrels available but Petronas surely paid for it!

Yes, these purchased oilfields maybe producing today but we do not know really how long these fields will produce do we? but the payouts for the deals are made upfront.

Sorry for this but a fact is a fact. It is a known amongst those closest, that this President, is a heavy alcohol drinker, who circles himself in private fucntions will similar minded 'indians'. If anyone says this is baseless, proof it.

At the same time, same will dutifully and regularly hold islamic religious sessions like tahlil recitations, doa selamats (prayers sessions), be seen at Friday prayers etc. Why? for show?

Can such a person be called a person of high integrity? Is he deceiving the stakeholders?. if one is capable of getting away with such a deceit for 15 years, doesn't this concern the Board? .

What the PM wants to do is to have check and balance. There must be a reason for this resentment of "outsiders" who has ability to see through the facade.

But again do not get us wrong. Majority of Petronas people are professionals but our concern is the inner circle leadership.

One Petronas VP obtained Datukship after serving hardly 4 years in Petronas but not the peers who are more deserving? How and why? It goes to show that if you suck up to the inner circle, you will move fast and this leads to bad in-breeding. So, process is not transparent here.

Petronas must regularly revamp it's leadership with infusion of outside talents. Don't tell us that a few outside talents can suck Petronas to death. The internal competition will take care and ensure no wrong doings.

The chain of command who sucks to the top and built over the last 15 years must be a huge concern. A few new blood will help to provide the internal competition, which is a necessary ingredient to take Petronas to its next quantum leap. Did we not learn from the fallout of absolute in-breeding?

It's time to make changes to Petronas by adding just a few new blood, starting with the top.The current President himself was an outsider when he came on board. The professionalism and competition will do good to Petronas and as professionals, it is no big deal.

The hua-ha is raised only by a media savvy honcho who is bent on staying for as long as possible, not for Petronas interest but for other reasons only known to those who are hell bent on maintaining the 15 years status-quo. Something is not surely not right.

The Insider

Anonymous said...

The Insider has made some very good comments (and I have to salute you for speaking out ).

There is an INNER CIRCLE within Petronas. Suck up to the 'inner circle' and you will be rewarded.

Having someone with a bit of intelligence (like Omar for example) and who has nothing to gain on the Board poses a risk to the inner circle. Whereas previously, the Board merely does the bidding of the President and Chairman. The situation now will have changed, you will have 1 Non-Executive Independent Director asking questions which nobody quite has the answers for.

Who are the members of the inner circle? The current Board Members have very little powers or influence BUT a keen observer will soon figure out how (and by whom) the siphoning is done. (Hint: Look for those just a few layers below the Board)

The mere mention of 'corruption' in Petronas is a taboo and even 'abnormalities' uncovered during the internal/external audits are being 'conveniently managed'. Everything is a 'non-issue'. Auditors have to comply or else contracts may not be renewed..(or you just get re-assigned).

As a Petronas contractor, if you don't pay someone, you don't get the job. Simple as that. Now imagine the quantum being paid for E&P activities.

This is precisely why the idea of Omar coming onto the Board causes so much fear/uneasiness on the part of those who have been secretly looting the company for so many years....


An Outsider

p.s. Hassan is a drinker.

Average Joe said...

@ anon 4.54am & 11.58am

hrrmmm... teori dan telahan anda cukup menarik dan berjela, tapi sayangnya bukti sikit habuk pun tarak.

elok juga perluaskan "transformasi" yg telah dijayakan di TNB dan MAS ke Petronas ye? a transformation from PROFITABILITY to LOSS !!!

bogey said...

Hello Mr Insider and Outsider;

You two are such a chummy pair of spring weaver birds.

You weaved such beautiful nest, "immune" to expected and anticipated attacks.

Sadly no weaver birds' nests hold water, never water-proofed; no proof; no body will buy it even for decoration at roadside coffee stalls.

You are lying in everybody's face forgetting that your faces twice over exposed. You don't even believe your lies yourselves.

Anonymous said...

Outsider,

Omar Ong has nothing to be gained by being in BOD? Then follow TDM's advice, join Petronas and leave Ethos. Why is he clinging to his company? If you are in the BOD of Fortune 500 company, there is something to be gained alright. Don't be a fool lah...

Lots of stories being bandied around, probably by parties aligned to Omar Ong about corruptions and unlawful practices in Petronas. If they are true, why report here to Rocky Bru's blog? MACC ada kan? Bring evidence with you. Jgn fitnah tak tentu pasal

...The END is near...

skilgannon1066 said...

Anonymous 11:58AM

So you say that Hassan is a drinker? Proof?

I can also say that some people have told me that certain Malaysian VIPs are known to indulge in alcohol when they are in Singapore. At certain 5-star hotels and karaoke lounges, so it is claimed.

A load of bull faeces or the truth? Take your pick.

Dean said...

Why do we need those related to the 4th floor boys of KJ / Badawi. Better shut them out or best ship them out of this country!

Dean said...

Why do we need those related to the 4th floor boys of KJ / Badawi. Better shut them out or best ship them out of this country!

Darryl Khoo said...

Personally, whether he pays or not doesn't really matter. What matters is having not paid in the past years shows his character which is "how can you trust a person who has used your money and does not pay up after he gets rich!".

Darryl Khoo

Anonymous said...

another angle to look at this;
- so you would rather have an excellent student like him just be a "normal" employee then?? day in day out just clocking the hours just because he is tied to the Petronas bond. I wonder how many brains out there could have reached the peak of corporate ladder if not for the scholarship contract?? Had he only served his scholarship bond, perhaps he is only a senior manager (the most) by now. are you telling the brilliant students that we cannot dream big just because someone else pay for our studies? that we are only good to work for the payor? and work for incompetent boss just because he or she is our senior?
p/s would you treat "omar ong" the same had he been your relatives? Points to ponder people =)
(I am not condoning his act of defaulting on his bond).

~a scholar stuck in GLC~