Too Simplistic To Liken Petros To Sarawak Cable Says Gps Man

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Fazzrudin Abdul Rahman says an online article making the comparison essentially dismisses the Sarawak government's professional capabilities.
Tupong assemblyman Fazzrudin Abdul Rahman said strict vigilance and accountability were crucial in any entity owned by the state government, including Petros. (Bernama pic)PETALING JAYA: A Gabungan Parti Sarawak (GPS) assemblyman has panned an online article which compared the direction of state-owned Petroleum Sarawak Bhd (Petros) with the troubled Sarawak Cable Bhd
Tupong assemblyman Fazzrudin Abdul Rahman said the comparison was too simplistic and essentially dismissed the Sarawak government’s professional capabilities, Borneo Post reported.
Fazzrudin, chief political secretary to Sarawak premier Abang Johari Openg, said the article made it seem as though all Sarawakians were incompetent when that was far from the truth.
“The claim that Sarawak Cable’s experience is an analogue for Petros’s failure is inaccurate. Sarawak Cable operated in an entirely different sector – cables, manufacturing and infrastructure – whereas Petros is in oil and gas.
“In scale and contribution, Petros has shown that Sarawak is capable of managing its resources professionally,” he said, pointing out that Petros is Malaysia’s third-biggest producer of oil and gas.
Fazzrudin maintained that strict vigilance and accountability were crucial in any entity owned by the state government, including Petros.
He said it was therefore important for Petros to keep a close eye on its financial performance, job creation and even environmental sustainability.
Fazzrudin was responding to an article by Suara.TV in which the author said Petros and state-owned airline AirBorneo could face the same risks that Sarawak Cable did if their strategic collaborations were not considered carefully.
The author cited an FMT article about Sarawak Cable, which was once seen as the rising star in Sarawak’s corporate landscape but was delisted from Bursa Malaysia in July amid mounting debts and liquidity issues. - FMT

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