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(The Malaysian Insider) - KUALA LUMPUR: Prime Minister Datuk Seri Najib Razak has been rebuffed twice by the Petronas board over his plan to get a key aide appointed as a director — a rejection that his close aides see as an act of insubordination.
And Tan Sri Hassan Marican, the highly regarded chairman and chief of Petroliam Nasional (Petronas), is being accused privately of leading the revolt, industry officials say. This has led to growing speculation that Hassan's contract will not be renewed when it expires in February next year. Najib had wanted Omar Mustapha appointed as a Petronas director, but the board rejected his appointment because the 38-year-old aide had failed to honour a scholarship he received from Petronas, government officials say. Still, under the Petronas Charter, the board is answerable to the PM, who has sole discretion over all of the firm's activities, including the appointment of directors and senior management. While most bankers and government officials acknowledge that no individual is indispensable, in the close-knit global oil business, the ejection of people such as Hassan could have major repercussion, especially if such moves were read as political interference. “How the PM deals with this will have serious ramifications both at home and abroad,” said the chief executive of a local state-controlled bank. Petronas, the only Malaysian firm to make the Fortune 500 list of the world's most profitable companies, is one of the region's most globalised enterprises. READ MORE HERE:
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Several people? i think one person only. and that person is HAMSOR!