Rozali RM33million bonus from Syabas. I would like to point out that the SYABAS CEO is not Rozali. Rozali is the Chairman and that the bonus paid to Rozali is from Puncak Niaga and not from SYABAS (Selangor state has board representation in SYABAS and would not have approved such pay). Puncak Niaga has major water construction and concession projects in China and India (and also quite big in Sarawak) and also an Oil and Gas unit that contributed 20.8% of the Group’s revenue in 2012. The Group’s Oil & Gas unit has successfully completed contracts with Kebabangan Petroleum Operating Company Sdn Bhd (“KPOC”), Newfield Peninsula Malaysia Inc (“Newfi eld”), Exxonmobil Exploration and Production Malaysia Inc (“Exxonmobil”) and Hess Exploration & Production Malaysia BV (“Hess”) in 2012. Therefore, the cartoon above is wrong and the widely believed and propagated lies that SYABAS gave their CEO Rozali RM33m bonus is wrong. As a public-listed company, it was the Puncak Niagas shareholders who voted in favor of the bonus. Personally, I think the bonus is too much but Gentings CEO got a package 4 times that size too.
Posted on: Tue, 08 Apr 2014 05:07:37 +0000
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