PETRONAS paid govt RM40 billion in dividend on 2023

The Star

Petronas president and group chief executive officer Tan Sri Tengku Muhammad Taufik Tengku Aziz on Friday (March 15) said that Petroliam Nasional Bhd (Petronas)  paid a total of RM40 billion in dividends to the government in 2023 while its National Trust Fund contribution amounted to RM2 billion.  Read more at: https://tinyurl.com/yncxr5an   WATCH MORE: https://thestartv.com/c/news SUBSCRIBE: https://cutt.ly/TheStar LIKE: https://fb.com/TheStarOnline

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00:00 After having carefully and rigorously assessed the Group's affordability to continue to fund

00:05 its operations, service its debts and meet its obligations, as well as invest in future

00:09 growth, Petronas last year made the scheduled dividend payments of S$40 billion to the Government

00:15 of Malaysia. In the same stride, Petronas also continued to uphold its commitment to

00:21 seed the National Trust Fund, with a further contribution of S$2 billion in 2023. Logic

00:30 will dictate that managing a depleting resource cannot be an infinite venture. While we are

00:37 able to, the funds we generate must, and indeed should be and must be and will be, set aside

00:46 for the benefit of future generations. As I report these results to you today, Petronas

00:52 remains the sole contributor to the NTF since its establishment in 1988, with a cumulative

00:58 total paid contribution of S$13 billion. Something for us to ponder.

01:03 The Group recorded CFFO at S$114.2 billion in 2023. This sufficiently covers expenses

01:12 to enable safe business operations, financial commitments, debt obligations and at the same

01:17 time support growth investments and dividend payments to our shareholders. As at 31 December

01:24 2023, total borrowing stood at S$111.6 billion. During the period, Petronas paid S$40 billion

01:33 dividend to shareholders, S$31.5 billion for tax payments, including state sales tax, S$13.4

01:42 billion of petroleum cash payments, S$2 billion towards the National Trust Fund and more than

01:47 S$850 million to support the sustainability and community well-being that benefited close

01:54 to 3 million beneficiaries around the world.

01:57 Do you have a plan on the dividend payable to the Government in 2024?

02:03 2024. Shall I allow Lisa to outline what the expectations are and what has been authorised

02:11 by our Board?

02:12 Thank you, Tan Sri, and thank you for the question. Yesterday, the Petronas Board approved

02:19 a dividend payment of S$32 billion. It will be paid between the months of April to December.

02:32 So it has just been approved yesterday, during our Board sitting, when we approved the audited

02:35 accounts. Thank you.

02:36 Thank you.

02:37 Thank you.

02:38 Thank you.

02:39 Thank you.

02:40 Thank you.

02:41 Thank you.

02:41 [BLANK_AUDIO]

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