05 April 2013


Bekas CEO Petronas dilantik sebagai pengerusi anak syarikat Temasek

KUALA LUMPUR, 5 April — Bekas Ketua Pegawai Eksekutif (CEO) Petronas Tan Sri Hassan Merican telah dinamakan sebagai pengerusi Pavilion Energy Pte, anak syarikat tenaga baru di bawah Temasek Holdings yang menguruskan pelaburan Singapura.

Hassan yang meninggalkan syarikat minyak negara pada awal 2010 dikatakan mempunyai perbezaan pendapat dengan kerajaan, telah menerima jawatan lembaga pengarah beberapa syarikat antarabangsa dalam sektor tenaga, termasuk pengerusi Singapore Power Ltd semenjak Febuari tahun lalu.

Menurut laporan Bloomberg, Hassan dilantik bersama-sama dengan ketua eksekutif Temasek Seah Moon Hing yang menyertai Temasek pada Mac.

Former Petronas chief named chairman of energy company
Hassan left Petronas in 2010 allegedly due to friction with the government.

KUALA LUMPUR, April 5 — Former Petronas CEO Tan Sri Hassan Marican has been named as chairman of Pavilion Energy Pte, a new energy company under Singapore’s investment fund Temasek Holdings.

Hassan, who left the national oil company at the beginning of 2010 allegedly due to friction with the government, has been accepting directorships with several foreign firms in the energy sector, including as chairman of Singapore Power Ltd in February last year.

According to a Bloomberg report, Hassan was appointed together with chief executive Seah Moon Ming who joined Temasek in March.

The report pointed out that Pavilion Energy was set up with an initial authorised capital of S$1 billion (RM2.47 billion), to capitalise on the growing demands in Asia, especially on liquefied natural gas (LNG).

The energy company expects “to participate and invest in various parts of the LNG value chain to ensure long term LNG supply,” said Seah in a statement.

“These could include LNG trading; investing alongside international oil and gas companies as partners to develop upstream LNG projects; building of LNG storage and re- gasification terminals; and investing in LNG shipping.”

The company will start operations in September this year.

Hassan has joined a number of Singapore government-linked companies in the past few years, including SembCorp Industries Limited and SembCorp Marine Limited. He is also a director at Sarawak Energy Berhad and US oil and gas giant ConocoPhillips.

Marican, 58, was part of the board that had appeared to have clashed with the government back in late 2009 over the appointment of a former senior aide of the prime minister as a Petronas director.

It was reported then that the former aide, Omar Mustapha Ong, was rejected twice.

Hassan was widely credited with turning Petronas into the only other state-run major international player in the oil and gas space apart from Norway’s Statoil.

Hassan’s flurry of overseas appointments also comes at a time when Malaysia is grappling with a chronic brain drain that threatens to derail its ambitions to become a developed country.

Putrajaya however had in March last year dismissed concerns that Hassan’s move to Singapore was an indicator of Malaysia’s failure to address its “brain drain” problem, saying “there are no indispensable people in the world”.

Minister in the Prime Minister’s Department Tan Sri Nor Mohamed Yakcop told Parliament that in the current era of globalisation, the government could not stop individuals from migrating abroad for better job opportunities but could do its best to reap benefits from the phenomenon.

He said Hassan’s acceptance of top positions in firms outside Malaysia should instead be revered as an honour to the country as it shows the abundance of high-skilled human capital available here.

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