Competition in Malaysian business lexicon means NO competition for the big boys. The feeding frenzy and free-for-all fight is actually only among the smaller boys.It’s the smaller boys who fight it out for a smaller portion of the business.
Petronas, it appears, has departed from its current practice of handing out jobs to only licensed players in certain segments such as oil and gas equipment makers and offshore support vessel operators.
Licensed players are those who are registered with Petronas and have fulfilled certain strict requirements as demanded by the oil company.
According to a report, state-owned Petronas will now award contracts to unlicensed energy services companies to encourage greater competition in the oil and gas industry.
Trust me, this is a new practice.
So what is the purpose of the relaxed rules?
According to the report – intoned with its usual strictly business and professional disposition – “the measures will attract more foreign investment to develop Malaysia as a regional energy hub”.
Pre-empting any anticipated protests from pressure groups and other economic pressure groups, Petronas went on to quickly add that such moves would “expose local energy services companies such as Malaysia Marine and Heavy Engineering Holdings Bhd, Kencana Petroleum and Ramunia Holdings Bhd to competition”.
read more at FreeMalaysiaToday.com
