Wednesday, January 20, 2010

Petronas Hassan Contract NOT RENEWED.

The latest new in the market is that Hassan Merican (who did a fantastic job) position as Chairman and CEO of Petronas which expire in February will NOT BE RENEWED. It is well known that Hassan does not see eye to eye with PM Najib who is trying to put his men into the board of directors of Petronas. When Najib nominate his crony Omar Ong as a director of Petronas,he received fierce resistant from Hassan who rejected Omar Ong nomination.This make Najib angry and he forced Hassan and the board of Petronas to accept Omar Ong as a director of Petronas. As Petronas is under the control of the PM dept,Hassan and the board have no choice but to agree to the PM order. As a chartered accountant, Hassan is known to be independent in making decision for the good of Petronas and thus,he have step on the toes of many BN politicians especially those from UMNO. Hassan made a good and brave decision in SPONSORING Mercedes in F1 instead of Lotus F1 and this make Najib good johannian friend Tony Fernandes very angry. As Hassan will be a HINDRANCE to Najib in Petronas,it is not surprising that his contract is not renewed. It is also rumoured that Hassan will join Anandan Krishnan as a director in Maxis and Binariang.