Corporate Nation-Building Award (Private sector)
Petronas
A petroleum multinational corporation headquartered in Kuala Lumpur, Malaysia
Petroliam Nasional Berhad (National Petroleum Limited), or Petronas is a petroleum multinational corporation headquartered in Kuala Lumpur, Malaysia. Since its incorporation in 1974, Petronas contributes to Malaysia’s nation-building directly and indirectly. For example, dividends from its profits are paid to the Malaysian government continuously. In 2020, the company is going to pay 24 billion Malaysian ringgit dividends to the government, and recently, the company had approved an additional 10-billion-ringgit dividend to the government to help fight the COVID-19 pandemic. The company also helped create jobs and employed at least 48,000 employees in 2018 and despite the challenging environment in 2020, the company insists that there are no job cuts by Petronas.
Importantly, the company has contributed to business development in Malaysia by investing in R&D unceasingly. By their sheer determination and continuous development, now Petronas is not just a national company, but transformed rapidly into a global company with oil and gas explorations and business joint ventures with overseas partners in more than 30 countries worldwide; and ranked among FORTUNE Global 500 largest corporations in the world. The company’s dedication and commitment to develop and add value to this national resource as well as to contribute to the well-being of the Malaysian people, the nation; and the world is truly well-known.