The Star’s interview with Petronas boss Tan Sri Hassan Merican reveals that the national oil company’s will not involve itself as an F1 team sponsor next year, which should end rumors that Petronas would step in to sponsor the new Lotus F1 Racing team.
Here’s what the man himself said:
Petronas started F1 as a branding programme but we have since moved into the business. We had a very good relationship with Sauber that exposed our brand and gave us the opportunity to go global with our lubricants. It’s also timely when BMW took over Sauber and that gave us an opportunity to partner with an original equipment manufacturer (OEM). The years we were together with BMW and Sauber we benefited from the lubricant business. Petronas now has a 2% share of the global lubricants market while also being an OEM lubricant supplier to the Fiat Group. Next year, we have no team and the only reason for us to go back into Formula 1 is on a business deal, for the lubricant business.
But I think we Malaysians are so used to anything being possible that many will still sit up straight and look out for any inkling that Petronas would step in as a sponsor for Tony Fernandes and SM Nasarudin’s Malaysian team. Tony had previously said that the team would love Petronas to sponsor them at the sidelines of the Singapore GP this year.
inb4 "first" spammers…
well, better translate the savings to the consumers then. Us.
This is a good news.
Even our oil and gas giant knows how to assess current economic crisis. Good move by Petronas. At least their advisors (think tank) is going towards a good recovery direction. Not like some other idiot conglomerate that spends like crazy. Perhaps a lesson of recent Dubai's Financial Crisis will be good for everyone. A prime example of "nafsu serakah versus so-called development".
Kudos to Petronas for safekeeping our national treasure (oil and gas)!
err..1st?
kenot be lah..they must sponsor..got no choise
Don't worry. Can use EPF money for that :) LOL
Guess no money for F1 tho. Need a lot for the Iraqi oil exploration i think.
if our f1 team will be able to achieved top 3 team in 2010 season then there must be other sponsor other than petronas interested sponsored our team, just like Brawn Mercedes they began 2009 season with no sponsor except on their own.
heard that petronas want to 'buang' their workers at least 9000 of them in Msia.
they got Iraq contract already…no need to market themselves anymore, keep yer head down and dig oil, by the end of next financial year, we (malaysians) wants at leat 80% of what u made
no! they have to sponsor f1.
It's the matter of branding! no matter what they have to!.
other wise? They spent that money for us?
PARDON PLEASE!
DO THEY SPENT THAT MONEY FOR RAKYAT?
it's still better they keep branding on.
eadgez : that's interesting, I've heard that rumor too. I got a fren who's a pet scholar, yet, having a difficult time to be hired by pet. He's worried abt his fate, as should he not get hired, he'd have to pay back all the amount pet sponsored him. He told me that (about 9,000 might be retrenched), but even he can't confirm, neither I got to ask his source.
Hopefully any other reader who heard about this can give more details…
do they spent that money for rakyat? that question is best given to the govt lol. 45% of the govt's income from taxes alone is from the so called "malaysia's own oil n gas company".
nevertheless, they should cont sponsoring F1. perhaps if they are in short of money they can reduce the amount in sponsoring, not stop sponsoring.
Lately the 1 Malaysia F1 Team had gain alot of exposure in the local newspaper & media,but sometime really dont understand,our Gov & the private sector keep on pumping money into this sport,but why when our World Class Rally Driver – Karamjit Singh ask for sponsorship,no one really dare to step up to help?? This guy even faced hard time just to get a new car for a Rally tournament few years back…The Sport Ministry & our Gov should really look into this,dont just want to gain popularity through F1 only…Karamjit Singh,we will always suppot you!!
bout the retrenchment issue, i heard that it too. but the exact numbers, im not too sure. prolly we malaysians are not quite used to retrenchment that makes it a big issue.
cutting down 9000 manpower is about…several billions in savings? hurm, i dont think that'l cover for petronas' RM20billion income reduction in the first half of 2009 compared to the same period of 2008 (got this info from our newspaper, the star i think).
furthermore if they are smart enuff they wont retrench the whole 9000 in an instant, but maybe in stages. and if they do, i think they'l stop reducing the manpower when the economy gets stable again.
tokmoh, ur scholar fren is not hired yet? prolly he graduated just after the economic crisis. and if im not mistaken, he doesnt need to pay the full amount if he didnt get hired. scholars only need to pay if they didnt pass the so called structured interview. if after 6 months or 1 year (im not really sure) he still didnt get hired means he's free from the contract.
well petronas won a lot oil contract in iraq in two major oil fields Majnoon and halfaya…maybe the money goes to iraq and stop to F1 hahaha….maybe it can be call 'money shortage' maybe…..too big money to small oil company….petronas win maybe it's muslim oil company…..
just average assumptions….
i think petronas will retrench 9000workers maybe true b'cause malaysia hav no oil anymore in 2013 but i think after Petronas got the enormous iraqi oil contract, petronas will retain 9000 workers mostly malay and maybe increase their workers….
Good thing to retrench. They probably have a 3 letter acronym for the excercise. But wonder if they'll kick all those bloodsuckers out. I guess the MCKKs and the STAR camps would still be in, those buggers should be digging deep. They will never change. It's always the insignificant that gets the boot.
OEM supplier for FIAT group? That means Petronas is used in:
Alfa
Fiat
Ferrari
Not bad list there.
Is this thread about petronas will not be in FI next year of petronas retrenching people? Few years back when Petronas joined F1, there were a lot of noises from 'rakyat' saying it was a waste to pump in billions into F1. Only last year petronas were lambasted badly (when the oil price was high) by rakyat for their foray in F1. It has been said so many times that petronas foray in F1 is purely a business decision. Now they are in MotoGP plak. OK what? with so much unceratinty and controversy surrounding F1 lately..it's a good time to reassess the involvement. As for the retrenchment..again maybe it's a business decision. Ok what? just like other companies..you can go and work with other oil majors if you wish..after all some people believe petronas has not done enough for the rakyat..
Seems like someone ran out of money. It's about time PETRONAS cuts down its expenses and starts focusing on its CORE business: oil production, refining and distribution. Also, all oil majors have cut down in manpower drastically, especially Shell, Mobil, Murphy…
In PETRONAS' case, our country is so dependent on its success that if it does not cut cost now, increase efficiency and productivity, it might as well be Malaysia's fate that could plunge hand in hand with it.
I say, leave the F1 and focus on income, profit, sustainability, otherwise Malaysia will drain PETRONAS dry.
dear sirimusa..r u a petronas staff? i notice its staff have the tendency to write its name in capital letters…just guessing..
yah..but i think name should be in capital letters coz its an acronym…
UBN as a our G will use their veto power to ensure Petronas lose all money for this 1Malaysia F1 team.
Rambo said,
December 20, 2009 @ 12:36 am
Lately the 1 Malaysia F1 Team had gain alot of exposure in the local newspaper & media,but sometime really dont understand,our Gov & the private sector keep on pumping money into this sport,but why when our World Class Rally Driver – Karamjit Singh ask for sponsorship,no one really dare to step up to help?? This guy even faced hard time just to get a new car for a Rally tournament few years back…The Sport Ministry & our Gov should really look into this,dont just want to gain popularity through F1 only…Karamjit Singh,we will always suppot you!!
—————————-
Rallying is not a visible sport as F1. You can ask any person on the street if they know Fernando Alonso or Michael Schumacher, and they'll say yes. Ask them about Marcus Gronholm or Mikko Hirvonen and they won't know who the hell are they.
BTW, I guess Petronas is stopping sponsoring F1 because of BMW's sudden pullout. They already braced for the worst and didn't plan for the fact that Peter Sauber managed to pull a miracle out of the bag to get the team on the grid next season. Besides, cutting your marketing budget in times of economic uncertainty is the LAST thing you should do. They should just maintain their budget and find other areas to cut costs. Plus, Petronas shortfall in profit should have been expected. After the ludicrous rise in oil prices last year and the sudden drop, you don't need an MBA to predict what would happen the record-breaking profits of the oil companies!
i heard mr tony & nasa guy said mesian team does not need gov sponsorship…and petronas certainly 100% owned by gov…so what de heck…
Dont make mesian pay for rich boys' toys…they wanna play, pay for it themselves….
PETRONAS is retrenching…that is a fact….few hundreds are out already in the first wave…
And, if you get kick out, and still on contract, u still needs to pay back your scholarship….
..petronas needs to save all the money that it can, coz although such a significant drop in revenue (59 or 69 billions?), petronas has pledged to continue dividends payout of 30 billions to the government, just like last year.. this is what i read.. cheers…
So now I wonder who will be involved in this F1 project?
Tony? He mentioned before he is only a management, not sponsor. AirAsia not stupid. I am awaiting to see Tony's Exit plan. Or else AA will be doomed by this money spending project.
Now who will be paying those money? Proton? Its all Khazanah / Gov money.
So I wanted to hear those F1 supporter who said it will not be sponsored by Government says?
Sirimusa, you are absolutely right, those in charge is killing the golden goose (you think they care about those people working in Petronas?), you think they plan about our future? Which someone else might take over? wake up, it is a luxury toy plan.
N…
Schumi almost confirm to drive for Mercedes GP aka Brawn GP (2009) in 2010. Er… D' Montezemolo was so upset and quote "Mercedes GP Schumacher is not the Schumacher we know before."
:-(.
2% of the global market share is a large number. Yeah, mystvearn, it means Petronas lubes are used in Fiat, Alfa, BMW in Malaysia … and also some exotic Italian supercar brands.
tokmoh : my fren just grad few months ago, july or august, around that time.
You'll never know… pet's lawyers can be nasty and tricky… well, not just pet, but I think most big corporate are like that. I have heard of some seniors at my ex-college who went to court for breaching their scholar's contracts…
If you've noticed, pet advertised their scholar's name that didn't pay yet recently asking them to pay. IMHO, all this could only mean there's trouble brewing…
I think pet won't retrench 9,000 sekaligus. Like u said, it'll be in stages……
argh…… why the heck I'm directing to myself… sorry, I'm directing my message to anakayam =.=
Petronas becomes the FIAT group lubricant supplier by default, as it has bought over the italian SELENIA lubricant company. FIAT uses SELENIA, so indirectly means petronas is supplying them lubricant, through SELENIA.
Similar story if someone uses PENNZOIL, actually there are using SHELL as PENNZOIL company is owned by SHELL.
Tiadaid said,
BTW, I guess Petronas is stopping sponsoring F1 because of BMW’s sudden pullout. They already braced for the worst and didn’t plan for the fact that Peter Sauber managed to pull a miracle out of the bag to get the team on the grid next season. Besides, cutting your marketing budget in times of economic uncertainty is the LAST thing you should do. They should just maintain their budget and find other areas to cut costs. Plus, Petronas shortfall in profit should have been expected. After the ludicrous rise in oil prices last year and the sudden drop, you don’t need an MBA to predict what would happen the record-breaking profits of the oil companies!
—————————————————–
hey dude, at last you accept the fact that we are facing economic uncertainty….So WHY you support our G pour money in 1Malaysia F1…
in this economic situation !!!!!
G said: to promote 1 Malaysia…
Bullshit, to promote it, action must be taken on the unfair policy first, not just bark loudly but nothing done
G said: there is no money spend by G,it is manage by private …..
Bullshit, this is Malaysia Goverment backing team, millions ringgit pour in already before its start either through formal or informal way…
next year open your fiat engine bay and see the tag said.."Petronas Recommended"..hehe..i wonder, Fiat got stake in Ferrari..will it cause some effect to them?..Ferrari+Petronas=a bit proud+funny..hehe..
lets just hope they (both PETRONAS & our govt) carefully spend the earnings. the company is currently in search for other source of revenue once the oil&gas here in m'sia has depleted, and the govt is also wisely spending the money (i hope). its the people's money after all, all that oil & gas.
kimi : I'm not sure, but I think it is possible that it is managed by private, and that the reason they put 1Malaysia blabla is to get tax exemption. AirAsia still owes about RM100m++ in taxes to the govt…
Its not the company or the government that runs away with the money; its the little napoleons who build small empires in the OPUs that will run away with the country's money. They are the ones who influence buying and maintenance parts and service.
imagine.. a plant at thai operated by 600 workers. same plant at malaysia, owned by petronas, operated by 2000 workers!
2/3 staff of petronas is engineers/managers.. how that can be?? mandur ramai, kuli sorg..
lu pikir la sendiri..
MalaysiaF1LotusF1 = PKFZ2 ? stay tune.
Najib really need that Petronas money + Wang ihsan for the kelantanese. So no need to sponsor F1. It's good news to hear that petronas is the supplier for Fiat lubricant. Good job here. If petronas sponsors LotusF1 sure the 2% share in lubricant business globally went down to below 1% because LotusF1 will always be a no 1 from behind the grid.
kimi_ said,
December 20, 2009 @ 12:51 pm
hey dude, at last you accept the fact that we are facing economic uncertainty….So WHY you support our G pour money in 1Malaysia F1…
in this economic situation !!!!!
G said: to promote 1 Malaysia…
Bullshit, to promote it, action must be taken on the unfair policy first, not just bark loudly but nothing done
G said: there is no money spend by G,it is manage by private …..
Bullshit, this is Malaysia Goverment backing team, millions ringgit pour in already before its start either through formal or informal way…
———————
Where's the proof? So far nobody has shown any proof of this.
some said petronas run by 2000 staffs??2/3 of the workforce is engineer/manager??dont talk crap when u know nothing bout petronas…this only shows your stupidity when giving some fact..Glad the management of Petronas still firm with this wise decision..not to waste the money into something crap like this F1Malaysia..
weird…. i havent heard 1Malaysia F1 team asking Pertonas to sponsor them… not even in the newspaper… They have been sponsoring the BMW's team….
So whay the F*&ck that you all bringing the 1Malaysia team into the discussion on Petronas stopping sponsoring BMW team and F1??? Stupid aaa???
Anything have to blame Govt or F1 project ka???
Wierd weird malaysian…. sigh…
weird…. i havent heard 1Malaysia F1 team asking Pertonas to sponsor them… not even in the newspaper… They have been sponsoring the BMW's team….
So why the F*&ck that you all bringing the 1Malaysia team into the discussion on Petronas stopping sponsoring BMW team and F1??? Stupid aaa???
Anything have to blame Govt or F1 project ka???
Wierd weird malaysian…. sigh…
just mentioned no F1 sponsor, but now signed long term with Mercedes Grand Prix team…
eyesore:
the 1Malaysia F1 team DID ask PETRONAS to sponsor them. just because it does not appear in the newspaper, it doesn't mean that it's not true.
silverarrows said,
December 21, 2009 @ 7:20 pm
eyesore:
the 1Malaysia F1 team DID ask PETRONAS to sponsor them. just because it does not appear in the newspaper, it doesn’t mean that it’s not true
———————–
That doesn't mean it's true either. Anyway, you can stop worrying about Lotus, Petronas signed with Mercedes GP. If Schumi's gonna drive with them, would we see Schumi doing the Malaysian GP promo in Malay? I remembered Alesi speaking Malay with a French accent for the Malaysian GP ad back in 1999.
eyesore,
refer to this.. .http://f1.gpupdate.net/en/formula-1-news/223625/lotus-on-the-hunt-for-sponsors/
From a business point of view…. it would made much more sense to sponsor Mercedes than Lotus. between the teams, Mercedes have the most branding power on the grid plus even more once Schumi on board.
Tiadaid:
they did ask for sponsorship. end of story.
silverarrows said,
December 21, 2009 @ 10:27 pm
Tiadaid:
they did ask for sponsorship. end of story.
—————
No it's not. Where's the proof? Any article, any interview? If it's just word of mouth, it's hearsay…
Tiadaid:
oi, kalau semua nak tunggu article and interview, susah la.
go and ask Tony berapa kali dia jumpa Petronas and ask for sponsorship?
hearsay my arse!