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| Spurn in Canada |
It rather shocking and sad that
Canada has spurned Petronas’s bid to take over Progress Energy Resources
Corporation. The reason for the nay is that the bid will not benefit the
Canadian nation.
In spite of Petronas’s pledge
to help spur Canada's nascent liquefied natural gas export industry by building
an LNG export facility on the country's Pacific coast, the government was
unmoved.
However, Petronas has 30 days
to make an appeal to the rejection.
What I am trying to impress
here is that we have squandered God-given resources in Malaysia just to take on
less economical ventures in far off areas.
I do understand President and CEO Shamsul’s concern
that it is about time that dividends to the government be capped so that development funds can be made for new acquisitions abroad as our own wells are
really drying out.
Malaysia will be a net import gasoline
nation the way we we are recklessly spending in luxuriant disregard for tomorrow!
The future is somber.
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