Shamsul Azhar: He Had it Made

It was with elation that I read of Datuk Shamsul Azhar Abbas being appointed president and chief executive officer of Petroliam Nasional Bhd (Petronas) effective Feb 10 to replace Tan Sri Mohd Hassan Marican who ends his contract with the national oil company a day earlier.


Shamsul and I studied at the same university way back in 1971-1974. We went separate ways after that.With this appointment he is the most successful corporate head from my cohort at Universiti Sains Malaysia. My congratulations to him.

Let us read what the STAR has to stay about him and the fate of his predecessor.

"Shamsul was also appointed acting chairman of Petronas.

In a statement yesterday, Prime Minister Datuk Seri Najib Tun Razak said he was confident Shamsul, 57, possessed the qualification, authority and experience to bring continued success to Petronas.

Shamsul, who spent his career at Petronas, has vast experience in the oil and gas industry and his last position before retiring as the president and chief executive officer of MISC Bhd between 2004 and 2009.

Having joined Petronas in 1974, Shamsul had held various important positions in the company where he was the vice-president of the oil, petrochemical, upstream exploration and maritime and logistics businesses. Shamsul was seen as the frontrunner among three candidates was tipped to replace Hassan.

The others were Datuk Anuar Ahmad (Petronas Dagangan Bhd chairman) and Datuk Wan Zulkiflee Wan Ariffin (former managing director/CEO of Petronas Gas Bhd from 2003-2007).

Najib thanked Hassan for the contribution he has made to the country and the petroleum industry as the president and chief executive officer of Petronas since 1995.

Hassan, who began his service in Petronas in 1989 as senior vice-president finance, was also acting chairman from 2004.

During his time at Petronas, the company rose in reputation and performance and was acknowledged as the country’s sole Fortune 500 company.

Najib said he hoped Hassan would continue to contribute his knowledge and experience to the country especially in the field of energy.

Sources indicated Hassan was offered the post of special adviser to the Prime Minister on gas but it was unclear if he would take up the offer."

Notice to MRCB Shareholders

This is an important announcement for those buying the rights issue of MRCB.

RENOUNCEABLE RIGHTS ISSUE OF UP TO 482,271,409 NEW ORDINARY SHARES OF RM1.00 EACH IN MALAYSIAN RESOURCES CORPORATION BERHAD ("MRCB") ("RIGHTS SHARES") ON THE BASIS OF ONE (1) RIGHTS SHARE FOR EVERY TWO (2) EXISTING ORDINARY SHARES OF RM1.00 EACH IN MRCB HELD ON 2 FEBRUARY 2010 AT 5.00 P.M. AT AN ISSUE PRICE OF RM1.12 FOR EACH RIGHTS ISSUE

Dispatch Date: 4 February 2010

Date for commencement of trading of the rights: 3 February 2010

Date for dispatch of abridged prospectus and subscription forms: 4 February 2010

Date for cessation of trading of the rights: 10 February 2010

Date for announcement of final subscription result and basis of allotment of excess Rights Security: 24 February 2010

Listing date of the Rights: 5 March 2010

Last Date for sale of provisional allotment of rights: 9 February 2010; 5 pm

Transfer of provisional allotment of rights: 12 February 2010; 4 pm

Acceptance and payment: 19 February 2010; 5 pm

Excess share application and payment: 19 February 2010; 5 pm

Remarks:

The last date and time for acceptance and payment and excess application and payment are as above, or such other later date and time as the Directors of MRCB may decide and announce not less than two (2) market days before the stipulated date and time.

The abridged prospectus, together with the rights subscription form and the notice of provisional allotment (collectively referred to as the "Documents") in relation to the Rights Issue, will be dispatched on 4 February 2010 to the entitled shareholders whose names appear in the Record of Depositors of MRCB on 2 February 2010. These Documents will not be dispatched to entitled shareholders who have not provided an address in Malaysia. Any shareholder who is without a registered address in Malaysia and wish to provide a Malaysian address, should inform their respective stockbrokers to effect the change of address prior to 2 February 2010.