From The Malaysian Insider
By Lee Wee Lian

KUALA LUMPUR, June 25 — National oil company Petronas’s net profit declined by 13.9 per cent due to low oil prices and high production costs.

The group reported RM52.5 billion in net profit compared with RM61 billion the previous year.

Petronas CEO and president Tan Sri Mohd Hassan Marican does not expect oil prices, currently around US$50 a barrel compared with a high of over US$140 last year, to improve any time soon.

“Fundamentals do not justify the prospect of high prices,” he told the media during a briefing on the group’s financial results.

“Demand is down and spare capacity has increased. My own opinion is that the current prices are due to speculative trading and the depreciation of the US dollar. We are still in a low price and high-cost environment till the global economy improves.”

The Petronas group’s revenue increased by 18.4 per cent to RM264.2 billion compared with RM223.1 billion the previous year.

From The Malaysian Insider
By Neil Khor

Politicians often speak from both sides of their mouths. The PM recently said that it was the religious duty of Muslims to be united.

No doubt this is true and there is nothing wrong with Muslims in Malaysia sitting down and discussing important issues that affect that community.

Similarly, there is nothing wrong if those who believe in non-racialism to sit down to find ways to unite all Malaysians regardless of race.

The problem is timing. If it is a religious duty, why now and not before?

umno 63 anniversary dinner 110509 03Previously, when Umno controlled a huge majority in parliament, they did not offer to share power with PAS.

They even sneered at PKR’s sole representative in the 2004 parliament, thinking that party was a bleep and headed for political oblivion.

Now, much weakened, Umno is throwing the olive branch at PAS, hoping to snare some sort of positive response.

Similarly, the MCA is also extending a friendly hand to the DAP, which it insists is a Chinese party. But what has been sustaining the DAP throughout the years is its non-sectarian framework.

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From The Malaysian Insider

By Asrul Hadi Abdullah Sani

KUALA LUMPUR, June 24 — The former Bar Council president wants Barisan Nasional (BN) to let the people and not the courts decide on Perak’s mentri besar.

“The answer is to go back to the people because the people will not be satisfied until they get their result and ultimately the power does belong to the people because once the people decides, everyone will accept it,” she said.

Datuk Ambiga Sreenevasan was speaking at a public lecture here last night organised by the Chevening Alumni of Malaysia.

Ambiga added that BN would be able to get back much need credibility if the ruling coalition would go to the polls and drop all charges against Datuk Seri Anwar Ibrahim.

“Do the right thing, just do the right thing and immediately people will say that they are quite reasonable but when you force these issues which people can read… we are not stupid, you cannot insult the intelligence of the people to understand what is really happening,” she said.

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