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petron malaysia refining & m (3042) Details

Petron Malaysia Refining & Marketing Bhd manufactures and markets petroleum products in Malaysia. Its products include gasoline, diesel, liquefied petroleum gas, industrial and commercial fuels, and aviation fuel. The company is based in Kuala Lumpur, Malaysia. Petron Malaysia Refining & Marketing Bhd is a subsidiary of Oil & Gas International Sdn. Bhd.

292 Employees
Last Reported Date: 04/29/15

petron malaysia refining & m (3042) Top Compensated Officers

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petron malaysia refining & m (3042) Key Developments

Petron Malaysia Refining & Marketing Bhd Announces Updates on Lawsuit

Petron Malaysia Refining & Marketing Bhd announced that the High Court in Kuala Lumpur, on June 30, 2015, delivered Judgment on the suit. Whilst dismissing most of KLSSB’s claims, the High Court nevertheless ruled that a sum of MYR 3,387,212.50 was payable by the company to KLSSB, and interest on the sum, at the rate of 5% per annum from the date of the filing of the Writ of Summons until the date of full and final settlement. The company was further ordered to pay a sum of MYR 15,000 as costs to KLSSB. The company is currently in consultation with its external counsel to review the grounds of judgment, and on the reasons expressed in the said judgment, to award said sum of MYR 3,387,212.50 to KLSSB. Matters that will be considered by the company will include any possible appeal against the High Court’s decision in awarding KLSSB the said sum of MYR 3,387,212.50. The company does not expect or anticipate any material impact to its finances or operations as a result of this judgment.

Petron Malaysia Refining & Marketing Announces Executive Changes

Petron Malaysia Refining & Marketing announced that Mr. Ferdinand K. Constantino was appointed to the Nominating Committee and as Non-Executive Director effective June 16, 2015 to replace Y. Bhg Tan Sri Abdul Halim Ali. Y Bhg Tan Sri Abdul Halim bin Ali, having served more than 9 years on the Board of Directors of the company, opted to retire from the Board of Directors and not see re-election at the Annual General Meeting of the company on June 16, 2015. His retirement from the Board of Directors is the subject matter of a separate announcement.

Petron Malaysia Announces Management Appointments

Petron Corporation announced the appointment of Jaime O. Lu as VP & Operations Manager and Myrna C. Geronimo as AVP & Chief Finance Officer, Petron Malaysia, effective from May 19, 2015.

 

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