Malaysia�s Petronas profit continues to fall

AFP, KUALA LUMPUR: Malay-sian state energy firm Petronas said yesterday its third-quarter earnings plummeted 91 per cent as weak global oil prices continued to weigh on the company.
Net profit at Malaysia’s only Fortune 500 company for the July-September quarter fell to 1.4 billion ringgit ($320 million).
“Petronas anticipates continued challenges due to the bearish market sentiments, and will continue to focus on internal measures of control to steer the company through the downturn,” it said in a statement.

Malaysia�s Petronas profit continues to fall

AFP, KUALA LUMPUR: Malay-sian state energy firm Petronas said yesterday its third-quarter earnings plummeted 91 per cent as weak global oil prices continued to weigh on the company. Net profit at Malaysias only Fortune 500 company for the July-September quarter fell to 1.4 billion ringgit ($320 million). Petronas anticipates continued challenges due to the bearish market sentiments, and will continue to focus on internal measures of control to steer the company through the downturn, it said in a statement.