Petronas president and group chief executive officer Tan Sri Tengku Muhammad Taufik Tengku Aziz on Friday (March 15) said that Petroliam Nasional Bhd (Petronas) paid a total of RM40 billion in dividends to the government in 2023 while its National Trust Fund contribution amounted to RM2 billion.
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NewsTranscript
00:00 After having carefully and rigorously assessed the Group's affordability to continue to fund
00:05 its operations, service its debts and meet its obligations, as well as invest in future
00:09 growth, Petronas last year made the scheduled dividend payments of S$40 billion to the Government
00:15 of Malaysia. In the same stride, Petronas also continued to uphold its commitment to
00:21 seed the National Trust Fund, with a further contribution of S$2 billion in 2023. Logic
00:30 will dictate that managing a depleting resource cannot be an infinite venture. While we are
00:37 able to, the funds we generate must, and indeed should be and must be and will be, set aside
00:46 for the benefit of future generations. As I report these results to you today, Petronas
00:52 remains the sole contributor to the NTF since its establishment in 1988, with a cumulative
00:58 total paid contribution of S$13 billion. Something for us to ponder.
01:03 The Group recorded CFFO at S$114.2 billion in 2023. This sufficiently covers expenses
01:12 to enable safe business operations, financial commitments, debt obligations and at the same
01:17 time support growth investments and dividend payments to our shareholders. As at 31 December
01:24 2023, total borrowing stood at S$111.6 billion. During the period, Petronas paid S$40 billion
01:33 dividend to shareholders, S$31.5 billion for tax payments, including state sales tax, S$13.4
01:42 billion of petroleum cash payments, S$2 billion towards the National Trust Fund and more than
01:47 S$850 million to support the sustainability and community well-being that benefited close
01:54 to 3 million beneficiaries around the world.
01:57 Do you have a plan on the dividend payable to the Government in 2024?
02:03 2024. Shall I allow Lisa to outline what the expectations are and what has been authorised
02:11 by our Board?
02:12 Thank you, Tan Sri, and thank you for the question. Yesterday, the Petronas Board approved
02:19 a dividend payment of S$32 billion. It will be paid between the months of April to December.
02:32 So it has just been approved yesterday, during our Board sitting, when we approved the audited
02:35 accounts. Thank you.
02:36 Thank you.
02:37 Thank you.
02:38 Thank you.
02:38 Thank you.
02:39 Thank you.
02:40 Thank you.
02:41 Thank you.
02:41 [BLANK_AUDIO]