Strong fundamentals unchanged, Petronas says post-credit ratings downgrade
Petronas’ after-tax profit has grown by 9% year-on-year to RM14.2 billion in Q1 2019 on the back of 7% higher revenue of RM62 billion. – The Malaysian Insight file pic, June 21, 2019.
PETROLIAM Nasional Bhd asserted that its fundamentals remained strong despite its credit ratings downgrade by Moody’s Investors Service. In a statement today, the national oil company said it has consistently maintained a conservative financial policy and healthy net cash balance that enables it to withstand volatility and shocks in the market.
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