Is Petron owned by Mirzan Mahathir? Not if you look at the List of Directors…


Boycotts Against BN Cronies and Companies

The Politics of Bread, Sugar and other UMNO Businesses in Malaysia: Crony Companies

The rumor remains: Mirzan Mahathir owns Petron…

30 August 2018


The Third Force is a propaganda blog, says Rewcastle-Brown

September 3, 2017

Sarawak Report editor Clare Rewcastle-Brown slams New Straits Times for republishing posts from non-credible source as if it is accurate.

PETALING JAYA: The Third Force is not a news portal, but is just a “habitually libellous propaganda blog” that shouldn’t have been cited by any newspaper, says Clare Rewcastle-Brown.

The Sarawak Report editor was responding to a report by the blog, which claimed she had failed to furnish evidence over her allegation that PAS president Abdul Hadi Awang had received RM90 million from Prime Minister Najib Razak.


1 June 2018


Petron, Mirzan, Mokhzani and Mahathir – The richest oil barons in Southeast Asia (Part One)

Mirzan Mahathir holds shares both in Petron Malaysia (PEM) and its parent concern, Petron Corporation.

He is also a stakeholder in San Miguel Corporation, a Philippines based food and beverage giant that owns 68.3 percent of Petron Corporation.

In 2011, Tan Sri Shahril Shamsuddin undertook in a massive RM12 billion deal with Tan Sri Mokhzani Mahathir to merge SapuraCrest Petroleum Bhd with Kencana.

The deal came to be known as “the largest deal ever in the history of corporate Malaysia” and gave Mokhzani access to exploration, extraction, shipping, and wholesale activities involving both ExxonMobile and Chevron.

The operations covered an expanse of over 1.3 million acres in Malaysia and Indonesia alone.



Mirzan does not own shares in Petron Malaysia, says firm

Petron Malaysia Refining & Marketing Bhd (Petron Malaysia) today disclosed to Bursa Malaysia that Mirzan Mahathir does not own any shares nor does he have any role in the company.

Petron Malaysia made the statement in response to a question from a stockholder at its annual general meeting pertaining to Mirzan’s shareholdings in Petron Malaysia and its parent company, Petron Corporation, and the ultimate holding company, San Miguel Corporation.

The company clarified that Mirzan is a board member of its parent company, Petron Corporation of the Philippines.

He was elected as a director of Petron Corporation on Aug 13, 2010 and holds 1,000 shares.

Under the company’s by-laws, a person has to be a shareholder to qualify as a director.

Petron Corporation has 9.4 billion shares listed on the Philippines Stock Exchange.

Prior to the directorship in Petron Corporation, the company said Mirzan was a director of San Miguel Corporation for a brief period from Sept 1, 2009 until April 15, 2010.

He currently holds 5,000 San Miguel shares. San Miguel Corporation has a total of 3.3 billion shares listed on the Philippines Stock Exchange.

“We hope these facts will put an end to all the speculations in connection with Mirzan, which are unfair to Dr Mahathir Mohamad’s family.

“The shares held by Mirzan in San Miguel Corporation and Petron Corporation are essentially qualifying shares for directorship,” Petron chairman and chief executive officer Ramon S Ang said in a statement.

“San Miguel, Petron Corporation and Petron Malaysia are public-listed companies, adhering to the strictest standards on governance,” Ang added.


Mirzan does not own shares in Petron Malaysia, says firm


31 May

Petron 1Q profit falls 63% to RM31m




petron 003

petron 001

Is Petron a crony company? Frankly, I’m not committed to the boycott of any firm that is UMNO-related. As I’ve written elsewhere (see The Politics of Bread, Sugar and other UMNO Businesses in Malaysia: Crony Companies), I buy Massimo bread simply because of taste and pricing and not because I reject the UMNO-linked Gardenia bread.

Some of what I wrote about Massimo and Gardenia bread is reproduced below reproduced below:

Sunday 20 May 2012

I first tried Massimo bread in mid-December 2011 (last year). It has been just over 5 months and I have not switched back to Gardenia. It is still rm2.50 a loaf for the bread with wheat germ. It is true that it is not as substantial as Gardenia bread with wheat germ but I find the latter too substantial.


I also wrote the following, which was published in the Malaysian Insider:

Makers of bread: Perception is almost everything

I eat nasi lemak as it’s delicious but I avoid the ones that are too lemak. Nothing to do with who makes it, Malay or Chinese. I love the mee rebus and rojak that the Mamak sells at a Chinese coffeeshop. I haven’t found any Chinese man who makes a better product.

Satay? A Chinese man in Ipoh Garden sells them at 50 sen each; each stick is the biggest you can get it. The Malay man sells them at 60 sen each and his satay is too sweet for me. I order satay on the basis of price and taste.

As for roti canai, the Mamak makes better roti canai than…well, who else makes it? No one else that I know of.

What’s my point? It’s simply that, like almost all Chinese who are Malaysians, I love good food and will frequent stalls and shops that offer good food regardless of whether the seller/owner is Malay, Indian, Chinese, Mamak or Australian. Yes, there is an Australian who makes extremely delicious pies. He’s married to a Chinese woman. We enjoy his pies once a fortnight.

When it comes to bread, I used to buy Gardenia white, not High 5. Gardenia was slightly better tasting. Eventually, I gave up on bread. White isn’t healthy for me. However, recently, a new bread arrived, Massimo. At RM2.50, the loaf with wheat germ is good for my health, the cheapest and suits my taste-buds. My wife likes it, too. Thus, it is Massimo for us. High 5 lowered its price to RM2.80 today (January 2) but I still like the taste of High 5 the least of the three. If High 5 lowers its price to RM2.20, it won’t matter to me. Massimo tastes better.

I eat Massimo for two reasons: it has the lowest price and best taste. It has nothing to do with ownership or whether the firm is a crony company. If Massimo raises its price to RM3.50, I would have to consider Gardenia bread again. The price, as well as taste, is important.

Unfortunately, many people eat Massimo because it is the cheapest, most delicious and, in their belief, made by a Chinese-owned firm, not by a crony company. They boycott Gardenia because, in their perception, it is made by a crony company. That’s what they have decided. They perceive things that way, and they act accordingly.

Which takes us to a very powerful statement, a sociological dictum: when people define a situation as real, it is real in its consequences. (W.I. Thomas, Polish sociologist)

No matter how the owners of Gardenia may attempt to project themselves as not a crony company, the definition of the situation of many bread-buyers/eaters is that it is a crony company. That perception is almost impossible to change.

My advice to Gardenia is not to waste money on adverts but to spend the money in a more worthwhile way: produce a better bread at a lower cost. Then, charge less, far less, than Massimo.

If Gardenia sells a more delicious loaf and at a lower price, they may just be able to get back some of the lost sales.

I, for one, would then buy Gardenia.

JAN 3 — I eat nasi lemak as it’s delicious but I avoid the ones that are too lemak. Nothing to do with who makes it, Malay or Chinese. I love the mee rebus and …… – Cached


Still, my intellectual curiosity wants to know.



Petron Malaysia is part of Petron Corporation in the Philippines, an emerging and rapidly evolving Asian oil company.

We joined Malaysia’s dynamic and progressive market with the acquisition of ExxonMobil’s downstream business in April 2012. Petron subsidiaries in Malaysia comprise of Petron Malaysia Refining & Marketing Bhd (formerly known as Esso Malaysia Berhad), a publicly-listed company listed on Bursa Malaysia; Petron Fuel International Sdn Bhd (formerly known as ExxonMobil Malaysia Sdn Bhd); and Petron Oil (M) Sdn Bhd (formerly known as ExxonMobil Borneo Sdn Bhd).

Petron Corporation, now on its 80th year, shares the same roots as ExxonMobil subsidiaries in Malaysia, tracing its lineage to 1933 with the formation of Standard Vacuum Oil Company. In the early 1960s, Stanvac was split between Esso and Mobil. In 1973, Esso Philippines was nationalized when it was bought by the Philippine National Oil Company (PNOC) and renamed Petrophil Corporation. In 1974, the company launched its service station brand Petron. In 1988, Petrophil decided to carry its service station brand as its corporate name, thus Petron Corporation was born.

With the establishment of Petron in Malaysia, we begin a new chapter of growth in our company’s storied heritage. Through the combined experience and expertise of our highly-skilled and motivated management and personnel, and our strong foundations in the oil & gas industry, we are dedicated and passionate about our vision to be the leading provider of total customer solutions in the oil sector and its allied businesses.


Malaysia Chronicle

Wednesday, 27 February 2013 09:31

Dr M: I’m clean and my sons are self-made

Former prime minister Dr Mahathir Mohamad has again attacked his former deputy who he dramatically sacked and jailed in 1998.

This time, Mahathir denied Anwar Ibrahim’s allegation that he had awarded Petronas contracts to his son.

Prior to this, Anwar questioned the government’s below-market sale of its stake in ExxonMobil to Phillipines conglomerate San Miguel Corp, of which Mahathir’s son Mirzan Mahathir was one of its directors.

Anwar said Mirzan despite resigning from San Miguel still remained a director of its associate company Petron Corporation. In 2011, San Miguel offered to buy ExxonMobil’s stake in the Malaysian oil refiner at a lower price than the current market value.

Prepared to swear upon Qur’an

He pointed out that Petronas, in which he is the advisor, subscribes to a level-playing field and does not favour only his son.

He claimed that he came to know news that his son Mirzan had been awarded a contract by Petronas only after the deal had been finalised.

“I am prepared to swear upon the Qur’an inside a mosque, that I have never participated in the awarding of the contract to my son,” said Mahathir, who even repeated his challenge to Anwar to take an oath of innocence over allegations of sodomy.

Mahathir argued that the authority behind Petronas’s decisions rests on prime minister Najib Razak, and defended Mirzan against accusations that he was involved in San Miguel, once a major brewery, saying the company has now diversified its business.

He said due to the accusation, his son had to let go his post in the company’s board of directors.

“Now he is only a director of Petron,” said Mahathir, referring to the former Exxon Mobil, and added that Petron’s contract to supply aircraft fuel in KLIA was inherited.




Mirzan: I’ve no share in Petron Malaysia

Saturday, 02 February 2013 Super Admin


(Business Times) – Mirzan Mahathir, who is the second son of former prime minister Tun Dr Mahathir Mohamad, has reiterated that he does not own shares in Petron Malaysia.

“As one of the directors at San Miguel Corp, I admit that I have 1,000 shares in Petron Corp but only because I sit on the board. I have no interest in Petron Malaysia whatsoever,” Mirzan told reporters here on Thursday on the sidelines of the Malaysia Strategic Outlook.

Mirzan was responding to allegations by opposition defacto leader Datuk Seri Anwar Ibrahim who said Mirzan holds substantial shares in San Miguel, formerly a brewery company which is linked to the late President Ferdinand Marcos.

Petron Malaysia is part of the Petron Corp which in turn is owned by Philippines-based San Miguel group, which bought a 65 per cent stake in Esso Malaysia from ExxonMobil International Holdings Inc for RM1.8 billion in 2011.

In a statement released in September last year, Mirzan said he sits in the San Miguel board to represent an investment group QTech Alliance Holdings Inc which has investments in San Miguel.



Free Malaysia Today

‘Boycott Petron to fight corruption’

B Nantha Kumar | July 13, 2012

Malacca’s G Rajendran says that would be a better way of fighting corruption than relying on the police and MACC.

PETALING JAYA: A PKR leader has suggested that a boycott of companies owned by BN cronies would be a more effective method of fighting corruption in Malaysia than depending on action by the police or MACC.

Malacca PKR vice chairman G Rajendran said he would start the ball rolling by launching a “Say No to Petron” campaign against the new petrol and gas company, which is said to be owned by Mirzan Mahathir, one of former prime minister Dr Mahathir Mohamad’s sons.

He told FMT the campaign would be initially carried out through Facebook and other social networking sites, but did not say when he would launch it.

“I’ll request Malaysians to boycott all Petron petrol stations to show our dismay over cronyism in Malaysia,” he said.

“Petron Malaysia Sdn Bhd, which has links with Mahathir’s son Mirzan, has taken over Esso Malaysia Bhd and all Esso stations are being rebranded to Petron.

“This is ridiculous. While the people are struggling, a few are enjoying a lavish life because of cronyism. Those who are related to powerful leaders are getting favours without any problems.

“I am really saddened by our system.”

Rajendran said cronyism, in his book, is just another name for corruption.

Petron acquired the oil refiner Exxon Mobil Malaysia Bhd in April, when it bought 65% of the firm, and now has full ownership of the subsidiaries Exxon Mobil Malaysia Sdn Bhd and Exxon Mobil Borneo Sdn Bhd.

It has since rebranded 580 former Exxon Mobil fuel stations nationwide and, it is learnt, will do so with 120 more stations by the end of the year.

PKR de facto chief Anwar Ibrahim recently alleged that Petron paid for the acquisition with money gained from the sale of shares in the San Miguel beer company.

Anwar has also raised concern over a deal between Petron and Malaysia Airlines System (MAS).

Petron has signed an agreement with MAS for the supply of fuel for the national carrier’s entire Airbus A380 fleet for six months.


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9 Responses to Is Petron owned by Mirzan Mahathir? Not if you look at the List of Directors…

  1. Pingback: The Politics of Bread, Sugar and other UMNO Businesses in Malaysia: Crony Companies | weehingthong

  2. Pingback: The Call to BOYCOTT Chinese products! | weehingthong

  3. I like this gasoline station..nice services and I surprised. hope to see another petron station nearer to us center of kuala lumpur

  4. I don’t like chinese products..its a sub standard

  5. go chok tung says:

    nice services..that is why I am one of the proud customer here in malaysia

  6. shah rulnizam bin senit says:

    Saya shah rulnizam bin senit berminat ingin sertai petron malaysia berhad,macam mana caranya saya ingin sertai petron malaysia berhad..

  7. Pingback: Malaysia is Number 2 on The Economist’s crony capitalism index! | weehingthong

  8. Pingback: Cronyism in Malaysia… | weehingthong

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