PETRONAS WILL NOT BE FLOATED ON BURSA MALAYSIA, SAYS PM

KUALA LUMPUR, Nov 12 (Bernama) -- Petronas will not be floated on Bursa
Malaysia (Stock Exchange) for public or foreign company ownership in view of the
national oil coporation's contributions to the country, Prime Minister Abdullah
Ahmad Badawi told the Lower House of Parliament Tuesday.

The government will ensure Petronas continues to remain as a state-owned
corporation, he said in his written reply.

The Prime Minister said Petronas is the biggest revenue contributor to the
government's coffers, adding that this year it contributed about RM62.8 billion
(US$17.5 billion)or 44 per cent of the government's overall revenue for
2008.

Abdullah said eventhough Petronas was not floated in the stock market,
several of its subsidiaries were listed in Bursa Malaysia, a move that has
helped expand the country's stock market.

"So far, four subsidiaries -- Petronas Dagangan Bhd, Petronas Gas Bhd,
MISC Bhd and KLCC Property Holdings Bhd have been listed on Bursa Malaysia," he
added.

Fong had asked Abdullah on the government's reaction to the call by the
Malaysian Investors' Association to float part of Petronas' shares in the local
bourse for public ownership.
-- BERNAMA