by E.S Shankar
PETRONAS LISTING! Prime Minister Mahathir talked about a plan to reduce our RM1T debt by RM200 Billion. I would like to suggest a Petronas Listing to raise money and reduce debt to manageable proportions.
Based on Petronas 2017 profit after tax of RM45B and a moderate PE of 20, it would have a valuation of 45 x 20 = RM900 Billion. CLICK HERE.
If we list 30%, then we could raise 900 x 30% = RM270 billion.
However, the market will probably recognise a higher valuation, based on cleaning up Petronas balance sheet, cutting out fat and wastage and the much talked about and pending Saudi Aramco listing.
Aramco is valuing it's company on it's oil reserves @ some astronomical valuation of US$40 Trillion! But, there is considerable resistance at that pricing. CLICK HERE.
But, I reckon Petronas, as a new lean and mean fighting machine, could possibly be valued as high as RM1.5T, which @ 30%, will give us RM450 Billion to play around with.
I have emailed Tun and Finance Minister Lim Guan Eng with this suggestion. They have probably already been thinking along the same lines and have started working on it. What do you think?
8 comments:
Pemandu did a study in 2017 on listing Petronas. Nothing new to brag about
Hope the new government will consider it.
It is another way to make Petronas transparent as is will be a public company.
Anon 6.27
Where have I bragged about anything? The Govt has asked the Rakyat for suggestions on its debt, and I have responded. And where is Idris Jala and his bozos today? Having run up a record debt under Najib, where are they with suggestions? More NKEA, KRA, KRU, KRUK bullshit? Pemandu may have done a study, but why no action on listing.
Very sensible
The IPO should be offered to all Malaysian above the legal age to buy shares from a minimum number of shares of 100 to say a maximum of 50000.
If Najib list Petronas, the people will say he is plundering Petronas like he did to Felda
If Mahathir doing it, he is saving the nation.
Anon 8:41
Unlike Najib, Mahathir did not steal $2.6 billion and claim it was a donation, did he? And what about Najib's $46 billion 1MDB/SRC fraud? What do you make of his credibility?
Good.Time to capitalise our assets.
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