Former Petronas boss is now on our (SCORE) team…Hooray!

Posted on June 8, 2011



I saw the article (below) in today’s The Borneo Post and was surprised by what I saw and read.

Let me make myself clear…I was pleasantly surprised.

Let me make myself even clearer…it was not so much that SOMEONE had said in Mukah that “SCORE to also help develop Sarawak” (although it’s also pleasant news to hear)…THAT was not the pleasant surprise I’m referring to.

What I was surprised in a pleasant way to see was that one of the rock stars of Malaysia’s corporate scene is now working for/with us in developing Sarawak through SCORE!

And his appearance in The Borneo Post today was his first public appearance in Sarawak, in his capacity as “advisor of State Manpower Planning” (that’s what they call his post).

It’s fantastic news right?

Well, I really hope I’m not the only one excited about this piece of news, but I do realise that for some of us Sarawakians, the true corporate rock stars are mainly homegrown, such as Datuk Seri Idris Jala and the timber tycoons that have come out of Sibu and Miri over the decades.

For some of us Sarawakians, Tan Sri Mohd Hassan Marican may not even ring a bell but in national and international business circles, the man is a corporate giant.

By now, some of you may suspect that I am a fan but what really excites me is that now Sarawak will be able to gain from his wealth of experience in making Petronas what it is today.

His leadership allowed Petronas to become the country’s only representative in the Fortune 500 list. That is a big deal!

It’s an even bigger deal that he will now be helping us with SCORE!

Imagine that right after he left Petronas, Singapore (through its investment arm Temasek) quickly grabbed him to work for them (see articles below) and now apparently he’s with US, helping us with our SCORE!

I’d like to think that like our leaders in the State, he too can see the potential of SCORE in changing the lives of our people for the better and SCORE’s potential in helping to develop the whole country’s economy, as well.

Besides, since Petronas and the State of  Sarawak have the best international credit ratings in the whole of Malaysia, it wasn’t really a tough decision for him to make to join us in our efforts to bring greater prosperity to our beloved State.

I hope that this is just the beginning and that over the next few months and years we will continue to get more people of high caliber to make sure that our SCORE achieves its true potential.

How The Borneo Post reported Hassan Marican’s first public appearance in Sarawak:

‘SCORE to also help develop Sarawak’

Posted on June 8, 2011, Wednesday

CONGRATULATIONS: Mohd Hassan (fourth right) presenting a certificate to a student as (from right), Wahab, Koon, Philip and Dr Rabyah look on at Mukah Youth Camp.

MUKAH: The establishment of Sarawak Corridor of Renewable Energy (SCORE) is not just meant for big businesses but also to help develop Sarawak and its people to become industrialised and be a high-income community, said advisor of State Manpower Planning Tan Sri Mohd Hassan Marican.

As such, it is very important for the small and medium scale contractors and local traders to grab the huge economic spin-offs brought about by business and infrastrucure developments thriving within SCORE to improve their income and livelihood, said Mohd Hassan.

Mohd Hassan made the remarks in his speech at the closing ceremony of Industry Awareness Programme organised by Manpower Planning Unit in the Chief Minister’s Department held at Mukah Youth Camp here yesterday.

Mohd Hassan was the guest-of-honour at the programme attended by Manpower Planning Unit project director Dr Rabyah Mansor, deputy Mukah Resident (Social) Philip Peter Salam, Mukah District Education officer Abdul Wahab Sepawi and Koon Pak Soon of Press Metal Berhad, Mukah.

“SCORE is not only for big companies or rich investors but also to develop Sarawak and its people to become progressive through the path of industrialisation over many years. It is not a one-off project,” said Mohd Hassan who is also former president/CEO of Petronas.

He also called on Sarawakians to equip themselves with knowledge and skills in order to be competitive in the job market and successful in business and trading, particularly in facing stiff competition caused by the influx of workers and traders coming into the state over the years.

He also stressed on the importance of mobility among the people as one important fundamentals of SCORE, which primary underlying objective was to mobilise people towards a certain area to create income, wealth and business.

Mohd Hassan also called on young Sarawakians to have a vision on what they want to be in 20 years’ time and to be hardworking, committed and dedicated in their pursuits to realise their vision because there is no short cut to achieving one’s ambition. “It needs hard work, sincerity, willingness and direction to succeed,” said Mohd Hassan.

He also called on Sarawakians to emulate the positive values, positive thinking and right mind shown by the people of Qatar in facing stiff competitions from foreigners in the job and business market successfully, despite being smaller in numbers when compared to the immigrants in their wealthy homeland.

Mohd Hassan also pointed at the success enjoyed by the people of Terengganu brought about by Kertih Industrial Development project which he (Mohd Hassan) spearheaded while in Petronas.

Billed as one of the most successful corporate figures in Malaysia, Mohd Hassan took the opportunity to advise graduates and skilled workers to be ready to go into the private sector based on the fact that job prospects are bigger when compared to the government sector.

Moreover, private sector offers unlimited opportunity to excel further, said Mohd Hassan.

How The Star reported Hassan Marican’s departure from Petronas:

Big exits from corporate Malaysia

Saturday January 1, 2011

The revolving doors of corporate Malaysia, particularly those involving bigwigs or personalities from huge corporations, tend to attract much scrutiny.

This is more so, when their exits take place under allegedly suspicious circumstances.

Then there are exits of those who have held the top spot in a single corporation for a relatively long time which could denote that it’s time for fresh blood.

Others have taken place as a result of boardroom and shareholder tussles. In addition to that, when a country sees a leadership change, it usually follows a change in the helm of some national corporations.

Corporate Malaysia saw a fair share of CEO churn unfold in the course of 2010. In this article, we highlight a few memorable exits from the corporate stage involving prominent individuals.


former boss of Petronas

Tan Sri Hassan Marican’s departure from the top spot of Petroliam Nasional Bhd fits the label as one of corporate Malaysia’s longest speculated exit.

That’s largely because he is perceived by many as a close confidante and trusted lieutenant of former Prime Minister Tun Dr Mahathir Mohamad.

So, when Tun Abdullah Badawi took over the country’s leadership from Mahathir back in 2003, tongues started wagging on a possible change in the leadership of national oil company and the country’s sole representative in the reputable Fortune 500 company list.

That eventually happened but long after, in February 2010 to be exact when his contract was up. His exit from Petronas, a company he has served for 21 years, happened under a new administration led by Prime Minister Datuk Seri Najib Tun Razak, who succeeded Badawi.

Hassan began his service in Petronas in 1989 as senior vice-president of finance and served as its president and chief executive officer for 15 years.

Between 2004 and 2010, the low key and astute professional was also the national oil company’s acting chairman.

Trained as a chartered accountant, Hassan together with the late Tan Sri Azizan Zainul Abidin Hassan, drove the internationalisation of Petronas and the group’s expansion into the downstream petrochemical businesses.

Hassan steered Petronas’ expansion abroad, where it competed with some of the world’s largest oil majors. Under his stewardship, the oil company had also landed with mega lucrative jobs abroad, including Iraq.

When it was time to leave, Hassan was offered the post of special adviser to the Prime Minister on gas but he had turned it down.

There has been rife speculation on the reasons for his departure but none of it has been publicly acknowledged.

Hassan is today employed by Singapore-listed SembCorp Industries Ltdas its non-executive director.

SembCorp Industries, controlled by Temasek Holdings, is involved in energy and water business and is also active in marine and offshore engineering.

(Rest of story omitted)

How Channel News Asia reported Hassan Marican getting a new job:

Sembcorp appoints Mohd Hassan Marican as independent director

Posted: 15 June 2010

SINGAPORE: Conglomerate Sembcorp Industries on Tuesday said it has appointed a new independent director to its board.

He is Mohd Hassan Marican, the former president and CEO of the Malaysian oil giant Petronas.

Mr Mohd Hassan led Petronas from 1995 until his retirement in February this year.

He takes up his new appointment with Sembcorp from Wednesday.

Sembcorp said Mr Mohd Hassan brings over 30 years of experience in audit, accounting and management.

He currently serves as a Director of International Centre for Leadership in Finance.

He holds a Honorary Doctorate from the University of Malaya and is a Fellow member of the Institute of Chartered Accountants in England and Wales. – CNA/ms

How The Star reported Hassan Marican leaving Petronas:

Hassan leaves a rich legacy

Friday February 5, 2010

Petronas’ success during his tenure speaks for itself

KUALA LUMPUR: The mood was sombre at Tower 1 of the Petronas Twin Towers after staff of the national oil company learnt that their long-time president and CEO was replaced.

“It’s very depressing,’’ said an employee on the news that the final day of Tan Sri Mohd Hassan Merican’s tenure at Petroliam Nasional Bhd (Petronas) would officially be next Tuesday.

Hassan, who will be replaced by former MISC Bhd president and CEO Datuk Shamsul Azhar Abbas, began his service in Petronas in 1989 as senior vice-president finance.

He was promoted to the position of president and CEO in 1995 and took the post of acting chairman from 2004 after the passing of the late Tan Sri Azizan Zainal Abidin.

A chartered account by qualification, Hassan presided over Petronas during the “golden age” of the company.

It was during his tenure that Petronas cemented its position as a top Fortune 500 company, thanks to soaring crude oil prices and also the expansion of the companies businesses both locally and overseas.

One legacy Hassan leaves behind would be the success Petronas has attained. There are other numerous national oil companies in countries that have larger oil reserves than Malaysia but it was the way Petronas was run and built that separated itself from its kin.

Over the past five years alone, Petronas, which started off as a company with a paid-up capital of RM10mil, has seen revenue grow from RM137bil in 2005 to RM264.2bil during its 2009 financial year.

Net profit during that time grew from RM35.6bil in 2005 to RM52.5bil in 2009, with the peak of RM61bil earned during its 2008 financial year.

“The figures (of the company’s profits) speak for themselves as to the job he has done,” said one company employee.

During that time, much of the profit growth was not due to just the crude oil business. Petronas’ previous commitment to the manufacturing sector saw manufacturing revenue from its predominantly petrochemical business surge from RM78.2bil in 2005 to RM142bil in 2009.

Without that effort invested in manufacturing, Petronas’ revenue for 2009 would be 33% lower.

The professionalism and aptitude displayed by the company during those years also meant that a number of financial ratios such as return on revenue, return on total assets and return on average capital employed had put Petronas at the upper range of what its peers were accomplishing.

“Hassan is well known among the oil companies and they are impressed by the way he does things and has taken Petronas forward,” said a source.

In fact, the uncertain nature of his job did not mean he was shirking his responsibilities. Just a weeks ago, Petronas clinched the lucrative service contracts from the Iraqi government where it and consortium members had won four of the five bids to develop oil fields in Iraq.

The expansion into oilfields in Iraq will be the single largest mobilisation exercise undertaken by Petronas, which will not see the majority of its reserves reside outside of Malaysia.

Not wanting to let such know-how go to waste, Prime Minister Datuk Seri Najib Tun Razak in a statement on Wednesday said he wanted to tap on Hassan’s experience and knowledge in the field of energy.

Sources indicated that Hassan was offered the post of special adviser to the Prime Minister on gas but unclear if he would accept that offer.

For the job Hassan has done at Petronas, he would also be remembered for his stoic demeanour.

“He is a straight talking guy. A no-nonsense character,” said one Petronas insider.