By Ying Xian Wong
Petroliam Nasional said an investigation into the company involving a project worth 399 million ringgit ($86.7 million) has “not found any wrongdoing” by the firm.
The Malaysian Anti-Corruption Commission said Friday it is investigating allegations involving Petronas and an international oil-and-gas company in the state of Sarawak. The commission didn’t identify the project or the international company.
The commission also said it discovered various weaknesses in practices, systems and working procedures and proposed preventive measures.
The Malaysian state-owned oil company said in a statement on Saturday that it had cooperated in the investigation, which it said was in relation to its award of contract to a Malaysian subsidiary of an international upstream company in 2021–and that no wrongdoing was found on the part of Petronas employees or directors.
Petronas said it will continue to improve and enhance its procedures to avoid and combat all forms of corruption and misbehavior.
Write to Ying Xian Wong at yingxian.wong@wsj.com
Read the full article here
