Pengerang investment must deliver results, not mere assurances – industry expert
THE multibillion-ringgit investment in Pengerang must now translate into measurable operational and financial improvements, particularly as PRefChem continues to face losses, said industry expert Datuk Seri R. Jeyenderan. Commenting on a recent repor...
Industry expert Datuk Seri R. Jeyenderan asserts that the $5 billion investment in Pengerang must yield tangible results, not just assurances. He argues that the performance of the Pengerang Integrated Complex (PIC) should be evaluated based on clear, transparent indicators such as higher plant utilization, fewer shutdowns, narrowing losses, and positive cash flow, rather than mere promises.
Jeyenderan, with over 30 years of experience in the shipping industry, recommends establishing a year-by-year performance scorecard to track improvements and gauge the project's progress towards its economic goals. This scorecard would allow the public and stakeholders to assess whether the substantial investment is delivering the anticipated economic benefits.
Jeyenderan emphasizes the importance of transparent governance, including regular independent audits and clear accountability among relevant agencies, to protect government revenue and maintain confidence in Pengerang as a strategic petroleum hub.
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