Petronas signs with Mercedes GP instead of Lotus

[Guna]

so true. can the real PM please stand up ?

Fat Shaddy won't stand up la dude....he's part of it:3:

 

[okow]

Some guys just cant be pleased....Imagine this scenario ...The Star headlined: (Malaysian) Lotus F1 announces that they are thrilled to have secured Petronas as their title sponsor. A deal worth Rm 1Billion per season.

Im sure we'll see another thread here with the heading : Petronas should have backed Schumey's Mercedes F1 or Petronas arm twisted into sponsoring Malaysian Team...or such a blardy waste of taxpayers money....

 

[affan66]

this was started by a private party and got govt involved. Later, private party will leave and let govt handle this. Let's see in a few years' time.

 

[LHT]

Im sure we'll see another thread here with the heading : Petronas should have backed Schumey's Mercedes F1 or Petronas arm twisted into sponsoring Malaysian Team...or such a blardy waste of taxpayers money....

You're right that the above would be the case. It was the case the moment the idea of a 1MF1 team was mooted in the first place. But it's sad, because petronas's oil is mostly from within malaysian borders, and it seems that the right thing to do would have been to sponsor the local team.

How about this ? Petronas could have spent less money on 1MF1 than Merc. I think we know merc would have called for much more than the local team. And then spend the difference on budget promoting petronas in the media and business luncheons etc, anything to close the deal with not just merc but the other big boys.

 

[ALBundy]

You're right that the above would be the case. It was the case the moment the idea of a 1MF1 team was mooted in the first place. But it's sad, because petronas's oil is mostly from within malaysian borders, and it seems that the right thing to do would have been to sponsor the local team.

Actually if read Petronas' yearly report, a large part of its revenue is from foreign joint ventures like in Sudan and etc. If I remember correctly, it's more than 50%!!

Petronas' involvement in F1 has given them a lot of credibility internationally and more so when they are competing with the big boys for new oil fields.

And as I mentioned earlier, Petronas would want to sponsor a manufacturer so that they can have benefit with their downstream business as well. It's a win win situation for Petronas.

Latest news,

http://www.themalaysianinsider.com/...o-sponsor-mercedes-gp-was-a-business-decision

 

[Guna]

Apart from Shell and Petronas,can you guys think of any other 'swimming in money' petro companies involved in F1?

I'm still waiting to see the word PETRONAS screaming across all Merc showrooms(NZ,take note) and the word MERCEDES all over our Petronas stations and I'm now dreaming of a wonderful thing like seeing the 1Malaysian F1 team whopping the ass of Mercedes in this coming season.And I surely hope to live long enough to see Petronas putting their foot and d**k in their mouth.

Ah,sweet dreams.....but for now i gotta hide in embarrassment from my foreign buddies.

 

[Guna]

Actually if read Petronas' yearly report, a large part of its revenue is from foreign joint ventures like in Sudan and etc. If I remember correctly, it's more than 50%!!

Petronas' involvement in F1 has given them a lot of credibility internationally and more so when they are competing with the big boys for new oil fields.

And as I mentioned earlier, Petronas would want to sponsor a manufacturer so that they can have benefit with their downstream business as well. It's a win win situation for Petronas.

Latest news,

http://www.themalaysianinsider.com/...o-sponsor-mercedes-gp-was-a-business-decision

It probably makes sense but still I was hoping that Petronas would reap from the outside and give a little to their 'Tanah air'...I'm still working on getting rid of the word 'Patriotism' off my mind..

 

[LHT]

Actually if read Petronas' yearly report, a large part of its revenue is from foreign joint ventures like in Sudan and etc. If I remember correctly, it's more than 50%!!

true. i checked. thanks for the update. maybe i'm sentimental, but i was brought up to remember and cherish the hand that fed you. aw well, that's just me. petronas, suck a%%. uke:

 

[jarance]

this was started by a private party and got govt involved. Later, private party will leave and let govt handle this. Let's see in a few years' time.

It could be a couple of years lah.:listen:

 

[minivan]

Petronas is just going up the ranks in F1... Sauber --> BMW --> Mercedes+Schumi... why step back with Lotus?
What has patriotism have to do with this? Its about ROI, the more ROI, the more the Malaysian G gets and ultimately the Malaysian poeple. Well thats the goal anyway and how the G manages and spends all the mollah they get is a different story all together lah...

So, why be ashamed then? We Malaysians have 2 teams to cheer on and support next season instead of just one! Mercedes GP Petronas and Lotus 1Malaysia! Isn't that something to be proud of?

 

[zeedo]

true. i checked. thanks for the update. maybe i'm sentimental, but i was brought up to remember and cherish the hand that fed you. aw well, that's just me. petronas, suck a%%. uke:

44% from the country's annual budget comes from Petronas so it has done its share of social responsibility, to sponsor a team just because it is 1Malaysia team should only be based on business feasibility. This deal with Merc GP will further enhance the lubricants market for Petronas which currently already owns Selenia....

Other oil majors like Exxon and Shell use up to 60-70% of their revenue for reinvestment while Petronas only has 19% because the rest is returned back to Government in the forms of royalty and tax.

If emotional sentiment is used as the basis of running a national O&G company, it will end up like Pertamina...the company who first taught us how to handle the black gold back in the 70's

 

[loafer]

It probably makes sense but still I was hoping that Petronas would reap from the outside and give a little to their 'Tanah air'...I'm still working on getting rid of the word 'Patriotism' off my mind..

Actually Petronas is giving a lot to their "Tanah Air". Whether or not the amount given is put to good use for the "Tanah Air" by those in power is another story.