Petronas' RM7.3b quarterly loss deepens Malaysia's fiscal risk

Kuala Lumpur

THE odds are rising that Malaysia will need a second revision to its Budget, now that national oil company Petronas has posted an unexpected RM7.3 billion loss in the last quarter.

The Bank of America Merrill Lynch (BoAML) said the quarterly loss adds to the fiscal risks that have beset the country, and that Petronas' dividend payouts are expected to be lower. It is, however, keeping to its deficit forecast of 3.8 per cent of the gross domestic product (GDP), against Malaysia's revised projection of 3.2 per cent.