Case Study Of Petronas

What is economic growth? Economic growth defined as the rise in the inflation of the market value of goods and services produced by an economy. It measured as the percent rate of increase in the real growth domestic product, GDP. Economic growth literally refers to an economy that getting bigger and bigger. Local companies that we chose are Petroliam National Berhad (PETRONAS). PETRONAS is a Malaysia’s National Petroleum Corporation which wholly owned by Malaysian government. Since petroleum is one of the main mineral resources of major significance in the Malaysian economy, PETRONAS develops its role as a dominant player in the industry of oil and gas and it also helped Malaysian government finance a series of mega project which contribute many to country income as long as Malaysia growth domestic product. In the era of late 1970s or early 1980s, as the PETRONAS was established, the petroleum and the petroleum product had more significant place in Malaysia’s economy and exports. PETRONAS is an important contributor to national revenue through the taxation system. PETRONAS company revenue keep increasing for the since the year since PETRONAS is established. Based figure below that obtain from PETRONAS 2009-2013 annual report, it shows that the revenue of company keep increasing, it means that the tax expenses paid to government is also increasing year by year.
Base on the graph above, at the year of 2009 revenue that earned by PETRONAS is RM264175 million and continue by