Coming to the Petronas profit figures , the media is lapping them up as the best performance ever and even as the best in the world as far as oil companies are concerned. This is based on the premise that Petronas returned a rate of 38.4 percent based on revenue (RM97.5 billion) as compared to the best in the sector - Exxon Mobil at only 14.7 percent.

Can this be true, I ask. Maybe yes, maybe not, as Petronas does not disclose full details like other companies do. Or even like other government-controlled companies do. Could it be some exchange rate gains realised?

On the issue of how its profit before tax rose 40 percent while its profit after tax rose 57 percent, this is clearly some deferred tax or over-provision of tax from previous years that is being reversed now.

At the end of the day, one will never know the true figure and actual figures of Petronas' balance sheets as they are never revealed. It would be probably easier getting the Air Pollutant Index readings for the current haze.

A higher revenue for Petronas does nothing for the national deficit as it is cash surplus that matters and we don't know how much Petronas has because it was not announced.

Petronas may have higher revenue but it may have very well ended up with less cash as it could have spent it on various projects which did not affect revenue or costs in the short term.