KUALA LUMPUR (June 5): Petron Malaysia Refining & Marketing Bhd has clarified that Mirzan Mahathir is not a shareholder in the downstream oil and gas firm and that he does not have any management role in the company.

In a statement to Bursa Malaysia today, Petron Malaysia said the clarification was in response to the latter's minority shareholders' query on Mirzan’s role in the company, and its owners Philippines-based Petron Corp and San Miguel Corp.

"Encik Mirzan Mahathir does not own any shares in Petron Malaysia and does not have any role whatsoever in Petron Malaysia," Petron Malaysia said.

According to Petron Malaysia, Mirzan who was elected as director in San Miguel on September 1, 2009 had resigned from the board on April 15, 2010.

Mirzan who still owns 5,000 shares or 0.15% in San Miguel did not have any management role in the firm when he was a director there, Petron Malaysia said.

He was subsequently elected as director of Petron Corp on August 13, 2010. Mirzan owns 1,000 shares or 0.01% in the firm.

"Under the by-laws of Petron Corp, a person has to be a shareholder of Petron Corp to be a director. In this regard, Encik Mirzan Mahathir acquired 1,000 shares.

"To date, Encik (Mirzan) Mahathir continues to hold 1,000 shares of Petron Corp. Apart from the 1,000 shares in Petron Corp, Encik (Mirzan) Mahathir does not have any role in relation to the management or operations of Petron Corp," Petron Malaysia said.