Petronas approves another RM10b government payout to battle Covid-19

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Petroliam Nasional Bhd (Petronas) said late on Tuesday it had approved an additional RM10 billion dividend to the government to help fight the Covid-19 pandemic.Earlier this week, the country's economic minister had said Petronas would pay the government, its sole shareholder, RM34 billion in dividends this year.The firm, which suffered its first loss in nearly five years during the second quarter, had initially pledged to pay RM24 billion and said any additional funding would depend on its affordability.Petronas said it had approved the additional dividend, to be remitted by November-end, in response to "the unprecedented challenges brought about by the Covid-19 pandemic," adding that it had fully paid the amount originally committed."In determining whether this additional dividend was affordable, the Petronas board first satisfied itself that the company c…