Handal Energy top management takes 25% pay cut

Handal Energy said it aimed to cut 40% of its operating costs, in which staff costs represent the largest cost component.

KUALA LUMPUR: Handal Energy Bhd’s top management will take a 25% salary cut as part of the company’s cost optimisation programme amidst the ongoing COVID-19 pandemic and crude oil price volatility arising from the Saudi Arabia-Russia oil price war.

In a statement today, the oil and gas (O&G) company said it aimed to cut 40% of its operating costs, in which staff costs represent the largest cost component.