Roadshow to PFK, Gurun, Kedah

Visit to PFK, Gurun - 1 August 2006

This trip was my first involvement in the Treasury road show, not counting the meeting that I had attended with PICL Egypt (and missing the one with MISC, Zarif was sick that day). We had flew into Penang on 31 July 2006 and stayed overnight at Trader's Hotel smack in the middle of Georgetown.
The next day, a van had been arranged to take us from Penang to Gurun, which took about an hour and a half or so. Ali had been to Gurun before, so he was the van driver's guide to PFK whereabouts. PFK office is adjacent to Naza automotive center. Wow...so many Naza cars parked in the yard surrounding the Naza building.

Azhar Ahmad (Senior Manager, Finance, PFK) greeted us as we arrived. After a round of introductions, we were led into their office where we left our baggage. Rosdi, the guy who had been so long in EMSB is now there. So is Taran Jeet! The plant visit was supposed to take place at 11am, so we headed to their canteen and had drinks.

The plant visit was conducted by Toslan, Senior Manager, Plant Ops. I don't really know what to narrate on the plant visit, sufficient to say that PFK's end products are urea, ammonia and methanol. The plant visit was conducted with us in the bus anyway. We saw that most people ride the bike going in to the plant. Plant safety -- no handphones and cigarette lighters allowed in the plant.

I feel that the atmosphere at PFK (or maybe any OPU in general that is not located in KLCC) is one that is relaxed and away from the hustle and bustle of corporate life as I know it. Hardly the conclusion for a half-day visit, I know.

Lunch was provided at the canteen. Group Insurance, who had an earlier meeting with PFK, was at lunch with us, too.

Key take away from the meeting

1. Definition of terms used is a must (after gauging OPU's level of awareness and understanding of Treasury terms and operations. The attendees from PFK came from diverse backgrounds (not necessarily finance) and there were many questions on what the terms meant. In fact PFK had requested for training in Treasury Management in general.
2. Able to relate presentation slides to practical examples that OPUs can understand.
3. On identification of OPU FX exposure and its relationship with its marketing agent ie MITCO, to discuss with FX Management on how FRM can contribute to this initiative.
4. FRM to include a slide or two describing its services and capabilities.

The meeting ended at about 5pm and we adjourned to the canteen again for tea.

Cabs were waiting for us in front of the PFK building and alas! it was time for us to leave. After good-byes, we left Gurun for Alor Star.