“We expect RM32 billion to be paid this year. The commitment will remain at that amount, God willing,” he told reporters at the launch of the 2024 Property Market Report at the National Institute of Valuation.

When asked about expectations for 2025’s dividends, Amir said the payout would depend on Petronas’s financial performance and the outlook of the oil market.

He was responding to queries about whether the national oil company’s dividend payments might be reduced after it reported a 32% drop in net profit to RM55.1 billion for the financial year ended Dec 31, 2024 (FY2024).

Petronas also saw its profit after tax decline from RM80.7 billion in the previous financial year to RM55.1 billion in FY2024.

The company attributed the weaker performance to lower average realised prices of petroleum products and crude oil, as well as the divestment of its interests in South Africa’s energy group Engen Group Ltd in May 2024, which had a negative impact on revenue.

Despite higher sales volumes, the company saw a 7% drop in revenue from RM343.6 billion in FY2023 to RM320 billion in FY2024.

Last year, executive vice-president and group chief financial officer Liza Mustapha said Petronas would pay a total of RM32 billion in dividends to the government in 2024.

Amir also expressed optimism about the property market and overall economic development this year.

“One thing to be proud of is that we saw growth in the property market last year, and various sectors have shown encouraging performance. This means that the national economy is growing well,” he said.

The 2024 Property Market Report recorded a total of 420,525 transactions in 2024, reflecting a 5.4% increase from 2023 – its best performance in a decade.

Amir said the total transaction value also rose by 18% to RM232.3 billion during the same period.