Dateline 2019-12-11, Straits Times:
Malaysia is considering selling stakes in energy giant Petronas to two of its 13 states where the company’s oil and gas fields are, Prime Minister Mahathir Mohamad told Reuters, in a bid to raise funds for the debt-laden government.
Such a move may also give states such as Sarawak and Sabah a say in the running of Petronas, the world’s third-largest exporter of liquefied natural gas.
Tun Dr Mahathir said on Tuesday in an interview that the government could not meet a demand made by the states for a quadrupling of the royalties paid by the government-owned company to 20 per cent of its profit.
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Wata - Malaysian Oil and Gas Engineer 