February 18, 2020
Dateline 2019-12-17, The Chemical Engineer:
STAKES in state-energy firm Petronas could be sold to Malaysia’s oil-producing states to raise money for the Government, Prime Minister Mahathir bin Mohamad has told Reuters.
“What we need is to reduce our involvement, the number of shares that we hold, in order to raise some funds for ourselves,” he said. National debt is more RM1trn (US$240bn) according to figures released by the country’s finance ministry in September; while Petronas is estimated to have contributed around 20% of Government revenue in 2019.
February 7, 2020
Dateline 2019-12-13, Malaysia Chronicle:
Anger is building up again in the East Malaysian states with Dr Mahathir Mohamad’s statement this week on the oil royalties.
Somehow we get the feeling that we have been led up the garden path by the Pakatan Harapan (PH) government.
Mahathir is now changing his stance and seems to have run out of ideas on how to deal with this sticky issue. His incoherent response to the oil royalties issue is sowing more confusion, creating a wider rift between the federal and state governments.
Mahathir in a Reuters interview said the government is considering selling stakes in Petronas to states where the company’s oil and gas fields are located. It seems odd that the oil-producing states like Sabah and Sarawak are now offered stakes in Petronas to help a debt ridden federal government.
February 6, 2020
Didn’t 1MDB start out in Terengganu? Just saying.
Dateline 2019-12-11, Reuters:
Malaysia’s Terengganu state said on Wednesday it was open to buying a stake in national energy giant Petronas, after Prime Minister Mahathir Mohamad said he was considering such a sale to raise funds for his heavily-indebted federal government.
Petronas, the world’s third-largest exporter of liquefied natural gas, is one of the biggest sources of revenue for the federal government that has a debt pile of more than 1 trillion ringgit ($239 billion).
February 4, 2020
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.
December 18, 2019
Hahahaahahahahaha. Reaaaaalllly, 1MDB nation?
Dateline 2019-10-11, Malay Mail:
Tun Dr Mahathir Mohamad has commended the new Targeted Subsidy Programme (PSP) for petrol as it will ensure that only the correct group will receive the benefit.
Addressing a press conference after the tabling of Budget 2020 in Parliament today, the prime minister said that the RM30 fixed amount which will be deposited into the accounts of eligible car owners will ensure that the rich will not benefit from the subsidy.
“The subsidy’s fixed amount of RM30 is deposited into the accounts of car owners.
July 5, 2018
Dateline 2018-05-30, The Edge:
The government will retain the current price of RON95 and diesel at the pumps, but the price of the premium RON97 petrol will be subject to a float system, Prime Minister Tun Dr Mahathir Mohamad said today.
“The price for diesel and RON95 will be maintained, but the price for RON97 will be floated according to the market,” Dr Mahathir told reporters after chairing the second weekly Cabinet meeting here today.
At present, RON95 and diesel are sold at RM2.20 per litre and RM2.18 per litre respectively, while that of RON97 is priced at RM2.47 per litre. The retail fuel prices have remained unchanged ahead of the 14th general election on May 9, despite crude oil prices rising to US$75.39 per barrel at the time of writing.
November 29, 2016
Dateline 2016-10-15, FMT:
In an effort to win the support of the Kelantanese, former premier Dr Mahathir Mohamad has vowed to pay oil royalties to the state government should the Barisan Nasional Federal Government be defeated.
Speaking to a 5,000-strong crowd at a ceramah here last night, Dr Mahathir gave his guarantee that Kelantan would enjoy the oil royalties which the state government had been demanding.
“If we win, then we can give the royalties,” he said to cheers from the crowd.