Malaysia to grant 20% royalty to its oil-producing states

October 2, 2018

Yes, keep an eye on the Queen in this game of numbers.

Dateline 2018-07-19, The Star:

All states that produce oil will receive 20% of profit from the resource, Prime Minister Tun Dr Mahathir Mohamad speaks in parliament.

* Note: Campaign manifesto includes pledge to give 20% royalty to oil-producing Sabah and Sarawak states

* Government’s priority is on cleaning out damage from corruption and efforts to recover missing funds

* Government is committed to carrying out 60 promises and 40 commitments in its campaign manifesto

* Government may not be able to meet its 10 promises for the first 100 days in time – Bloomberg

Kelantan thanks federal govt for oil royalties

September 11, 2018

Short and to the point.

Dateline 2018-06-25, The Malaysian Insight:

THE Kelantan government is grateful to the federal government for agreeing to give it oil royalties, as stated by Prime Minister Dr Mahathir Mohamad during a recent National Finance Council meeting.

Menteri Besar Ahmad Yakob said in a statement today that he had called on Dr Mahathir at the premier’s office at Perdana Putra, Putrajaya.

Uncertain days for Malaysia’s oil industry

July 2, 2018

Dateline 2018-05-18, Petroleum Economist:

Malaysia’s new prime minister, Mahathir Mohamad, has moved quickly to make good on an election campaign pledge to scrap a goods-and-services tax (GST) blamed for rising living costs. Speculation is now mounting over whether state-controlled oil and gas giant Petronas could be tapped to fill any resulting hole in the country’s finances.


Dr M: I told Petronas to enrich my son

November 22, 2012

The title is link bait supreme. Dr. M still manages to maintain his aura while fielding hard questions.

Dateline 2012-11-07:

(Tun) Dr Mahathir Mohamad today mocked a Malaysiakini reporter for questioning him on lucrative multimillion ringgit petroleum contracts involving Petronas and SapuraKencana Petroleum Bhd, of which his son Mokhzani is vice-president.

The visibly annoyed former prime minister, who is adviser to the national oil company, said he had used his influence with Petronas to ensure that SapuraKencana win the business.

“Yes, of course, he is given it because I instructed Petronas,” he told the reporter. “You can put that in your paper.


Dr M supports Petronas-backed mega Islamic bank

July 20, 2012

Ah… any comment I make is going to upset the left, right, conservatives, radicals and Jabba simultaneously. Who says I can’t create a lose-lose situation?

Dateline 2012-06-24:

Tun Dr Mahathir Mohamad has voiced his support for a proposal to set up a mega Islamic bank with Petronas and pension funds being used to underwrite some of the US$1 billion (RM3.2 billion) in start-up capital.

The influential former prime minister insisted last night there would be nothing wrong should the government decide to go ahead with Bank Negara Malaysia’s (BNM) proposal to use an injection from the cash-rich state oil firm as “Petronas money is government money.”