Sarawak State Sues Petronas

26-Nov-19 07:15

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Petronas has confirmed the Sarawak state’s government lawsuit against the national oil and gas company, for the non-payment of the 5% sales tax on petroleum products. The legal action comes amidst rising demands from Sabah and Sarawak for the federal government to honour its electoral pledge to increase oil royalties by Petronas. We explore the legality of the issues although there appears to be no easy or obvious conclusion.

04:55 - Khazanah has divested its stake in Alibaba but reinvested the proceeds in India and China's listed companies.

Presented by: Lyn Mak, Wong Shou Ning, Julian Ng

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Categories: Investments

Tags: Petronas, Sarawak, oil and gas, royalties, Petroleum Development Act 1974, Oil Mining Ordinance Act 1958, Khazanah, investment, China, India, Alibaba,

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