2 Key Reforms Proposed for Malaysia Oil & Gas by the New Prime Minister

[Tom Kirkman + 8,860]

I very much agree with these 2 key proposed reforms for Malaysia's oil & gas industry. 

(I'm a U.S. expat and also a Permanent Resident of Malaysia.)

I had mentioned a bit of this last week:

 

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FACTBOX - Malaysia's new government promises reforms

"Ministers in Malaysia’s new government began their first day at work on Tuesday, having promised a slew of economic and financial reforms in the lead up to a stunning election win over an alliance that had led the country for the six decades since independence.

Prime Minister Mahathir Mohamad’s government has vowed to fulfill some of those promises in its first 100 days.

Here are the key points from the manifesto:
...

-  Revamp the National Trust Fund Act — a fixed percentage of state oil and gas firm Petronas’ profits, at a minimum of 10 billion ringgit a year, and profits of other government linked companies to be channeled into the fund.

-  Increase petroleum royalties to East Malaysian states Sabah and Sarawak, and other petroleum producing states, to 20 percent.  Examine the rights of Sabah and Sarawak over their national resources and oil and gas reserves."