Petronas Lose Billions Taxpayer Money; The MySabah Controversy

2061

ANALYSTS RECKON THE DOOMED PACIFIC NORTH WEST LNG PROJECT WOULD COST BILLIONS OF TAXPAYER MONEY, WHICH COULD HAVE BEEN BETTER USED IN SABAH

COMMENT: This is something we don’t get to hear much in the mainstream media. It is about how Petronas lost billions in their investment overseas, this one in Canada.

Petronas was reported not to proceed with the Pacific North West LNG project at Port Edward in British Columbia, Canada.

Petronas is the biggest shareholder in the project with companies from China, Japan, India and Brunei in the consortium.

Many analysts don’t understand why it took Petronas so long to come to this decision. While it is expected for them to invest anywhere around the globe that can bring good returns, they should have cut their losses earlier knowing full well the current low gas prices and constraints facing Petronas which has been cutting costs to deal with lower profits and cash flow.

Can we expect a statement from the Prime Minister’s Office explaining this? That will be the day as Petronas accounts are never made public and the oil giant is directly responsible to the Prime Minister. We normally have to rely on overseas reports to know exactly what’s happening.

And of course nobody will be accountable for the debacle. If there is any element of corruption of misappropriation, we can only hope MACC will investigate immediately.

An artist’s rendering of the proposed Pacific NorthWest LNG plant near Prince Rupert, B.C., Canada.

While Sabahans are crying for more oil royalty which has fallen on deaf ears, here, we have people who simply squandered away our depleting resource through poor business decision.

And how much is the damage? While correct figures are not available, some analysts reckon it would be in the billions of taxpayer money!

Now what Sabah can do with that kind of money to bring more development to the state and turning it into a more prosperous state instead of being the poorest in the country and to think the bulk of the oil is found here!

And to say people are peeved is an understatement. People are upset big time.

Silence is not golden anymore when it comes to our own resource that should be spent here to uplift the standards of living of the people instead of throwing it away just like that in a big hole overseas somewhere.

Petronas must explain all this wastage to the people, as the oil belongs to them.

We should not be happy with “ah that’s business, you win some, you lose some”. The amount is colossal and needs to be explained.

WHY IS MYSABAH MORE VOCAL IN THE FIGHT FOR STATE’S RIGHTS AND ARE THEY ARE ACTUALLY SPEAKING ON BEHALF OF THE STATE GOVERNMENT

It is good to know that Sabah has not been sitting idle in reclaiming its rights as listed in the Malaysia Agreement (MA 63).

Lawyer Ansari Abdullah in a statement said MySabah group, a social media forum compromising individuals from across the political spectrum and disciplines to discuss Sabah’s rights had sent its representative to meet up with legal experts in London on the matter.

Anifah Aman and Nancy Shukri co-chairs a meeting on ‘Devolution of Authority’ for Sabah and Sarawak.

Earlier, opposition Parti Warisan Youth leader, Azis Jamman had accused Foreign Minister Anifah Aman of using MySabah forum to give false hopes to Sabahans.

Compared to Sarawak which made the decision to send a team of lawyers to London, it appeared that Sabah under Musa Aman had been complacent in fighting for Sabah State’s rights.

To a lay person, there is much confusion over this matter. This is government to government business, where does Ansari’s MySabah come in here?

There is a special committee set up by the State government to look into the State’s rights too; why is MySabah more vocal and are they are actually speaking on behalf of the state government or what? Has a motion been passed at the DUN to give them that mandate?

ANSARI ABDULLAH

Prime Minister Najib Razak is said to be the most receptive Prime Minister about our rights; it is obvious because he needs “fixed deposit” states to win Putrajaya in the coming elections.

So far it is talk only, no action. It looks like it is not going anywhere.

Even the 40% tax collection that’s due to Sabah as found in the Federal Constitution remains blank. Little progress here.

It was good of Ansari to remind us that the legal experts in London had opined that there has to be a mandatory review of the agreement every ten years.

Of course we know; the review was supposed to have been in 1973. Like everything else it never happened.

Also didn’t Chief Minister Musa Aman personally tell the Member from Bingkor, Jeffrey Kitingan in one of the DUN sittings.”Apa mau review review?” when Jeffrey mentioned the magic word “review” vis-a-vis MA63.

It would be interesting to know how Ansari and his MySabah group propose to bring this mandatory review to take place, when Musa himself didn’t fancy it? And Putrajaya and their hubris?

Let us cut to the chase, too many words, hours and even money have been wasted unnecessarily, when the whole MA63 issue is all about compliance to what was agreed over 50 years ago, no more and no less.

With all the talks, meetings and what not and people getting in a huff unnecessarily, it looks like another process of de-colonisation is taking place, doesn’t it?