Malaysia considering selling stakes in Petronas to territories: Mahathir

Malaysia is thinking about selling stakes in vitality goliath Petronas to regions where the organization’s oil and gas fields are, Prime Minister Mahathir Mohamad told Reuters on Tuesday, in an offer to raise assets for the obligation loaded government.

“It’s completely claimed by the administration, it’s dependent upon the legislature to sell the offers secretly not in the market, to states like Sabah and Sarawak,” Mahathir said in a meeting in his office.

“Petronas is a major organization, it relies upon how a lot (the states) can pay too.”

Sarawak and neighboring Sabah have Malaysia’s most productive oil and gas holds in their waters in the South China Sea. Their longstanding interest to build eminences could cost Petronas up to $7 billion every year.

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