Malaysia to grant 20% royalty to its oil-producing states
KUALA LUMPUR: 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
Read more at https://www.thestar.com.my/business/business-news/2018/07/19/malaysia-to-grant-20pc-royalty-to-its-oil-producing-states/#cvxJOstoYY3gwI4C.99