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Sovereign Wealth Funds Briefing - Categorized | Financials

Oil royalty fight puts BN in a fix over Terengganu payments

Posted on 22 February 2010

From Themalaysianinsider.com: The Barisan Nasional federal government yesterday argued why states in the Malay peninsula are not entitled to oil royalty, but was silent about its decision to resume paying the 5 per cent cash payment direct to oil-rich Terengganu.

The Information, Communication and Culture Ministry took out full page advertisements in Malay weeklies listing eight questions and answers to rebut Tengku Razaleigh Hamzah’s argument that Kelantan and all other states are entitled to the 5 per cent oil royalty under the Petroleum Development Act 1974…………………..Full Article: Source


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