21.02.2014 - Malaysia: Oil wealth must be controlled by Parliament

An opposition MP has proposed setting up a sovereign wealth fund to prevent the government in power from abusing Malaysia's oil riches as a personal piggy bank. Compared to oil-rich Norway which today has the richest sovereign wealth fund in the world at RM2.7 trillion, PKR MP Nurul Izzah Anwar lamented the fact that Malaysia's equivalent oil fund, the Petronas-backed Kumpulan Wang Amanah Negara (Kwan), only has RM5.43 billion...............................................Full Article: Source

Print