Salcon catches investors’ attention

Posted on : 25-04-2015 | By : sabah today | In : News

25 April 2015

SALCON Bhd, whose share price has risen by some 17% over the last two weeks, is sitting pretty with a lot of cash in hand, a sizeable order book, valuable land bank and new growth opportunities from a broadband-type business.

The debate on Liew

Posted on : 25-04-2015 | By : sabah today | In : News

25 April 2015

Entrepreneur who drives the smaller Eco World group is still a much talked-about figure in corporate world

AT 57 years of age, Tan Sri Liew Kee Sin can easily count himself to be one of the most talked about personality in Malaysia’s corporate circle – by the Government, the private sector and property investors.

M’sia to be key beneficiary of rapid Asean growth

Posted on : 25-04-2015 | By : sabah today | In : News

April 25, 2015

Kuala Lumpur: Malaysia is expected to be a key beneficiary of the rapid growth of the Association of South-East Asian Region (Asean), with its exports to other member countries set to grow strongly, helped by Asean Economic Community’s trade and investment liberalisation.

PM: Malaysia on track to achieve growth target

Posted on : 24-04-2015 | By : sabah today | In : News

24th April, 2015

KUALA LUMPUR: Malaysia is on track to achieve its projected growth for this year as well as its other goal to attain high-income nation status by 2020, thanks to the stability of its institutions and diversification of its economic structure.

Halal Park to tap food and products in POIC

Posted on : 23-04-2015 | By : sabah today | In : News

April 23, 2015
LAHAD DATU: A halal park is being planned for the Lahad Datu Palm Oil Industrial Cluster (POIC Lahad Datu) to tap the potential in oil palm-based food and personal care products, as well as marine and fisheries-based manufactured products.
The park, to cover 100 acres of the POIC Lahad Datu, will create opportunities for small and medium enterprises and make the district a new economic growth centre in Sabah.
The plan was revealed by Datuk Dr Pang Teck Wai, the chief executive officer of state-owned POIC Sabah Sdn Bhd, during a briefing for a delegation from Malaysia Fishery Development Authority(LKIM) here recently.
The LKIM group was led by its chairman Datuk Irmohizam Hashim and accompanied by POIC chairman Datuk Datu Nasrun Mansur.
Pang in a statement here today said POIC Lahad Datu had been awarded the Halmas certificate by the Halal Development Corp of Malaysia, the only one in Sabah.
“The global halal market is worth US$2.4 trillion. Malaysia is already well known and trusted for it’s halal certification,” he said, adding, Lahad Datu has oil palm and rich fishery resources.
“Therefore, the halal potential must be developed to greater heights in industrialising the state,” he added.
Lahad Datu is located in a Muslim-majority region of the Brunei-Indonesia Malaysia-the Philippines- East ASEAN Growth Area(BIMP-EAGA), which has a market of more than 60 million people.
Seaweed and cultured prawns are also well developed in this region, covering Sabah, Sarawak, Kalimantan, Sulawesi, Irian Jaya and the Southern Philippines.
The Darvel Bay near Lahad Datu is renowned for its water quality and low level of pollution.
It has been identified as the national aquaculture hub under the 10th Malaysia Plan.
It’s huge potential has yet to be tapped, especially in the supply of marine products.
Aside from requesting funds for the halal park development under the 11th Malaysia Plan (from 2016), POIC Sabah is also proposing a bio-refinery cluster aimed at developing the bio-chemical potential of palm oil.
The cluster, which can leap-frog Sabah’s oil palm industry to higher value, will be anchored by a Malaysia-United States joint venture involving the Genting Group.
This RM1.7 billion investment will use a patented process to produce high-value oleo products.
According to Pang the POIC’s focus was industrialising Sabah and developing appropriate and comprehensive infrastructure to attract foreign direct investments (FDIs).
“This is the key to taking Sabah’s manufacturing to a higher position in the state economy.
“In order to shift Sabah’s manufacturing sector towards an industrial state, we need FDIs which provide the technology and capital,” he added.
POIC Lahad Datu to date boasts a set of port infrastructure unseen elsewhere in Sabah. It has in operation a barge landing terminal, a dry bulk terminal and a liquid terminal.
A Federal-funded RM450 million container terminal is due for commissioning in 2017. — Bernama
(Source: The Borneo Post)

April 23, 2015

LAHAD DATU: A halal park is being planned for the Lahad Datu Palm Oil Industrial Cluster (POIC Lahad Datu) to tap the potential in oil palm-based food and personal care products, as well as marine and fisheries-based manufactured products.

EPF withdrawal stays at 55, says Najib

Posted on : 23-04-2015 | By : sabah today | In : News

April 23, 2015
KUALA LUMPUR: EPF members will retain their right to withdraw their money at age 55,  said Datuk Seri Najib Tun Razak on Thursday.
The Prime Minister said he was aware of the concerns by the public about any future changes to the EPF.
“In just two days of the online consultation process that was recently set up, more than 50,000 Malaysians have taken part and given their views.
“It is already the largest ever public consultation carried out,” he said.
“He said the Government always listens to the views of the rakyat.
“And it is clear that the vast majority of EPF members, while understanding the importance of retirement savings at the age of 60, want the right to use their retirement fund at the age of 55.
“I want to assure the rakyat that EPF members will retain their right to withdraw at the age of 55,” he said in his keynote address at Invest Malaysia 2015 at Mandarin Oriental KL.
Najib said EPF would ensure that any new enhancement will only apply to new contributors if members decide to work beyond 55.
“This strikes a fair balance between the rakyat’s expectation to their hard-earned money at the age of 55, while protecting them if they retire at the age of 60,” he said.
Najib also announced that EPF has embarked on an initiative to offer Syariah compliant investment options for its members as of 2017.
“This will create the largest Syariah fund of its kind in the world, and will further strengthen Malaysia’s position as a leading Islamic financial centre,” he added.
(Source: The Star)
April 23, 2015
KUALA LUMPUR: EPF members will retain their right to withdraw their money at age 55,  said Datuk Seri Najib Tun Razak on Thursday.
The Prime Minister said he was aware of the concerns by the public about any future changes to the EPF.

RM2.29b to boost power supply in Sabah, Labuan

Posted on : 22-04-2015 | By : sabah today | In : News

April 22, 2015
Kuala Lumpur: The government has approved an allocation of RM2.295 billion for the next five years till 2020 to enhance electricity generation and transmission in an effort to overcome issues in electricity supply in Sabah and Federal Territory of Labuan.
Minister of Energy, Green Technology and Water (KeTTHA), Datuk Seri Panglima Dr Maximus Ongkili, said the government has also agreed to set up a special project team to regulate electricity supply projects in Sabah and Labuan.
He said this in response to Barisan Nasional Senator Datuk Chin Su Phin’s question on the short and long-term cooperation between KeTTHA and SESB to address the issue of electricity supply in Sabah, especially in urban areas which experience frequent blackouts, at the Dewan Negara sitting here.
He said SESB was established on Sept 1, 1998 during the privatisation of Sabah Electricity Board (SEB) whereby Tenaga Nasional Berhad (TNB) and the Sabah State Government held 80 per cent and 20 per cent equity respectively.
After privatisation, Maximus said the Federal government through KeTTHA has continued to cooperate and provide financial assistance to SESB in an effort to enhance the reliability and cost- effectiveness of electricity supply to Sabahan consumers.
“The Federal government via KeTTHA has distributed grants and soft loans to SESB for electricity generation, supply and distribution in Sabah and Labuan.”
Since 2009, Maximus said the Federal Government has allocated RM794.48 million in grants, including RM79.12 million this year, to SESB. The government has also provided RM 2,665.7 million in soft loans to SESB from 2009 to 2013.
To further strengthen the government’s cooperation with SESB, Maximus said the government has approved an allocation of RM 2.295 billion for electricity generation, transmission, distribution and operating systems to overcome issues in electricity supply in Sabah and Sarawak for year 2015 to 2020.
He said the government’s ongoing relationship with SESB was to ensure reliable, efficient and cost-effective electricity supply.
Besides SESB, he said the State government and stakeholders should also render their cooperation in this matter.
(Source: Daily Express)
April 22, 2015
Kuala Lumpur: The government has approved an allocation of RM2.295 billion for the next five years till 2020 to enhance electricity generation and transmission in an effort to overcome issues in electricity supply in Sabah and Federal Territory of Labuan.

Malaysia’s economy set to grow between 4.5-5.5pc: Najib

Posted on : 22-04-2015 | By : sabah today | In : News

April 22, 2015
Kuala Lumpur: Malaysia’s economy is set to grow between 4.5 per cent and 5.5 per cent this year, Prime Minister, Datuk Seri Najib Tun Razak said.
“The growth rate will make Malaysia one of the 20 fastest-growing economies in the world.
“Over the years with political stability and strong fundamentals, Malaysia’s economy has been on a steady and sustainable growth path,” he said on his official Facebook page.
Malaysia’s economy expanded by six per cent last year with the services sector accounting for 55 per cent of the country’s economy while manufacturing 25 per cent.
The country’s gross domestic product has grown at a compounded annual growth rate of six per cent to RM835 billion last year from RM630 billion in 2009. – Bernama
(Source: Daily Express)
April 22, 2015
Kuala Lumpur: Malaysia’s economy is set to grow between 4.5 per cent and 5.5 per cent this year, Prime Minister, Datuk Seri Najib Tun Razak said.
“The growth rate will make Malaysia one of the 20 fastest-growing economies in the world.

World’s largest high-growth specialty refinery complex at Lahad Datu POIC

Posted on : 21-04-2015 | By : sabah today | In : News

April 21, 2015
Kota Kinabalu: A joint-venture by Genting Plantations Bhd and US-based Elevance Renewable Sciences will see the development of the world’s largest high-growth specialty refinery complex at the Palm Oil Industrial Cluster in Lahad Datu.
Biotech Corp’s Chief Executive Officer Datuk Dr Mohd Nazlee Kamal said it will be one of the high impact projects that will use oil palm as base involving a RM2 billion investment to build the Integrated Bio-Refinery Complex.
Under the 25:75 collaboration a 240,000 metric tonne metathesis biorefinery will be set up using Elevance’s proprietary metathesis technology.
It will also produce renewable, high-performance olefins and speciality chemicals that can be used in multiple end-product applications, including lubricants and surfactants and detergents.
The project is considered one of the Entry Point Projects in Sabah.
“It will produce high-value live derivates from the oil palm,” he said. “In terms of technology it is the first in the country.”
The collaboration will also see Genting paying Elevance licence and design fees, and Elevance will provide the intellectual property rights, knowledge transfer, technical and consulting services.
Elevance will also be exclusively responsible for the sale of all specialty chemicals that are produced at the bio-refinery, a statement from the Elevance Renewable Sciences website revealed.
Meanwhile, Dr Mohd also pointed out that Sabah is also home to the largest single Patchouli oil producer in the world.
Patchouli oil (Nilam) is a chemical used as base for almost all types of perfumery, which comes from the Patchouli plant.
“Gaya Natural from Merotai, Tawau produced a very high quality oil. They have a huge facility in Tawau,” he pointed out.
“But little is known about the fact. We are basically the leader in the industry,” he added.
(Source: Daily Express)
April 21, 2015
Kota Kinabalu: A joint-venture by Genting Plantations Bhd and US-based Elevance Renewable Sciences will see the development of the world’s largest high-growth specialty refinery complex at the Palm Oil Industrial Cluster in Lahad Datu.

RM51.6b invested in Sabah biotech sector to date

Posted on : 21-04-2015 | By : sabah today | In : News

April 21, 2015
Kota Kinabalu: A total of RM51.6 billion of RM147 billion in investment commitments has gone into biotech efforts in Sabah from 2008 to March 28 this year, thanks to the Sabah Development Corridor (SDC) Action Framework.
Deputy Chief Minister cum Agriculture and Food Industries Minister Datuk Seri Yahya Hussin said the government has long noticed the potentials of biotechnology and due to the State’s rich biodiversity, Sabah has been a boon to investors.
“It is without a doubt Sabah is one of the most interesting investment destinations in the country,” he said during the launching of the Bio-Borneo 2015, here.
He noted that the SDC has now reached the second stage of its Action Framework, which aims to boost the State’s Biotechnology Central Action Plan.
Some of these initiatives include its flagship projects namely Palm Oil Industrial Cluster (POIC), Sabah Agro-Industrial Precinct (SAIP), Keningau Livestock Integrated Centre and the Integrated Marine Cluster, which are now in “various stages of completion.”
Yahya said the Keningau Livestock Integrated Centre that aims to rear high milk producing hybrid cows is expected to generate RM763 million in investments, which will be channeled to the districts of Keningau, Sook and Nabawan. “We still require more investments in the field of bio-economy,” said Yahya, adding that the creation of the centre promises highly-skilled work as well as a boost to the State’s dairy industry.
Biotechnology is the use of living systems and organisms to develop or make products, or “any technological application that uses biological systems, living organisms or derivatives thereof, to make or modify products or processes for specific use.”
In the various effort to woo local investments, Yahya said a special incentive package from the Federal Government was also created to assist investment under the SDC flagships, which include a statutory tax relief package for up to 10 years, investment tax allowance and import duty exemption.
Meanwhile, Science, Technology and Innovation Minister Datuk Ewon Ebin said the ministry was also involved directly in the field of biotechnology in Sabah in three entry point projects.
He said through Biotech Malaysia, the ministry expects to contribute RM1.18 billion to the national Gross National Income through its inputs in bio-based agriculture, high-value bio-based materials and food, which are divided into six pioneer projects.
Furthermore, a RM20 million fund has also been created to commercialise the bio-tech products of locals through the Yayasan Inovasi Malaysia Social Innovation Fund.
Ewon said the Yayasan Inovasi Malaysia, which has carried out the Jejak Inovasi programme to document homemade products, has found a total of 3,000 products in Sabah worth to be commercialised.
The fund, he said, is now open for application through the foundation.
“An applicant may not get much but it’s a start for them to commercialise their products. We want to ensure that their produce would have an impact on the economics of their community,” he said.
Meanwhile, more than 30 booths and hundreds of participants took part in the one-day Bio-Borneo Conference and Exhibition which was held for the second time here in Sabah.
The conference aimed to prepare a strategic track to woo more investments in the field of biotechnology through the use of technology.
This year the Bioborneo was titled Bio-based Technologies for Wealth Creation through Bio-economy.
(Source: Daily Express)
April 21, 2015
Kota Kinabalu: A total of RM51.6 billion of RM147 billion in investment commitments has gone into biotech efforts in Sabah from 2008 to March 28 this year, thanks to the Sabah Development Corridor (SDC) Action Framework.

Nation’s first forward sea base on schedule in Sabah

Posted on : 21-04-2015 | By : sabah today | In : News

April 21, 2015
KUALA LUMPUR: The first forward operating base at sea, converted from a decommissioned oil platform, will be in place along Sabah’s east coast by early next month.
According to Defence Minister Datuk Seri Hishammuddin Hussein, it will be the first such base aimed at giving security forces a decisive advantage in protecting the coastline there.
“It took a few months for us to upgrade and it will be positioned early next month.
“Besides oil platforms, we also have vessels that we have identified as mobile forward bases,” he told reporters after delivering a talk on Malaysia’s Defence and Security Policies at the Armed Forces Defence College here yesterday.
Hishammuddin said work was ongoing in Johor to turn the vessels into mobile forward bases to be positioned in Sabah.
The bases are part of the Sea Basing concept, which involves the placement of naval vessels and personnel as well as a small naval base offshore to intercept unknown ships or intruders far from the country’s coastlines.
“This is a new approach and if it is a success, we can not only add more mobile forward bases but also share our experiences with neighbouring countries who are facing the same threats,” said Hishammuddin.
He said the forward bases would also accommodate unmanned aerial vehicles, armed helicopters and patrol boats.
On the proposal to decommission the Royal Malaysia Air Force’s MiG 29N fighter aircraft, Hishammuddin said the replacement chosen would be subject to three conditions.
“It depends on our ability to fund the assets. Whatever assets we acquire also depends on the threats we face and how we can convince the people that the assets are needed by the armed forces,” he said.
Hishammuddin added that the decision to purchase replacements would be announced under the 11th Malaysia Plan.
The RMAF has 16 Russian-made MiG 29N jet fighters, which are used for air interdiction operations.
Bernama reported that French aircraft manufacturer Dassault Aviation had offered its Rafale aircraft, while British multinational BAE Systems had offered the Eurofighter Typhoon and Boeing its F/A-18E Super Hornet to replace the MiG aircraft.
(Source: The Star)
April 21, 2015
KUALA LUMPUR: The first forward operating base at sea, converted from a decommissioned oil platform, will be in place along Sabah’s east coast by early next month.
According to Defence Minister Datuk Seri Hishammuddin Hussein, it will be the first such base aimed at giving security forces a decisive advantage in protecting the coastline there.

Lahad Datu biorefinery project first in world

Posted on : 21-04-2015 | By : sabah today | In : News

April 21, 2015
KOTA KINABALU: Malaysia will become a pioneer in producing high value oleo derivatives such as specialty chemical, olefins, saturated methyl ester and methyl ester sulfonate from palm oil.
The bio-based technology that could be used to produce plastic and nylon products, would be developed through the world’s first Integrated Biorefinery Complex at the Palm Oil Industry Cluster (POIC) located in Lahad Datu.
Science, Technology and Innovation Minister Datuk Dr Ewon Ebin said the project, one of the three trigger projects in Sabah and Sarawak, has been approved by the Bioeconomy Transformation Programme (BTP) Steering Committee.
“A total of RM2 billion will be invested for the project… and in terms of technology we are the first and leading country in the biorefinery,” he told reporters after attending the BioBorneo 2015 opening ceremony here yesterday by Sabah Deputy Chief Minister Datuk Yahya Husin.
Also present were BiotechCorp Chief Executive Officer (CEO) Datuk Dr Mohd Nazlee Kamal and Sabah Economic Development and Investment Authority CEO cum president Datuk Dr Mohd Yaakob Johari.
Ewon said Genting Plantations Berhad would collaborate with Elevance Renewable Sciences, a chemical company from the United States, to build the biorefinery.
He said two more trigger projects in Sabah and Sarawak with high-impact project are Bio-Compressed Natural Gas from palm oil mill effluent and converting palm oil mill waste into bio-organic fertilisers.
Meanwhile, Mohd Nazlee said the ongoing biorefinery project in Lahad Datu was the chemical process which produced the specialty chemical through chemical reaction of bio based material from the oil palm industry.
He said huge manufacturing facilities would be ready in several phases.
“…the palm oil based is more environmental friendly since the raw material is sustainable,” he added.
(Source: The Borneo Post)
April 21, 2015
KOTA KINABALU: Malaysia will become a pioneer in producing high value oleo derivatives such as specialty chemical, olefins, saturated methyl ester and methyl ester sulfonate from palm oil.
The bio-based technology that could be used to produce plastic and nylon products, would be developed through the world’s first Integrated Biorefinery Complex at the Palm Oil Industry Cluster (POIC) located in Lahad Datu.

KL ‘yes’ to Special Grant review

Posted on : 18-04-2015 | By : sabah today | In : News

April 18, 2015
Kota Kinabalu: The Federal Government has in principle agreed to review the Special Grant for Sabah but the sum needs to be determined first based on its ability as well as allocation channeled to the State Government.
Chief Minister Datuk Seri Musa Aman in his winding up speech for the Chief Minister’s Department read by Special Tasks Minister, Datuk Teo Chee Kang on Thursday said the Federal Government made the decision after the Special Committee to Review Sabah Special Grant convened on Jan 29, 2014.
According to him, the latest development on the matter was that a meeting was supposed to be conducted at the end of October last year but it was postponed due to unforeseen circumstances.
“The State Government will continue with the effort to get the Federal special grant for Sabah to be reviewed and that a positive decision can be met so that the State’s economy can be uplifted in parallel with other states in Malaysia,” he said.
The Federal Government had started giving the annual Special Grant to Sabah in 1963 as provided for under Article 112C, 122D and Part IV of 10th Schedule of the Federal Constitution.
There was a misconception that the special grant amount was 40 per cent of the nett revenue collected by the Federal Government from Sabah but the actual definition of “nett revenue” here was revenue collected by the Federal Government minus revenue channeled to the State Government, he said.
In 1964 the Special Grant for Sabah was RM2.5 million and it steadily grew five years after that with RM29.3 million being channeled to Sabah in 1968.
In 1973 the amount received by Sabah was RM26.7 million and it remained until today. “But the State Government will continue to work towards getting this amount to be reviewed including proposing a new calculation formula,” he said.
Musa said the State Government also agreed for a Land Bank to be set up which can be used for future development as proposed by Pantai Manis Assemblyman, Datuk Rahim Ismail.
On Rahim’s proposal for the State Government to reacquire the 200 acres titled land that had been abandoned and with expiring lease term in Kampung Kalanahan, Papar, he said a study would be conducted on the land usage. If there is pressing need for Bumiputera housing development, he said the State Government would gazette the areas as Bumiputera Housing Reserve.
As for the grazing reserve that is yet to be developed, the State Government would consider gazetting part of it as Bumiputera Housing Reserve and the site for the people housing programme and People Housing 1Malaysia Programme (PR1MA) if the development was really needed, he said.
A detailed study is needed on the proposal to prohibit non-Sabahans to purchase Country Lease (CL) titled land above 100 acres especially in terms of its impact to the social and economy as well as investors’ confidence to come to Sabah, he said.
Balung Assemblyman, Datuk Syed Abbas Syed Ali had suggested that the non-Sabahans be prohibited to buy more than 100 acres of CL land except for those located in the urban areas.
Nonetheless, Musa said sales transaction involving CL lands to individuals or companies be it from Sabah or outside of the State was provided for under Section 10 of the Land Ordinance Chap 68 whereby the property is open for the open market for development in order to encourage foreign investors to come to Sabah.
For agriculture land 1,000 acres and above, 30 to 49 per cent of the land ownership shares are allocated to the natives or bumiputera, he said.
On the issue of the hospital for Universiti Malaysia Sabah’s (UMS) medical school, he said the State Cabinet had decided on Dec 9, 2011 to approve a UMS Teaching Hospital (HUMS) that would be developed through public private partnership by the Federal agency, Public Private Partnership Unit. The development plan for 400-bed HUMS on a site identified in the UMS campus had been completed that was monitored by the Federal Public Work Department. The development plan had been submitted to City Hall for endorsement as part of the terms of the HUMS development, he said.
On the issue of stateless children, Musa said the government has yet to make any official decision on whether to give them documents or pass until a thorough study and census on them had been completed.
The issue was currently being scrutinised by two committees namely the Main Committee and Technical Committee on Foreign Migrants Management in Sabah set up as recommended by the Royal Commission of Inquiry.
(Source: Daily Express)
April 18, 2015
Kota Kinabalu: The Federal Government has in principle agreed to review the Special Grant for Sabah but the sum needs to be determined first based on its ability as well as allocation channeled to the State Government.

Only costly projects not yet implemented: No State budget review

Posted on : 17-04-2015 | By : sabah today | In : News

April 17, 2015

Kota Kinabalu: The State 2015 Budget development expenditure will not be reviewed in line with the budget’s halatuju to maintain the State’s development momentum and prosperity of the people.

Sabah never failed to demand

Posted on : 15-04-2015 | By : sabah today | In : News

April 15, 2015
KOTA KINABALU: The Sabah government has never failed to ask or demand anything deemed to be in the best interest for the state, including the matter of petroleum royalty, said Chief Minister Datuk Seri Musa Aman.
However, Musa, who is also Sabah Finance Minister, said anything that was requested by the state government should be fair and reasonable to be met by the federal government, as well as Petronas.
Thus, Musa said the opposition in Sabah need not worry or be anxious because the state government would always be fully committed to ensure Sabah benefited from its natural resources.
“We must work together (to prosper Sabah’s economy) and respect the Federation. There is no need to quarrel, we should (discuss) in a good and professional manner and believe that ‘we have done our duty’ (to ask and demand for our rights),” he interjected when Datuk Dr Jeffrey Kitingan (STAR-Bingkor) was debating the Sabah Yang Dipertua Negeri’s policy speech at the State Assembly (DUN) here yesterday.
Jeffrey, among other things had accused the state government of being taken for a ride by the federal government by not demanding for an increase in petroleum royalty to 20 per cent.
Musa said the accusation by Jeffrey was unfounded because the state government and the federal government together with Petronas always discussed and ensured that the revenue from the oil and gas industry was divided on a win-win basis, including in terms of royalty.
Besides the petroleum royalty, Musa said the state government had also taken steps to identify economic potential in other resources available, including developing downstream processing industries involving the Sabah Ammonia Urea Project (Samur).
This was because the outlook of upstream processing, such as the production of liquefied natural gas (LNG) was currently not so profitable, he said.
“By diversifying revenue (streams) in this industry, the state government can profit and ask for equity, in which Petronas has basically agreed (to give) a 25 per cent equity in Samur,” he said.
Looking at the current scenario, Musa said the state government was more interested in on-shore oil exploration, and had asked Petronas to identify and explore the lands of Sabah, as off-shore oil exploration cost much more, besides being far away.
In addition to that, he said the marginal oil fields take over in Sandakan which had been approved by Petronas in principle would be endeavored to ensure that it would be able to contribute to the economic growth of the state.
(Source: The Borneo Post)
April 15, 2015
KOTA KINABALU: The Sabah government has never failed to ask or demand anything deemed to be in the best interest for the state, including the matter of petroleum royalty, said Chief Minister Datuk Seri Musa Aman.