NGO slams DAP MP's suggestion for S'wak govt 30pc stake in Petronas

Summary

• Sekretariat Tanahair slams DAP MP Chong Chieng Jen for suggesting that the Sarawak government negotiate a 30 percent equity stake in Petronas.

• Secretary-general Armin Baniaz Pahamin says the suggestion violates the Federal Constitution while highlighting Petronas' role as a strategic national asset.

• He also raises concerns about Petros, saying that its introduction without proper legal reform has created several negative effects.

An NGO slammed DAP MP Chong Chieng Jen for urging the Sarawak government to push for a 30 percent equity stake in Petronas, as it would hinder the federal government's financial ability while introducing power struggles between states.

Sekretariat Tanahair secretary-general Armin Baniaz Pahamin said this could lead to a destabilisation of Malaysia's political and economic landscape.

He pointed to Petronas' role as a strategic national asset, highlighting its role to act in the interest of all Malaysians.

"Such a proposal is not only in direct violation of the Federal Constitution and national laws, but it also poses an outright threat to Malaysia’s economic sovereignty and undermines the very foundations of federalism upon which this nation was built," he said in a statement today.

On May 23, Chong called on the Sarawak government to negotiate a 30 percent equity stake in Petronas, citing Sarawak’s current political influence over Putrajaya and the federal government’s openness to Sarawak’s demands.

According to the Borneo Post, the Padungan MP argued that since most of Malaysia’s gas comes from Sarawak, the state should have a significant stake in Petronas, suggesting 30 percent as a fair estimate.

Speaking during a debate in the Sarawak state legislative assembly, he stressed that he was not calling for conflict between Petronas and Petroleum Sarawak Bhd (Petros) but advocated for equity participation instead.

Policy uncertainty

Armin further raised concerns about Petros being made the sole gas aggregator in Sarawak without proper legal reform, which he said has created "dangerous dualism in the governance of the national energy sector".

It has created policy uncertainty and undermines investor confidence while threatening Malaysia's position as a strategic investment destination, he added.

"Petronas must remain a symbol of national economic sovereignty, wholly owned by the people of Malaysia, and must not be compromised by the opportunistic agendas of political figures like Chong," he said.

He further condemned Chong for making what he deemed as yet another unconstitutional statement.

He accused Chong of making calculated moves to destabilise Malaysia, citing the latter's criticism of Federal Court decisions as well as his questioning of the special position granted to bumiputera and Islam's status as the federal religion.

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