(Miri 21st) In response to Sarawak DAP Chairman Chong Chieng Jen's suggestion in parliament that the federal government should transfer 30% of Petronas' shares to Sarawak, SUPP Pujut Branch Publicity Secretary Chong Kong Min severely criticized this move as a sinister disguise, intended to mask Sarawak DAP's long-term inaction and mislead the people of Sarawak, allowing Petronas/federal government to continue controlling Sarawak's oil and gas resources.
He stated that Sarawak DAP's claim that obtaining a 30% stake in Petronas can ensure Sarawak's rights is not only naive but also exposes their ignorance of commercial operations. Anyone familiar with corporate operations knows that merely holding shares does not mean having substantial decision-making power or control over resources.
"Firstly, even if Sarawak obtains a 30% stake, decision-making power remains with the federal government, because the controlling stake still belongs to the federal government. Secondly, a 30% stake does not mean direct control over the distribution of oil resources, and Sarawak will still be passive in terms of operations, policy making, and resource management. Finally, corporate equity involves complex financial operations, including issues like dividends, profits and losses, and management decisions, which could put Sarawak in a disadvantageous position, possibly even bearing additional financial risks, rather than the 'easy profits' portrayed by Sarawak DAP."
He also said that Sarawak DAP's proposal looks like a fight for Sarawak's rights but is actually an attempt to use the 30% stake as a disguise, misleading the people of Sarawak into thinking that having shares equals obtaining oil rights. In fact, true rights are not based on holding shares, but on ensuring that Sarawak has direct control and voice over local natural resources.
"Sarawak DAP's rhetoric is actually a tacit admission of the federal government's control over Sarawak's oil and gas resources, undermining the substantial rights obtained by the Sarawak government through negotiations. Moreover, this has no practical significance and will instead cause Sarawak to lose more leverage in negotiations and become subordinate to the federal government."
He pointed out that, in comparison, the achievements that Chief Minister Datuk Patinggi Abang Johari achieved through negotiations with Prime Minister Anwar are far more practical than DAP's empty proposal, achieving a win-win situation.
"This negotiation ensures Sarawak's substantial voice and protection in the oil and gas sector, and strengthens cooperation between Sarawak and Petronas, enabling Sarawak to more effectively develop its local oil and gas industry. Most importantly, the Sarawak government successfully secured a promise from Petronas to supply Sarawak with up to 1.2 billion standard cubic feet of natural gas daily, which was only 450 million cubic feet before negotiations. This achievement significantly enhances Sarawak's control over local natural resources and brings great business opportunities for Sarawak's economic development."
Chong Kong Min believes that Sarawak DAP is not unaware of these facts, but chooses to ignore them selectively to achieve political goals. By continuously misleading the people of Sarawak, they attempt to undermine the results of the Sarawak government's negotiations and create distrust towards the Sarawak government. This practice is not only irresponsible political maneuvering but also a betrayal of Sarawak.
"Therefore, the people of Sarawak must remain vigilant and not be deceived by Sarawak DAP's disguises. True rights are not achieved by holding a 30% stake but by the Sarawak government continuously negotiating, insisting on fighting, and controlling substantial resource allocation power to safeguard them. Hence, Chong Kong Min calls on the people of Sarawak to unite and support the Sarawak government in defending Sarawak's oil and gas rights, let time prove the results of these negotiations, and jointly promote Sarawak towards a more prosperous future."
He stated that Sarawak DAP's claim that obtaining a 30% stake in Petronas can ensure Sarawak's rights is not only naive but also exposes their ignorance of commercial operations. Anyone familiar with corporate operations knows that merely holding shares does not mean having substantial decision-making power or control over resources.
"Firstly, even if Sarawak obtains a 30% stake, decision-making power remains with the federal government, because the controlling stake still belongs to the federal government. Secondly, a 30% stake does not mean direct control over the distribution of oil resources, and Sarawak will still be passive in terms of operations, policy making, and resource management. Finally, corporate equity involves complex financial operations, including issues like dividends, profits and losses, and management decisions, which could put Sarawak in a disadvantageous position, possibly even bearing additional financial risks, rather than the 'easy profits' portrayed by Sarawak DAP."
He also said that Sarawak DAP's proposal looks like a fight for Sarawak's rights but is actually an attempt to use the 30% stake as a disguise, misleading the people of Sarawak into thinking that having shares equals obtaining oil rights. In fact, true rights are not based on holding shares, but on ensuring that Sarawak has direct control and voice over local natural resources.
"Sarawak DAP's rhetoric is actually a tacit admission of the federal government's control over Sarawak's oil and gas resources, undermining the substantial rights obtained by the Sarawak government through negotiations. Moreover, this has no practical significance and will instead cause Sarawak to lose more leverage in negotiations and become subordinate to the federal government."
He pointed out that, in comparison, the achievements that Chief Minister Datuk Patinggi Abang Johari achieved through negotiations with Prime Minister Anwar are far more practical than DAP's empty proposal, achieving a win-win situation.
"This negotiation ensures Sarawak's substantial voice and protection in the oil and gas sector, and strengthens cooperation between Sarawak and Petronas, enabling Sarawak to more effectively develop its local oil and gas industry. Most importantly, the Sarawak government successfully secured a promise from Petronas to supply Sarawak with up to 1.2 billion standard cubic feet of natural gas daily, which was only 450 million cubic feet before negotiations. This achievement significantly enhances Sarawak's control over local natural resources and brings great business opportunities for Sarawak's economic development."
Chong Kong Min believes that Sarawak DAP is not unaware of these facts, but chooses to ignore them selectively to achieve political goals. By continuously misleading the people of Sarawak, they attempt to undermine the results of the Sarawak government's negotiations and create distrust towards the Sarawak government. This practice is not only irresponsible political maneuvering but also a betrayal of Sarawak.
"Therefore, the people of Sarawak must remain vigilant and not be deceived by Sarawak DAP's disguises. True rights are not achieved by holding a 30% stake but by the Sarawak government continuously negotiating, insisting on fighting, and controlling substantial resource allocation power to safeguard them. Hence, Chong Kong Min calls on the people of Sarawak to unite and support the Sarawak government in defending Sarawak's oil and gas rights, let time prove the results of these negotiations, and jointly promote Sarawak towards a more prosperous future."