Hopes of the oil and gas producing East Malaysian states of Sabah and Sarawak that their royalties will be increased to 20% from 5% in the next federal budget have been all but dashed, writes Amanda Battersby.
Prime Minister Mahathir Mohamad said this 20% royalty rate is “not really workable” despite it being part of the Pakatan Harapan (PH) government’s election manifesto.
