Sarawak gov obtains dividends post investment in three MLNG plants
Date: 2018-04-15   Author: Saipriya Iyer  Category: #news

Sarawak gov obtains dividends post investment in three MLNG plants

The government of Sarawak has reportedly received nearly MYR 20 billion in accumulated dividends after it made a substantial investment in three MLNG (Malaysia Liquefied Natural Gas) plants in Bintulu. The news has come to light through the speech made by the Chief Minister of the state, Datuk Patinggi Abang Johari Openg. Incidentally, the accumulated dividends have been obtained from the investments in the subsidiaries of Petronas – namely, MNLG Dua, MLNG Tiga, and the MLNG Satu plants at the Petronas Complex.

As per sources, the Sarawak CM had already mentioned earlier about how important it is for the state government to expand its revenue structure to fund infrastructure development projects for improving physical connectivity across the state. He also claimed that the state was in dire need of both, physical & cyber connectivity for creating an ecosystem that works in harmony with the digitalization of Sarawak’s economy in the oncoming ten years.

The CM also recently witnessed the signing of an acquisition agreement between Shell Gas Holdings Limited and the Sarawak State Financial Secretary Incorporated. During the time the agreement was inked, he was quoted stating that a more sustainable ROI to the state’s overall revenue is anticipated with the Train 9 plant, wherein the state government has taken over a 10% stake from Petronas.

Under this deal, the state government will take hold over 15% of Shell’s stake in the MLNG Tiga plant. After the acquisition is complete however, the state government will increase its stake in MLNG Tiga to 25%. The other stakeholders in MLNG Tiga plant include BV (10 per cent), and Mitsubishi Corporation subsidiary (5 per cent), Petronas (60 per cent), Diamond Gas (Netherlands), and Nippon Oil Finance (Netherlands).

For the record, Abang Johari has been quoted stating that after the state-owned Petroleum Sarawak would be completely operational within the next 24 months, it is likely to generate more valuation from its O&G programs. He further added that the company will also take the lead to develop the downstream operations of O&G companies.



About Author


Saipriya Iyer

Saipriya Iyer

Saipriya Iyer currently works as a content developer for AlgosOnline. A computer engineer by profession, she ventured into the field of writing for the love of playing with words. Having had a previous experience of 3 years under her belt, she has dabbled with website...

Read More

More from Saipriya


Post Recommendents

Laboratory Bottle-Top Dispenser Market Growth Prospects, Key Vendors, Future Scenario Forecast to 2026
Author: Ashwin Naphade

Market Study Report, LLC recently added a report on ' Laboratory Bottle-Top Dispenser market' that delivers a holistic view on industry valuations, market size, profit estimations, SWOT analysis and regional landscape of the market. In add...


Business Outline of Security Appliances Market 2020- 2026 To Surge in The Near Future with Rapid Revenue Growth Across Key Industries
Author: Ashwin Naphade

Market Study Report LLC has announced the launch of Security Appliances market report, a comprehensive study enumerating the latest price trends and pivotal drivers rendering a positive impact on the industry landscape. Further, the report is incl...


Global and Regional Cross-Flow Membrane Market Research 2020 Report | Growth Forecast 2026
Author: Ashwin Naphade

Market Study Report, LLC, has recently added a concise research on the Cross-Flow Membrane market to depict valuable insights related to significant market trends driving the industry. The report features analysis based on key opportunities and ch...