Sarawak’s SST on petroleum products generates RM14.7 bln as of Oct 2023, says Batu Kitang rep

Lo delivering his speech at the SUPP Batu Kitang 8th Anniversary and Chinese New Year Gala Dinner held at a restaurant in Kuching on Feb 27, 2024.

By Ashley Sim and Marlynda Meraw

KUCHING, Feb 28: The State Sales Tax (SST) on petroleum products in 2019 has contributed RM14.7 billion to Sarawak’s coffers as of October last year.

Batu Kitang assemblyman Dato Lo Khere Chiang reiterated this statement at the Sarawak United People’s Party (SUPP) Batu Kitang 8th Anniversary and Chinese New Year Gala Dinner, which took place last night (Feb 27) at a restaurant here.

“Petros, Abang Jo’s (Sarawak Premier Datuk Patinggi Tan Sri Abang Johari Tun Openg) brainchild and Sarawak’s very own oil company, is now Malaysia’s third largest oil company, with a revenue of RM1.5 billion.

“In addition, the Premier has bought over Shell’s 15 per cent stake in Malaysia LNG Tiga Sdn Bhd (MLNG Tiga). This increased Sarawak’s shareholding in MLNG Tiga to 25 per cent resulting in an additional earning of RM1.5 billion annually,” he said.

Lo went on to say that the Premier is embarking on producing green methanol and green hydrogen, with its hub in Sibu catering to the shipbuilding industry in Sibu, projected to generate an additional RM1.5 billion.

“Estimates show that Sarawak has about 30 trillion cubic meters of carbon storage capacity in the seabed of its continental shelf which will bring in about RM2 billion to RM3 billion annually for Sarawak.

“Sarawak also has 7.7 million hectares of forest, with 7 million designated for sustainable forestry and conservation. Here, there is vast potential for carbon sinks, sequestration, and tree planting in Permanent Forests, estimating an annual revenue of between RM315 million to RM1.039 billion,” he added.

Lo continued: “With all these resources and achievements, what do we need today?

“We need to have a very stable government. We need every Sarawakian to be united under GPS (Gabungan Parti Sarawak) and with one voice, demand for our rights and our autonomy on health and education back to Sarawak.”

The event was attended by various dignitaries and officials, including Deputy Premier of Sarawak Datuk Amar Dr Sim Kui Hian, Sarawak Chamber of Commerce and Industry (SCCI) president Dato Sri Abang Abdul Karim Tun Openg, and Kota Sentosa assemblyman Wilfred Yap. — DayakDaily