There are glaring failures of transparency and information in the South Sea Energy and Petros contract, clearly highlighting the pattern Taib has woven to divert money away from the ordinary people of the state.
Given that back in 2016 the Taib family’s control of South Sea Energy was made fundamentally clear by their negotiation of the $150 million bank loan in Oman, how come no mention of the Governor’s family’s links to this company, now that it has been so mysteriously woven into the Petros contract in a role as yet to be defined?
Instead, an unheard business lady named Lily Chin was featured as the main shareholder of SSE, along with another unheard of Wong Kung Nwak. Lily Chin was paraded centre stage at the signings of the MOU together with Taib’s trusted business crony Tiong Kiong King, described as ‘executive director’, despite the fact there is no mention of Tiong as a director in the company register.
The 2012 Territorial Sea Act motivated Taib for the first time to embark on his own local oil extraction on land. He was venturing into oil and gas by the diminishing timber and volatile palm oil prices.
The timber of Borneo was almost expired (apart from thieving from national parks and across the border) and oil palm plantation concessions had been largely handed out. ‘Phase 3’ of Taib’s original plans to keep growing his multi-billion dollar personal empire was the industrialisation programme called SCORE (Sarawak Corridor Of Renewable Energy).
However, SCORE was and is still struggling due to Taib’s failure as a business visionary. The damming up of Sarawak’s rivers has been controversial for countless environmental and community reasons, resulting in limited foreign investment.
The close involvement of the Governor of Sarawak in this business venture of his son’s will come as little surprise to those who are aware of the blatant use the veteran kleptocrat has made of his family members to act as fronts for his global business activities.
In March 2016, the national Times of Oman newspaper reported that South Sea Energy, which it described as holding ‘international expertise in the oil and gas industry’ was finalising a major deal with the local Bank Nizwa to raise a $150 million financing arrangement (Sharia compliant, of course) to enable investment in Oman’s massive new oil exploration Block 17. The facility was granted to the Sarawak company in its capacity as a key partner in PetroTel Oman (PetroTel), the operator of the 2,378 square kilometre prospective oil field.
Pursuing a personal vendetta with no benefit to the rakyat, gets you kicked out as a Wakil Rakyat – because you become Wakil Sendiri.
Wee Choo Keong still does not understand pursuing Siew Ka Wai, ex-chairman of Tourism Malaysia – confirmed Najib confidante and apologist (Crony who owns Ancom, Ancom Kimia, Redberry & Malaymail, etc) does not interest the rakyat.
The ex-Yang Berhormat must show how SKW’s cheating and abuse of power (such as forcing a RM99 million contract in just 24 hours between his company and Tourism Malaysia, has made Malaysian poorer while SKW and his sexy side-kick get disgustingly rich. The fact in that case was Tourism Malaysia and Ministry Officials acted improperly and must be investigated, just as SKW must be.
I hope Facebook takes action against the person who posted this message for insinuating that Petronas was linked to the incident. The incident is tragic and the people and families involved should not be trivialized. Stating that it happened in Terengganu on a Petronas rig is untrue and malicious.
The incident happened in the Persian Gulf and involved an Iranian platform in the Persian Gulf in 2013 and this is the video.
“Petros is fortunate to gain Saau’s experience, talent and vision. I am confident that he is the right person to lead Petros into the future, adding value to the careers of talented young Sarawakians while making Petros the best place to work,” proclaimed Sarawak Chief Minister Abang Johari Tun Openg when announcing Saau Kakok, a former special projects vice-president for Asia of the US-based independent oil company Hess Corporation, as the CEO of Petroleum Sarawak or Petros in March 2018.
For context, Hess has a collection of gas fields in the North Malay Basin offshore Malaysia and in the Malaysia-Thailand Joint Development Area as a 50 percent equal partner with Petronas. Hess currently supplies 25 percent of peninsular Malaysia gas, which makes its assets here a key core holding for Hess International.