Facebook Twitter LinkedIn Threads WhatsApp TelegramKUCHING (Jan 30): The recent proposal by Stampin MP Chong Chieng Jen suggesting that the Sarawak government be granted a 30 per cent equity stake in Petroliam Nasional Berhad (Petronas) “makes little sense”, said Kota Sentosa assemblyman Wilfred Yap. Yap stressed that Petronas is not an ordinary commercial entity, but a national oil corporation wholly owned by the federal government and established under the Petroleum Development Act 1974. “Any suggestion to transfer 30 per cent equity is not a simple administrative decision but would require major legislative and structural changes, with far-reaching constitutional, fiscal, and corporate implications. He also cautioned that a 30 per cent shareholding would not automatically guarantee stable revenue or meaningful control. Yap urged Chong to revisit the legal and constitutional framework governing Petronas and Sarawak’s resource rights before tabling proposals.