00:01Petronas is one of the best-run companies in Malaysia.
00:06That is why it is listed in Fortune 500.
00:10But because of politics, it's going to be split.
00:16I think there may be other solutions that also favour Sarawak.
00:22But to destroy Petronas, I think, is a bad move.
00:29Former Prime Minister Dr. Mahathir Mohamad says Sarawak's quest for greater autonomy and control over oil and gas resources must be brought to Parliament and not dealt with via backroom negotiations.
00:42He added that in a federation, national policies must overwrite state-level interests with equitable wealth distribution among all states.
00:51Mahathir also highlighted Sarawak's economic progress since joining Malaysia.
00:57I mean, Sarawak was under the British rule.
01:00Did they build the twin towers?
01:04They were very poor.
01:06The British took all the money.
01:08It is only when we formed Malaysia that we set up Petronas.
01:13No other developing country has anything that is like Petronas.
01:20While he acknowledged Sarawak's right to seek better oil revenue terms, he warned against weakening Petronas, which plays a vital role in national development.
01:30Ongoing tensions between Petronas and Petroleum Sarawak Berhad have raised concerns among analysts about market fragmentation and investor confidence.
01:39However, Mahathir said that strong governance, which Petronas has demonstrated for decades, rather than mere resource ownership, is essential for long-term prosperity.
