KEPONG MP Lim Lip Eng has urged Prime Minister Datuk Seri Ismail Sabri Yaakob to go “live” on television to explain how the country’s national assets under Petronas were seized by the heirs of the purported Sulu sultanate.
The DAP MP was responding to news yesterday (July 12) that the purported heirs of the Sulu sultanate – who are claiming US$14.92 bil (RM62.59 bil) from Malaysia – had seized two Luxembourg-incorporated subsidiaries of Petronas.
According to London-based Financial Times, lawyers of the claimants seized Petronas Azerbaijan (Shah Deniz) and Petronas South Caucasus, reportedly worth US$2 bil.
The lawyers said bailiffs in Luxembourg seized the holding companies on behalf of their clients yesterday.
“This news report has indeed put Malaysia in the spotlight again for the wrong reasons. We are now an international embarrassment again after the much-publicised 1MDB financial fraud,” Lim said in a statement.
“The Prime Minister is duty-bound to also inform us of the steps to be undertaken by the Government to safeguard our other assets overseas from being seized.
“The people are keen to know if other Malaysian assets in the 167 countries that are signatories to the New York Convention are in the process of being taken over by the heirs of the Sulu sultanate.”
Lim said that investors and the financial markets will lose confidence in the country if Ismail Sabri is unable to provide any “sensible explanation” given the amount claimed.
“On March 1 this year, the Malaysian Government has already been warned of the risk of our national assets in the 167 countries being seized. What did Ismail Sabri and his cabinet ministers do to prevent it? Who shall take responsibility for the money and resign?” he asked.
Earlier Petronas said in a statement that it viewed the action of alleged seizure of its assets as baseless and is working vigorously to defend its legal position on this matter.
“We confirm that our two subsidiaries mentioned in the report have been served with ‘Saisie-arret’ (notice of seizure) on July 11, 2022,” Petronas said yesterday.
It further clarified that these subsidiaries, Petronas Azerbaijan (Shah Deniz) and Petronas South Caucasus have previously divested their entire assets in the Republic of Azerbaijan and the proceeds from the exercise have been duly repatriated. – July 13, 2022
