Malaysia to grant 20% royalty to its oil-producing states

Prime Minister Tun Dr Mahathir Mohamad has given an assurance that Malaysia will continue to be a business friendly nation.

KUALA LUMPUR: All states that produce oil will receive 20% of profit from the resource, Prime Minister Tun Dr Mahathir Mohamad speaks in parliament.

* Note: Campaign manifesto includes pledge to give 20% royalty to oil-producing Sabah and Sarawak states

* Government’s priority is on cleaning out damage from corruption and efforts to recover missing funds

* Government is committed to carrying out 60 promises and 40 commitments in its campaign manifesto

* Government may not be able to meet its 10 promises for the first 100 days in time - Bloomberg