Yap: Don’t blame Sarawak’s oil demands for federal fiscal woes

AI Summary

Kota Sentosa assemblyman Wilfred Yap criticized former economy minister Mohd Rafizi Ramli's claim that increasing Sarawak's oil and gas revenue share could negatively impact Malaysia's credit rating. Yap argued that Sarawak's demands are based on legal and constitutional grounds, including MA63. He highlighted the disparity between Petronas's contributions to the federal government and Sarawak's 5% royalty, despite being a major oil and gas producer. Yap emphasized that Malaysia's economy should diversify and not rely solely on Petronas or Sarawak's resources, advocating for inclusive economic development and transparent governance.