20 Jan 2011

First Our Trees, Now Our Oil?

First Our Trees, Now Our Oil?

This post is also available in: Iban, Malay
Siphoning off Sarawak’s oil reserves

Having stripped Sarawak’s forests bare it seems Taib‘s timber tycoons are moving in on its oil reserves.  Insiders were alerted by a low-key Singapore stock market announcement on January 6th, saying that Rimbunan Hijau are expected to ‘inject’ more oil field assets into their subsidiary Rimbunan Hijau Petrogas.  The suspicion is that these oil fields have been granted in the shallow waters of Sarawak!

The announcement was made by the stockbrokers Kim Eng, who are selling new shares for Rimbunan Hijau Petrogas.  They are priced $0.82, based on “a conservative valuation of the company’s oil field assets” and the brokers hint that the price is a bargain becuase:

“it is also likely that there will be more oil field assets injected into RHP from the RH Group”   [Kim Eng - 6th January]

What oil field assets?

Taib’s top tycoon, Tiong Hiew King. One of Malaysia’s top ten billionaires.

So how could the billionaire tycoon boss of the Rimbunan Hijau Group, Tiong Hew King, one of the Chief Minister Taib Mahmud’s key business cronies laid his hands on Malaysian oil field assets?  Till now all the country’s oil fields have been controlled by Petronas, which has done deals only with major international oil companies.

Yet there were reports of hints at the end of last year that the Government would start to allow local companies to start to exploit the so-called ‘marginal fields’ that the major companies have not tapped.  Many of these marginal fields are in the shallow waters of Sarawak and this would give power over the granting of these licences to the Chief Minister Taib Mahmud.

Tiong is already one of Malaysia’s top ten richest men as a result of his exploitation of Sarawak’s timber, thanks to the numerous concessions handed to him by the Chief Minister.   He has also been at the forefront of the rush to gain oil palm concessions.  Just this week it was announced that the Sarawak Mosque Welfare Trust (Lembaga), a major palm plantation owner, has transferred its assets to Tiong.  The Chairman of Lembaga is also the Chief Minister, Abdul Taib Mahmud.

It therefore seems only too likely that Taib has now also approved the granting of the previously protected oil concessions to the same key crony.  Wouldn’t all Sarawak love to know what percentage of the deal is owed to Taib himself?!

With the wood running out Rimbunan Hijau has moved into petrogas in recent years

With the wood running out Rimbunan Hijau has moved into petrogas in recent years

Inside knowledge

Cutting edge? RHP already has concessions in Papua New Guinea, an area where its loggin activities have been notorious

The marginal fields are risky ventures but are still worth billions of ringgit to those people who know where the best oil reserves are.  Information has come to Sarawak Report that former Petronas data executive is providing just such consultation advice to Rimbunan Hijau, after having moved to Murphy Oil which is a US company which also specialises in exploiting marginal oil fields.

Murphy Oil has turned itself into a $20 billion company over the last 5 years with the assistance of such valuable data advice say the experts and now Rimbunan Hijau is also benefitting from the same confidential information about Sarawak’s precious remaining resources!

Start of an oil rush?

If the Federal Government has indeed quietly relaxed its rules on the granting of marginal oil fields and Taib has acquired the ability to hand out such licences then Sarawak can expect a rush of similar deals as Taib’s other cronies set about sucking dry our oil reserves in the same way they took all our timber.  With such inside knowledge these companies could move fast and take all of Sarawak’s valuable resource in just a few years.

They have taken the trees and now they are after the oil. But how will it benefit the future of this little girl?

Sarawak is already heavily exploited by Malaysia for its oil.  Only 5% of the profit from what Petronas extracts  is allowed to remain in the State, the rest all goes to the Federal Government and West Malaysia.  This is the deal that Taib has agreed with his BN political colleagues.  Now if he has got control over handing out the shallow water licences the people of Sarawak have to consider how much of that profit will be spent on the needs of the people?

Do they think that any more benefit will come to them as a result of Taib and his crony companies removing their oil as well?

Perhaps they should start by considering how much benefit they got from the loss of their trees?  In the case of the child in this picture her family was offered RM 250 for native lands holding timber worth million of ringgit.  In the Miri area hundreds of longhouses are currently being flooded because of  logging in the Baram River Basin.  One of the main companies responsible is Rimbunan Hijau.

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  • http://ngausaloi.blogspot.com Nagu saloi

    I am sick of this robbing of our natural wealth resources and the culprits are getting away with it without anything we can do about it. Wait. here is something we can do. Vote out the irresponsible politicians that called themselves "wakil rakyat". Time to change the government or we will lose all forever…..

  • najibrazak

    How did "timber" Taib persuade me that he could get into the oil business which, by virtue of a special law, I am the only person in Malaysia entitled to know all about? That would be telling wouldn't it!

    The fact is that nearly all the trees have gone and honest politicians are entitled to new massive sources of income are we not? Look how hard we work. Wearing out the seat cushions in government helicopters visiting clinics for which we cant provide doctors. Sitting through endless banquets paid for by the taxpayers and ruining our waistlines. Its a really hard life so we must have our compensations. Patut?

  • http://none Watch Dog says…

    QUOTE",I DO NOT WANT TO MAKE THE MALAYS AND DAYAKS RICH.IF THEY DO,THEY WILL GO AGAINST ME." UNQUOTE BY THE THIEF MINISTER.

    I WILL MAKE THE CHINESE RICH AS THEY WILL LOOK AFTER ME…SAID TM.!!

    TIME WILL TELL AND I AM SICK WHY DO THE DAYAKS YBs STILL FOLLOW HIM.FOR WHAT??A CRYING SHAME.

    • anynomous

      very very very stupid YB.jadi ukoi

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  • kapitan

    nothing we can say as long as Taib in power……tell our rural folks especially for those could not access to internet. Taib's power only can be topple by people's power that is vote casting during the next election. millions of talks is of no avail if no action (vote casting) during the coming election…….

  • dayak-rambo

    This is THIEFT minister "Master PLAN"!!!WTF……………

  • confused public

    this is outrageous…my grandfather came to sarawak to survive…my father studied and work here for a normal living and i born,studied and still living here as one of the pure sarawakian…even me as the third generation living in this prosperous and and god blessed land IS VERY ANGRY ON WHATS GOING ON IN OUR LAND….HOW COULD THE DAYAKS, MALAYS AND OTHER RACES WHO HAVE LIVE THROUGH GENERATIONS AND GENERATIONS DONT HAVE ANY SENSE ON WHATS GOING ON????? WHAY HAPPEN TO YOU GUYS….THESE TAIB AND HIS ALIENS HAVE SUCKED MAINLY THE DAYAKS TO LIVELESS HUMAN BEINGS…THEY HAVE NOTHING…MAJORITY OF THEM..EVEN I NOT AS A DAYAK FEEL PITY TO THEIR RACES….PLZZZZZZZ….WAKE UP…FIGHT WHAT LEFTTTTTTTTTTTTTTTTT FOR YOU…IF NOT…MAYBE ONE DAY…ALL WILL BE A HISTORY WHICH CANT BE CHANGED ANYMORE…..!!!!!!!!!!!!!!!!!!!!!!!

  • http://yahoo Orang2bangkit

    ANGRY PEOPLE ARISE!

    WE NEED TO NAIL THE PILLAGING MINORITY CLASS!

    It is important to separate the tiny minority of billioniare or even trillionaire class from the rest of the Sarawak population not just Dayak, Malay but also Chinese.

    We must see that Taib gang uses the minority Towkay class not all Chinese to get rich.

    This minority class has the experience and business background and also political cunning to link up with the ruling elite (they are also part of the ruling elite gang) to gang up with their colonial master UMNO tO pillage our country and oppress the majority of (only vote) powerless people.

    AT this moment the the Taib gang and towkay class is poised to launch itself to be the new oil tycoons and more wealth will be plundered.

    There are no exact calculations of the multi- trillions the Taib Mhamud, Tiong, Yu, Ling and Ting (mostly Foochow) traitor families have taken out of Sarawak as their private diamond mine in the last 48 years.

    We are not against honest small business Chinese people but the minority towkay class proven to be traitors and plunderers. They cannot be saved unless they show regret and return all the country's wealth.

    Let us as the angry people of Sarawak make a resolution now that when we free ourselves from the oppression of this minority and Malayan colonial rule, we much not only limit action to Taib Mahmud's family but the Chinese Towkay class and all others (whether Malay or Dayaks) to take back our wealth.

    It will be difficult to trace the missing trillions and may take years of legal action.

    We will still know from public records who participated in the pillage so they will not go free.

    This NOTICE is nailed to the world internet wall so that the mentioned minority have been warned.

  • BUCKLYNN RIMBAR

    may God be on ur side…cause sarawakians don hav d cash….cos cash is king…..

  • imam frustrated

    ketua mentri sarawak dahjal dan syaitan bertopeng islam, harus direjam batu…kawan2 dia cina kafir,,,sama macam umno dan islam plastic mereka…ini bermakna islam harus ditegakkan…kerna malu…dibuat taib dahjal….org2 islam suci akan bangkit dan berdakwah keseluruh sarawak dan kampung2 pendalaman…kerna mereka harus di tolong golongan yd ditidas si taib dahjal kerna kalau tidak nama islam akan tercemar…sekarang islam pun jadi ugama banyak org2 penan,,,macam di bintulu bakun,,amin..ALLAHUAKBAR….

  • http://freesarawak.blogspot.com freeSARAWAK

    hantar balik keturunan uban balik ke asal usul mereka…..kelantan

  • rimba

    Rimbunan Hijau is head of gangsterism that allowed by chieft gangster's taib. If taib honest in running the state all gangsters not be bermaharajalela. So anak buah rimbunan like sinyang and others private logging grow like cendawan and continue to rob balak and destroy natural habitats.

    Those who had taken flight from bintulu to kuching and if you realise the ground look too many spots of harvest our log have been done. If by road you will don't know this activities happen because along the way the forest still untouch.

    And this bustard long strategic plan will continue to conquer our water? If i not mistaken the marginal oil fields derive 12 nautical miles from land. Small fish are bealive hatch and grow from this area and it is only income source for traditional fisherman.

    After ruin the land, fishermen will the next victim.

    Taib and his cronies already multimillioner, their money and properties already standby abroad for their future generation. (But unlucky they cannot go to other earth but still breath air from borneo forest and maybe they also die in this land that spoiled by them)

  • The soldier of the t

    I will kill him, with Sniper Rifle, Grenade and Hand Gun. KILL THE THIEF !!!!!!!!!!!!!!!!!!!!!

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