Sabah’s rich resources must be prioritised for use towards the prosperity of Sabah and benefit the people, and as a nation, Malaysia, benefits from taxes and vibrant economic dynamism. Minister of International Trade and Industry (MITI) YB Datuk Ignatius Darell Leiking said as he made it clear that he wears two hats, one as a Federal Miti Minister responsible for the whole country, and as a Sabahan politician. Sabah has talents locally and overseas to be lured back, who can manage its rich natural resources well for future generations, he said. The entire ownership in, and the exclusive rights, powers, liberties and privileges of exploring, exploiting, winning and obtaining petroleum whether onshore or offshore of Malaysia shall be vested in Petronas incorporated under the Companies Act 1965 enjoying the ownership, rights, powers, liberties and privileges and that the ownership and the exclusive rights, powers, liberties and privileges so vested shall be irrevocable and shall endure for the benefit of Petronas and its successor.
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