Malaysia's state energy firm forecast to contribute over 13 bln USD to budget
Malaysia's state energy firm Petroliam Nasional Bhd (Petronas) is forecast to contribute to around 59 billion RM (13.25 billion USD) to the government budget this year, a year-on-year rise of about 12%.
Illustrative image (Photo: Petronas)Speaking at a recent Parliament session, Minister in charge of Economy Mustapa Mohamed said that Petronas contributions are a significant source of revenue for the federal government, which is expecting to spend a record 77.3 billion RM in subsidies and cash aid this year to help the public tackle inflation.
In 2021, the company contributed 48.2 billion RM in dividends, taxes and cash payments to the government.
Petronas projects a total after-tax profit of around 75-80 billion RM this year, Mustapa added./.
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