Descendants of the Sultan Ask the Netherlands to Seize Malaysian Assets, Petronas Ready to Fight Back Page all

PUTRAJAYA, – Malaysia’s state oil company, Petronas, on Saturday (10/1/2022) said it would challenge claims from the heirs of the Sultan of Sulu regarding its assets.

Previously, the heirs of the last sultan of Sulu on Thursday (29/9/2022) asked the Dutch court to confiscate Malaysian assets in the Netherlands.

Some of these assets belong to large Malaysian companies operating in the Netherlands, including Petronas.

Read also: Descendants of the Sultan sue Malaysia for IDR 223 trillion over land disputes, confiscate Petronas assets

The Malaysian government replied on Friday (30/9/2022) that it would take legal action at the request of the heirs of the Sultan of Sulu.

Petronas, which is wholly owned by the Malaysian government, has several subsidiaries headquartered in the Netherlands.

“Petronas maintains its view that any action intended to target Petronas in connection with this case is unfounded,” Petronas said in a statement email to Reuters.

“And Petronas will continue to defend its legal position,” the company continued in a statement.

Also read: Petronas Employee Fraud, Claiming 14 Relatives Died of Covid-19 to Get Donations

Sultan Sulu’s heirs targeted Malaysian assets overseas after the “Neighboring” Government refused to recognize an arbitration award from a French court in February.

In the ruling, Malaysia is said to have violated the land lease agreement in 1878.

The Sultanate of Sulu used to include a number of islands in the southern Philippines and parts of the island of Borneo.

In 1878, the Sultan of Sulu at that time signed an agreement with two European colonists in the use of his territory.

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Also read: What Really Happened in Sabah until Petronas Assets were Seized?

But over time, various changes occurred until finally some of the territory of the Sulu Sultanate entered the territory of Malaysia when the “Neighbor Country” became independent.

Malaysia honored the deal and paid the descendants of the Sultan of Sulu around US$1,000 (around Rp. 15 million) a year.

However, that all changed in 2013. Kuala Lumpur halted payments after supporters of the former sultanate launched a bloody offensive seeking to reclaim its land.

The heirs who were not involved in the bloody attack then took legal action through international arbitration against the Malaysian Government.

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Finally in February 2022, a court in France ruled that Malaysia reneged on the lease agreement and had to pay 15 billion US dollars (Rp 229 trillion) in compensation.

Also read: Comparing the Price of Non-subsidized Pertamina RI vs Petronas Malaysia

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