DATUK John Lo in his Sunday column on 15th June 2023 suggested Sabahans should attend the Forum organised by the Sabah Law Society at the Town Hall. Two subjects will be presented and discussed by lawyers from the Sabah Law Society. One subject will focus on the Malaysia Agreement of 1963, and the other about the recent revival of the 40% net revenue that the Federal Government should pay to Sabah.
Hibiscus Petroleum (Hibiscus) which was initially against paying the 5 per cent Sabah Sales Tax (SST) on petroleum products has decided to pay the RM85.7m owed to the Sabah Government.
It is understood that it was to create a stable environment for continuing investment and smooth operations in Sabah.
It removes the lingering uncertainty in its Sabah operations that could affect its operational efficiency.
The Group is expected to pay the SST annually, an estimated RM44.8m per year assuming crude oil sales of around 2.1 mbbls from North Sabah and 700 mbbls from Kinabalu field