Cash reserves of Petronas have increased to RM164.7bil as of March 2018, an increased of RM36.5bil compared to RM128.2bil at the end of 2017.
The increase resulted from competitive oil prices, cost saving and payments received from Aramco Saudi’s investment for the RAPID Pengerang project.
For 2018, Petronas will raise its dividend payment to the government from 16 billion in 2017 to 24 billion in 2018.
In 2019 budget, additional dividend of 30 billion will be tapped from Petronas cash Reserve.
TotalPetronas contribution to the government will be 54 billion in 2019 (excluding royalty).
This will enable government to pay GST refund to companies and income tax refund to individual.
Indirect cash transfer from Petronas to Malaysian.