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  • Staff Member 01

No Investment for RAPID Pengerang?

Not good news for Petronas and Malaysia this morning. Reuters reported last night that Saudi Arabia’s Aramco has decided not to invest in the RAPID Pengerang project. There were talks in June last year that Aramco was keen to partner Petronas and raise USD7.2 billion for the mega USD27 billion (RM120 billion) project.

The Saudis about turn is very perplexing, since (according to Najib) they used to absolutely love him. So much so that they gave him a RM2.6 billion donation to his personal bank account. I mean, how many people can out-claim to the world, the deep love the Saudis have for one single person?

So this morning, we are all sad wondering why the sudden change of the Saudis’ heart? Maybe the Saudis recently have had a word with the other former very, very big fan of Najib, the Abu Dhabi rulers (who are now suing 1MDB for return of stolen IPIC money).

Nevermind lah. This morning Najib better call his new best friend, President Xi. Maybe the China government can put in another RM120 billion into this project too.


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