Luxembourg seizes US$2b Petronas assets for Sulu sultanate (Philippines), while Sulu claims Malaysia Sabah

[Song Hong]

KUALA LUMPUR, July 12 — Authorities in Luxembourg have seized the assets of two Petronas subsidiaries on behalf of heirs of the defunct Sulu sultanate seeking to enforce an arbitration ruling they previously secured against Malaysia.

According to the Financial Times, bailiffs in Luxembourg seized the holding companies and related assets that were valued at over US$2 billion (RM8.9 billion).

Lawyers acting for the heirs had applied for Luxembourg to seize the assets to enforce an arbitration ruling they secured in France, which ordered Malaysia to pay US$14.9 billion to the descendants of the Sulu sultan.

In 2017, descendants of the Sulu sultanate started legal action for compensation over an 1878 lease for land in Sabah that had been signed with a British trading company.

In February, arbitrator Gonzalo Stampa found that Malaysia violated the 1878 agreement and ordered the country to pay the compensation, which it has refused to acknowledge.

The descendants claim that due to this violation they owned the land and had initially wanted to claim US$32.2 billion from Malaysia.

This was to recover the unpaid cession money along with how much they believe they should have been paid for the oil and gas found in the region.

The case was originally heard in Madrid until the Madrid High Court (Tribunal Superior de Justica de Madrid) annulled Stampa’s appointment on grounds that Malaysia was not properly informed about the case and was thus “defenceless”.

One prominent arbitration lawyer told the FT that the French ruling was unprecedented, as the agreement in dispute predated the formation of Malaysia in 1963.

The FT reported that the two units, Petronas Azerbaijan (Shah Deniz) and Petronas South Caucasus, were managing Petronas’ interests in Azerbaijan and the move to seize them was due to the disputed non-payments of oil royalties.

Luxembourg seizes US$2b Petronas assets for Sulu sultan’s heirs

KUALA LUMPUR, July 12 — Authorities in Luxembourg have seized the assets of two Petronas subsidiaries on behalf of heirs of the defunct Sulu sultanate seeking to enforce an...

www.malaymail.com

 

[Nan Yang]

Malaysian assets at risk globally as heirs of sultan, who are Philippine nationals, claim US$15 billion award​

• Heirs said to be successors to Sultan of Sulu, who entered a colonial deal in 1878 with a British trading company to exploit resources in his territory​

• Lawyers say many Malaysian government-owned assets in 169 nations are eligible in order to enforce payment to heirs, who are Philippine nationals​

Reuters
Published: 9:34pm, 16 Jul, 2022

People jog in a park in Kuala Lumpur, Malaysia. The heirs of a 19th century sultan are seeking to seize Malaysian government assets around the world. File photo: AFP

The heirs of a 19th century sultanate are seeking to seize Malaysian government assets around the world in a bid to enforce a $14.9 billion arbitration award they won against the Southeast Asian nation, despite a temporary stop on the case by a French court, their lawyers told Reuters.

A French arbitration court in February had ordered Malaysia to pay the sum to the descendants of the last Sultan of Sulu to settle a dispute over a colonial-era land deal, but Malaysia said on Wednesday the Paris Court of Appeal had ‘stayed’ the ruling, after finding that enforcement of the award could infringe the country’s sovereignty.

Law minister Wan Junaidi Tuanku Jaafar said then that the stay would prevent the award from being enforced as Malaysia works to set aside the ruling. Malaysia had not previously participated in the arbitration.

Lawyers for the claimants, however, say the February ruling remains legally enforceable outside France through the New York Convention, a UN treaty on international arbitration recognised in 170 countries.

“The ‘stay’ that seems to comfort the Malaysian government temporarily delays local enforcement in one country, France itself,” said Paul Cohen, the heirs’ lead co-counsel, of London-based law firm 4-5 Gray’s Inn Square.

“It does not apply to the other 169.”

A 1957 photo showing Malaysia’s first Prime Minister Tunku Abdul Rahman (2nd L) declaring his country’s independence from British rule. Photo: via AFP

With some exceptions, such as diplomatic premises, any Malaysian government-owned asset within nations party to the UN convention is eligible for the purposes of enforcing the award, said Elisabeth Mason, another lawyer for the heirs. Wan Junaidi, the Malaysian law minister, declined to comment.

The heirs claim to be successors-in-interest to the last Sultan of Sulu, who entered a deal in 1878 with a British trading company for the exploitation of resources in territory under his control, including what is now the oil-rich Malaysian state of Sabah, on the northern tip of Borneo.

Malaysia took over the arrangement after independence from Britain, annually paying a token sum to the heirs, who are Philippine nationals.

But the payments were stopped in 2013, with Malaysia arguing that no one else had a right over Sabah, which was part of its territory.

The claimants last week moved to seize two Luxembourg-based units of Malaysian state oil firm Petronas as part of efforts to enforce the award.

A worker at a Petronas oil plant in Malaysia’s northeastern state of Terengganu. File photo: Reuters

Petronas, which has described the seizure as “baseless”, has said it will defend its legal position, adding that the units have divested their assets.

Lawyers for the heirs said the units were now under the control of bailiffs in Luxembourg, pending any appeal by Petronas against the seizure.

“We note Petronas’ description of certain transactions, and we note their statement that those transactions are complete,” Mason said.

“We will discover the full picture of all assets in due course.”

 

[Abdul Rehman Majeed]

Singapore and Philippines are fake countries from the colonial era. They should be annexed by Malaysia and Indonesia.​

 

[Song Hong]

Singapore and Philippines are fake countries from the colonial era. They should be annexed by Malaysia and Indonesia.​

Philippines has nothing to do with Malaysia and Indonesia. Malaysia and Singapore should be in Indonesia if not for the 1824 Anglo Dutch treaty.

It was Malay elites who support the status quo while Indonesian still habour aspiration to void legacy of Anglo dutch treaty.

Javanese see Malays as idiots and Malays have inferior complex vs Javanese.

 

[MH.Yang]

In fact, most of the money seized and robbed will be obtained by lawyers and Western politicians behind it. This so-called heir can only get a small part.

 

[Song Hong]

Malaysia must have offended the west. 2 x Malaysia Airlines flight downed in a short period of time and now west is fomenting Sabah independence.

No one likes Malaysia in ASEAN. Malaysia forever subvert neighbours and sponsor subversive elements within neighbours.

 

[Nan Yang]

LOL. Malaysia covertly supported Muslim rebels in Southern Philippines allowing them shelter and sanctuary. Now there are 70,000 of these refugees and they are taking over Sabah.

https://www.google.com/amp/s/amp.scmp.com/news/asia/article/1184106/malaysia-intensifies-hunt-filipino-invaders

Quote
Malaysia yesterday escalated its hunt for armed Filipino invaders who dodged a military assault meant to crush them, as a Philippine guerrilla warned more fighters had arrived.
End Quote

Looks like what Malaysia did is coming back biting.

 

[Abdul Rehman Majeed]

Philippines has nothing to do with Malaysia and Indonesia. Malaysia and Singapore should be in Indonesia if not for the 1824 Anglo Dutch treaty.

It was Malay elites who support the status quo while Indonesian still habour aspiration to void legacy of Anglo dutch treaty.

Javanese see Malays as idiots and Malays have inferior complex vs Javanese.

But Maphilindo included Malaysia, Indonesia and Philippines

Maphilindo - Wikipedia

en.wikipedia.org

 

[Nan Yang]

Chaos in Malaysian parliament after opposition MP presses house on Sulu-Petronas issue

 

[Indos]

Look like it is really serious issues, Luxemburg seize Petronas asset, unbelievable. 2 billion USD is large. So what will happen after the seize ?

Better the solution is to do voting, I mean Sabah people should choose Indonesia, Malaysia, or Philippine.........Make referendum.

How about Sulu Sultanage become Malaysian and inserted into Malaysian kingdom that comprises of several kings ? This is win win for both of them

 

[SaadH]

If anything the British should be held liable since they are the ones that signed the agreement with the Sultanate.

 

[Song Hong]

The Sulu Sultanate and the wider moros Philippines highly integrates her Chinese residence. A lot of Muslims Pinoy elites are Chinese Muslims at far higher level than Indonesia Chinese.

The fking Malay narratives that Chinese is incompatible with Islam face total reality bankruptcy. It is the Malays who who want everyone to hate one another.

Malaysia deserve to be broken up.

 

[MH.Yang]

I know Singaporeans, Indonesians and Vietnamese have some negative feelings about Malaysia. But if Malaysia falls into chaos, the whole ASEAN will be affected. No one can run away.

 

[Song Hong]

I know Singaporeans, Indonesians and Vietnamese have some negative feelings about Malaysia. But if Malaysia falls into chaos, the whole ASEAN will be affected. No one can run away.

Thai and Pinoy hate Malaysia also. Brunei does not like Malaysia as well.

Malaysia is the support of Thailand Southern insurgency.

And for Pinoy, Malay support the Moro insurgency,

Malaysia always think she is big brother of Brunei. That is why Brunei allow Singapore army to set up a base there. Brunei is forever wary that Malaysia may stir up land dispute and start annexing.

This Sulu saga is really a freak show. For many years, Malay are supporting Sulu insurgencies until these Sulu patriot started to turn on Malaysia, cursing Malaysia of occupation of Sabah,

 

[MH.Yang]

Thai and Pinoy hate Malaysia also. Brunei does not like Malaysia as well.

Malaysia is the support of Thailand Southern insurgency.

And for Pinoy, Malay support the Moro insurgency,

Malaysia always think she is big brother of Brunei. That is why Brunei allow Singapore army to set up a base there. Brunei is forever wary that Malaysia may stir up land dispute and start annexing.

This Sulu saga is really a freak show. For many years, Malay are supporting Sulu insurgencies until these Sulu patriot started to turn on Malaysia, cursing Malaysia of occupation of Sabah,

However, there are 7million Malaysian Chinese in Malaysia.