May 30, 2018 / 7:38 AM / 21 days ago

Malaysia's Petronas could pay government $2.3 billion more in taxes, dividend this year

KUALA LUMPUR (Reuters) - Malaysia may collect 8 billion ringgit to 9 billion ringgit ($2.01 billion to $2.26 billion) more in revenue from state energy firm Petronas this year compared to last year, a finance ministry official told Reuters.

Ong Kian Ming, a special officer to the finance minister, said the increase in revenue will come through corporate taxes and dividends, and that discussions on the matter are still ongoing.

With rising oil prices, Malaysia is looking to Petronas to contribute more to government coffers this year to help narrow the revenue shortfall from effectively scrapping a consumption tax, Ong told BFM radio station earlier on Wednesday.

Petronas did not immediately respond to a request for comment.

Reporting by A. Ananthalakshmi

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