Sarawakians are asking a simple question: Why should Sarawak pay RM1.8 billion to recover ownership of an asset located in Sarawak, especially when the Federal Government has administered and benefited from the port for decades?
For many years, Bintulu Port has been one of Malaysia's most strategic and profitable ports, serving the LNG industry and contributing significantly to the national economy. Throughout this period, the Federal Government collected revenue and exercised control over the port.
This raises legitimate questions that the Federal Government and the Sarawak Government should answer publicly.
First, what is the legal and financial basis for the RM1.8 billion valuation?
Has an independent valuation been conducted? If so, will it be released for public scrutiny?
Second, what capital investments made by the Federal Government remain uncompensated?
If the compensation is meant to reimburse federal expenditure, where is the detailed accounting? How much federal money was invested over the decades? How much has already been recovered through port revenues, dividends, taxes and other returns?
Without such disclosure, it is impossible for Sarawakians to know whether RM1.8 billion represents fair compensation or an unnecessary payment.
Third, why was a lump-sum payment chosen?
If compensation was genuinely justified, why was there no public explanation of alternative arrangements, phased payments or other financial structures? Why the urgency?
The public also witnessed a mock cheque being presented to the Prime Minister during the signing ceremony. While it is understood that the Prime Minister represented the Federal Government, the symbolism cannot be ignored. It reinforces the perception that Sarawak is once again paying Putrajaya for assets that many Sarawakians believe rightfully belong to the State.
This is not merely a financial issue. It concerns the relationship between Sarawak and the Federation, public accountability and respect for the rights of Sarawak under the Malaysia Agreement.
PBK therefore calls upon both governments to publish:
the complete Sale and Purchase Agreement or transfer agreement;
the independent valuation report supporting the RM1.8 billion figure;
the financial model used to determine the compensation;
the historical federal capital expenditure on Bintulu Port;
the cumulative revenues, dividends and other financial returns received by the Federal Government from the port; and
the legal opinion justifying the compensation.
Sarawakians are not opposed to fair compensation where it is legally and financially justified. However, fairness cannot exist without transparency.
Public money belongs to the people. Every sen must be properly explained.
Sarawak has contributed enormously to the nation's wealth through its oil, gas and other natural resources. When Sarawak regains control of strategic assets within its own territory, the people are entitled to know why billions of ringgit are leaving the State Treasury.
PBK believes that openness, accountability and transparency are not optional—they are fundamental obligations owed to every Sarawakian.
VOON LEE SHAN
President
Parti Bumi Kenyalang (PBK)
28 June 2026