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95-631: Brunei Shell Petroleum ( BSP ) is a joint venture between the Royal Dutch/Shell Group and government of Brunei , primarily responsible for the exploration and production of oil and liquefied natural gas (LNG). Originally known as the British Malayan Petroleum Company ( BMPC ), it was established in 1922. BSP is crucial to Brunei's economy and political landscape, particularly regarding oil development and resource management . Its establishment and growth were closely tied to

190-459: A Federation of Malaysia and the Constitution of Brunei led to a mutiny in the first part of December 1962. The PRB seeks to establish a fully democratic government for Brunei while preserving the country's monarchy, it frequently displays a lack of agreement with the government, particularly when it comes to the creation of a new constitution. Azahari has suggested to the government that 75% of

285-1013: A temporary partnership for the purpose of carrying out a particular project, such partnership can also be called a joint venture where the parties are " co-venturers ". The venture can be a business JV (for example, Dow Corning), a project/asset JV intended to pursue one specific project only, or a JV aimed at defining standards or serving as an "industry utility" that provides a narrow set of services to industry participants. Some major joint ventures include United Launch Alliance , Vevo , Hulu , Virgin Media O2 , Penske Truck Leasing , and Owens-Corning . According to Gerard Baynham of Water Street Partners, there has been much negative press about joint ventures, but objective data indicate that they may actually outperform wholly owned and controlled affiliates . He writes, "A different narrative emerged from our recent analysis of U.S. Department of Commerce (DOC) data, collected from more than 20,000 entities. According to

380-439: A 2.2 percent average ROA, while wholly owned and controlled affiliates in the U.S. only realized a 0.7 percent ROA." In European law , the term "joint venture" is an exclusive legal concept, better defined under the rules of company law . In France , the term "joint venture" is variously translated as "association d'entreprises", "entreprise conjointe", "coentreprise" or "entreprise commune". A JV can be brought about in

475-625: A 4.5 kilometres (2.8 mi) dock with stainless steel tubes for gas transportation and a unique water purification system. With the exception of the Gurkha security forces, the enterprise requires a significant amount of finance and employs around 100 individuals. BSM was founded in 1974 to distribute oil and gas products within Brunei and is jointly owned by the government and Shell, with its headquarters located in Bandar Seri Begawan. The company offers

570-607: A North Borneo nation-state as a substitute for Greater Malaysia , which was in fact supported by the people, after BNO and BUP suffered a resounding defeat. The North Kalimantan National Army (TNKU), an armed wing of the PRB that won the election, was founded earlier. In order to create the NKKU and establish Brunei's independence, the TNKU began the Brunei revolt on 8 December 1962. Their primary objective

665-517: A company. By its formation, the JV becomes a new entity with the implications that: On the receipt of the Certificate of Incorporation, a company can commence its business. This is a legal area and is fraught with difficulty as the laws of countries differ, particularly on the enforceability of "heads of" or shareholder agreements. For some legal reasons, it may be called a Memorandum of Understanding . It

760-558: A constitution that would unite Brunei, North Borneo , and Sarawak under a fully democratic government , the Unitary State of North Kalimantan or Negara Kesatuan Kalimantan Utara (NKKU). However, in 1958 the British publicised their own ideas and rejected the Borneo union ambitions of the PRB, seeking instead for a gradual democratic transformation. The PRB's reactions to both the plan for

855-522: A nation-state establishment. Despite receiving license for registration, the PRB was prohibited from operating and conducting campaigns without government oversight since uncontrolled movements may jeopardise Brunei's peace and prosperity. The PRB attracted a varied membership by promising a better political and socioeconomic system , even after the government warned the people about the party's impact. This broad support demonstrated that Azahari's nationalist plan included all of British Borneo , demonstrating

950-504: A near-monopoly despite the existence of competing businesses including Jasra-ELF (previously Jasra Jackson), Sunray Borneo Oil Company, Superior Oil , Clark Brunei Oil, and Woods Petroleum. As its interest in the oil and gas industry grew, the Bruneian government purchased a 25% share in BSP in 1973. The government's role in the sector was further cemented in 1985 when this share rose to 50%. BSP

1045-419: A new market, particularly emerging market ; to gain scale efficiencies by combining assets and operations; to share risk for major investments or projects; or to access skills and capabilities. Most joint ventures are incorporated, although some, as in the oil and gas industry , are "unincorporated" joint ventures that mimic a corporate entity. With individuals, when two or more persons come together to form

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1140-485: A principal disadvantage is absence of an interested and influential Chinese party. As of the 3rd Quarter of 2004, WFOEs had replaced EJVs and CJVs as follows: (*)=Financial Vventures by EJVs/CJVs (**)=Approved JVs These enterprises are formed under the Sino-Foreign Investment Act. The capital is composed of value of stock in exchange for the value of the property given to the enterprise. The liability of

1235-459: A shipment to Japan, initially managed by BST for three decades. The first four carriers were delivered between October 1972 and October 1975, with a maximum storage capacity of 77,731 cubic metres (2,745,000 cu ft). The seven French-built LNG carriers were Bebatik , Bekalang , Bekulan , Belais , Belanak , Bilis and Bubuk . Once BST was established in 1986, they went on to operate these ships. Brunei Gas Carriers (BGC)

1330-458: A variety of products, including gasoline , aviation fuel , diesel oil , lubricants, butane gas cylinders , and certain chemical products like insecticides and detergents. Holding a monopoly on petroleum sales in the state, BSM has experienced significant sales growth, particularly as the number of motor vehicles in Brunei has risen. The company operates 21 petrol stations across the country, all supplied by its network, with fuel prices regulated by

1425-585: Is a joint venture consisting of 25% BSP, 25% Mitsubishi Corporation , and 50% Bruneian government. In a similar vein, the Bruneian government owns 50% of BCG, which was established in 1977 to manage LNG marketing, while BSP and Mitsubishi each control a third. Last but not least, the BST, which was founded in December 1986 and is equally owned by the BSP and the Bruneian government, manages the shipping of LNG to Japan. The history of Bruneian LNG deliveries began in 1972 with

1520-476: Is a conglomerate comprising five businesses as of 1997. Exploration and production of oil and LNG are handled by the primary business, BSP. Brunei Shell Marketing, formed in 1974, focuses on selling oil and gas products within Brunei, with ownership equally divided between the Brunei government and BSP. The LNG trade with Japan is the main activity of the other three businesses, Brunei Shell Tankers (BST), Brunei Coldgas (BCG), and Brunei LNG . Established in 1969, BLNG

1615-404: Is allowed to enter into contracts with appropriate government authorities to acquire land use rights, rent buildings, and receive utility services. In this it is more similar to a CJV than an EJV. WFOEs are expected by PRC to use the most modern technologies and to export at least 50% of their production, with all of the investment is to be wholly provided by the foreign investor and the enterprise

1710-476: Is close to Miri , the PRB delegation was received by the SLL delegates. The representatives of the PRB asserted that since the British colonial authority had refused them any lawful avenues for protest and had already sent their forces to Brunei, they were left with no choice but to employ force. The PRB resorted to violent conflict in response to the British colonial government's disregard for its mission, which resulted in

1805-592: Is described below. The EJV Law is between a Chinese partner and a foreign company. It is incorporated in both Chinese (official) and in English (with equal validity), with limited liability. Prior to China's entry into WTO – and thus the WFOEs – EJVs predominated. In the EJV mode, the partners share profits, losses, and risk in equal proportion to their respective contributions to the venture's registered capital. These escalate upwardly in

1900-465: Is done in parallel with other activities in forming a JV. Though dealt with briefly for a shareholders' agreement , some issues must be dealt with here as a preamble to the discussion that follows. There are also many issues which are not in the Articles when a company starts up or never ever present. Also, a JV may elect to stay as a JV alone in a "quasi partnership" to avoid any nonessential disclosure to

1995-584: Is expected to assume some responsibilities from the Petroleum Unit, including determining output levels and granting concession rights. On 20 July 1922, the British Malayan Petroleum Company was established under the Royal Dutch-Shell group and registered as a business in the United Kingdom. The Asiatic Petroleum Company and Shell's Anglo-Saxon Petroleum Company sold oil-prospecting concessions to

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2090-459: Is in fact fundamentally related to the survival of its internal political structure might not find the "assurance" offered by that physically vast neighbor entirely comforting. What appears to be significant is that Zaini retained some of his natural optimism about the chances of bringing about a more democratic transition in Brunei during the years of struggle-in-exile, when he served as Sheikh Azahari's effective replacement as head of Indonesia. It

2185-577: Is thought that PRB is still active in exile today, albeit it is probably inactive. On 12 September 2005, former political prisoner. and Secretary General of PRB, Yassin, co-founded the National Development Party (NDP). The TNKU was formed in August 1960 at the residence of A. M. Azahari's father in Kampong Padang , near Brunei Town. This underground military wing of the PRB was established in

2280-464: Is what will happen if the firm is dissolved, if one of the partners dies, or if the firm is sold. Often, the most successful JVs are those with 50:50 partnership with each party having the same number of directors but rotating control over the firm, or rights to appoint the Chairperson and Vice-chair of the company. Sometimes a party may give a separate trusted person to vote in its place proxy vote of

2375-505: Is within his total control. WFOEs are typically limited liability enterprises. Like with EJVs, but the liability of the directors, managers, advisers, and suppliers depends on the rules which govern the Departments or Ministries which control product liability, worker safety or environmental protection. An advantage the WFOE enjoys over its alternates is enhanced protection of its know-how but

2470-552: The Parti Rakyat Brunei (PRB), the country's first officially recognised political party, on 21 or 22 January 1956, as an offshoot of the Malayan People's Party . On 15 August, the party finally registered and received legal status, provided that it limited its operations to Brunei. In addition to fighting for independence for the entire archipelago and preserving Sultan Omar Ali Saifuddien III 's position by establishing

2565-565: The Brunei revolt on 8 December 1962. The primary leaders of the PRB were either arrested or fled to neighbouring countries, especially Indonesia, and there hasn't been enough analysis done on the links between this rebellion and the armed fight in Sarawak. Within days of the Sultan declaring a state of emergency , Singaporean British troops from the British Far East Command put an end to

2660-685: The Legislative Council of Brunei (LegCo) members should be elected independently rather than chosen by the Sultan in order to demand that the people of Brunei have complete democracy in their governance. Muhammad bin Haji Manggol spearheaded an underground campaign in Temburong District in October 1953, but the government put an end to it, and Muhammad and his allies were arrested for trying to topple British control. The protest that followed and

2755-481: The North Borneo Federation , the anti-colonialism ideology of the party intended included political, economic, and social ones. PRB aimed to create a sovereign, democratic Malay nation free from British influence that ensures the security and well-being of its citizens under a monarchy. The majority of its members were non-aristocratic Malay people who were against both monarchy and colonial authority. As

2850-619: The Seria Energy Lab in 2002, the BSP Flagship Solar Plant in 2021, and the Brunei Energy Hub in 2023 are just a few of the community projects that BSP has undertaken and sponsored. The Brunei Shell Joint Venture (BSJV) Scholarship Scheme, established in 1972, has provided educational sponsorships to over 800 students. The scheme aims to identify talented young Bruneians with the qualifications and potential needed to support

2945-450: The Sultan of Brunei 's decisions, as BSP provided essential insights into oil discoveries that influenced the Sultan's stance on joining Malaysia, thereby shaping the country's economic and political independence . Due to a lack of personnel, Brunei does not want to create a state oil corporation; nevertheless, the government does intend to raise its stake in BSP and solidify its influence over

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3040-699: The United Nations (UN). However, his objectives were lessened as regional diplomatic connections strengthened and ASEAN was formed following the end of Konfrontasi . From an operation headed by Sheikh Saleh Sheikh Mahmud, the nephew and brother of Azahari, Zaini and six other senior PRB detainees from the Berakas Detention Camp, including Yassin Affandi , managed to escape by sea to nearby Limbang in Sarawak on 12 July 1973, Sultan Omar Ali Saifuddien III's birthday. According to reports, Ghazali Shafie , who

3135-476: The World Trade Organization (WTO) around 2001 has had profound effects on foreign investment. Not being a JV, they are considered here only in comparison or contrast. To implement WTO commitments, China publishes from time to time updated versions of its "Catalogs Investments" (affecting ventures) prohibited, restricted. The WFOE is a Chinese legal person and has to obey all Chinese laws. As such, it

3230-562: The energy industry . The Petroleum Unit, a division of the Prime Minister's Office , plays a crucial role in formulating policies for production, conservation, and pricing, while also overseeing Brunei Shell companies through board participation. In early 1993, a new government body, the Brunei Oil and Gas Authority, was created, headed by the Minister of Finance and Economy . This organisation

3325-450: The "constitution" of a company in these countries. The articles of association regulate the interaction between shareholders and the directors of a company and can be a lengthy document of up to 700,000 or so pages. It deals with the powers relegated by the stockholders to the directors and those withheld by them, requiring the passing of ordinary resolutions , special resolutions and the holding of Extraordinary General Meetings to bring

3420-474: The 1959 constitution was enacted, Brunei's politics seemed stable, but the idea brought in fresh waves of disruption in the early 1960s. Tunku Abdul Rahman , invited Brunei, Sabah, Sarawak, and Singapore to join the planned Federation of Malaysia on 27 May 1961. Based on common lineage, culture, and sociopolitical structures, he proposed this union, reasoning that it would provide political, economic, and security advantages while reducing Communist influence in

3515-452: The 1962 Brunei revolt, BSP oil installations were the focus of the TNKU rebels' coordinated attacks on government buildings and police stations around the protectorate and in the oil town of Seria. The BSP traded in earlier, less fruitful concessions in order to get new ones in 1963. About 4,000 square kilometres (1,500 sq mi) of the continental shelf and an extra 680 square kilometres of

3610-870: The Anglo-Saxon Petroleum Company in the Tutong District was renewed in November 1922 under the new name of the BMPC. Later, on 28 July 1923, an agreement was made for the BMPC to acquire the British Borneo Petroleum Syndicate's Belait District properties. The BMPC carried out an aerial reconnaissance on 9 March 1925, and neither the Sarawakian nor Bruneian governments objected to the plan. After encountering difficulties in Labi, BMPC shifted its focus to

3705-454: The Asia-Pacific region. Established in 1998, BGC has successfully transported over 7,000 LNG cargoes to global markets. BGC has successfully completed over 7,000 LNG cargo deliveries, earning a stellar safety record and establishing itself as a dependable player in the global LNG market. In 1969, the government, Shell, and Mitsubishi Corporation formed Brunei LNG as a joint venture. Over time,

3800-624: The BMPC the same year, giving the BMPC broad mining and prospecting rights in Brunei. Shell gained nearly monopolistic control over oil exploration in Borneo as a result of the arrangement, which saw the BMPC pay a royalty of two shillings per ton (or 10% in kind) to the Bruneian government and another shilling to the British Borneo Petroleum Syndicate. In 1922, BMPC began oil exploration in Labi , Brunei, where previous attempts by other companies had failed to yield significant results. The prospecting license of

3895-456: The DOC data, foreign joint ventures of U.S. companies realized a 5.5 percent average return on assets (ROA), while those companies' wholly owned and controlled affiliates (the vast majority of which are wholly owned) realized a slightly lower 5.2 percent ROA. The same story holds true for investments by foreign companies in the U.S., but the difference is more pronounced. U.S.-based joint ventures realized

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3990-626: The Founder at board meetings. Recently, in a major case the Indian Supreme Court has held that Memorandums of Understanding (whose details are not in the articles of association) are "unconstitutional" giving more transparency to undertakings. A JV is not a permanent structure. It can be dissolved when: Joint ventures are risky forms of business partnerships . Literature in business and management has paid attention to different factors of conflict and opportunism in joint ventures, in particular

4085-459: The JV's life, giving the option to the foreign investor, by holding higher equity, obtains a faster rate of return with the concurrent wish of the Chinese partner of a later larger role of maintaining long-term control. The parties in any of the ventures, EJV, CJV or WFOE prepare a feasibility study outlined above. It is a non-binding document – the parties are still free to choose not to proceed with

4180-750: The Malaysian government as soon as they arrived, according to a report released by Utusan Malaysia on the 27. In December 1973, an ad hoc committee for the Independence of Brunei was established in Kuala Lumpur . Subsequently, on 7 May 1974, the PRB was formally reactivated with the naming of an executive committee with Azahari as president. It primarily aimed at the intention of pressuring "friendly" states and international organizations to put pressure on Brunei to implement political changes in order to introduce representative government. For instance, Mahmud Saedon

4275-484: The PRB to first meet with the Sultan, Brunei's legal authority, thus the delegation returned empty-handed. After returning, the PRB delegates attempted to hide their own shortcomings by accusing the British of not meeting their requests. As a result, several Bruneians lost faith in the trustworthiness of the PRB and its officials. The party's defeat has been impacted by this meaningless agreement not just in terms of political morality but also financially because it paid for

4370-419: The PRB was able to enlist 16,000 members in 1957, representing a variety of races in Brunei, North Borneo , and Sarawak . Encouraged by this backing, Azahari vehemently denounced the Sultan's incremental changes, calling for complete democracy and denouncing the 1959 Constitution of Brunei as inadequate for establishing a democratic society. The rise of the PRB presented a threat to the Sultan's plans for

4465-520: The PRB was an offshoot of the Ahmad Boestamam -led Malayan People's Party, the government of Brunei initially refused to approve its registration. The PRB broke up relations with the Malayan People's Party and updated its policy rules to better suit Brunei's requirements in order to comply with Bruneian legal standards. With the public's backing thanks to Azahari's convincing speeches and arguments,

4560-455: The PRB's substantial influence over the area. The PRB asked Burhanuddin al-Helmy and Boestamam to speak at its first congress on 30 March 1957, and its second congress on 30 March 1958, to motivate the people's fight for Brunei's independence. Nonetheless, Azahari criticised the government for attempting to bar these prominent Malayan politicians from attending, charging that they were planning to keep Brunei under British colonial rule. The PRB

4655-566: The Seria oil field were included in these new concessions. The sultan of Brunei's decision to refrain from joining Malaysia in 1963 was primarily due to unresolved issues regarding the future of Brunei's oil economy with the Federation of Malaya . The BSP played a role in this decision by informing the Sultan of a significant oil discovery, cautioning that joining Malaysia could jeopardise Brunei's control over its oil resources. In 1966, concerns arose that

4750-504: The Shell agreement, Brunei continued to cover the battalion's expenses, making it more economical for Britain to sustain their presence in Brunei. When oil prices started to decline in 1985, Japanese customers lost faith in Brunei's long-term contract and demanded a review of the agreement. As of 1997, BSP has 10,107 square kilometres of concession land, of which 73% is used for offshore activities. In oil exploration and production, BSP maintains

4845-539: The Sultan might retaliate against British actions by denying concessions to Shell and withdrawing sterling reserves from the Bank of England . During this period, the British government benefited from substantial profits from BSP, while Brunei held significant reserves in London . In 1968, BSP obtained a further offshore concession that included 298 square kilometres close to Labi and 3,735 square kilometres, some of which extended beyond

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4940-632: The Sultan's authority. Brunei attained independence in 1984. However, since then, the state of emergency has been repeatedly extended, and Brunei commemorated its 50th year under emergency government in 2012. Following the defeat, Azahari escaped to Jakarta , where he remained in Bogor , West Java , when President Sukarno gave him shelter in 1963. After the failed uprising, he and his associates created an exile government with help from Malaysia and Indonesia. Relations between Brunei and Malaysia were tight since, until about 1975, Malaysia had backed his case at

5035-618: The Tutong District, where recruits received military instruction from Pudin Ladi, Abdullah Jahfar, and Jais Haji Kiram. Following this initial training, a group of 40 recruits was sent for further instruction at Merapok, located on the border of Sabah and East Kalimantan , under the guidance of the Indonesian National Army . Before the outbreak of the 1962 Brunei revolt, Azahari claimed the TNKU had approximately 30,000 members, although

5130-528: The US) covering know-how and trademarks and supply-of-equipment agreements. The minimum equity is prescribed for investment truncated, where the foreign equity and debt levels are: There are also intermediary levels. The foreign investment in the total project must be at least 25%. No minimum investment is set for the Chinese partner. The timing of investments must be mentioned in the Agreement and failure to invest in

5225-506: The area between the Seria and Bera rivers, where it successfully struck large oil deposits, now known as the Seria oil field , in April 1929. By 1949, BMPC had expanded its exploration efforts to include Brunei Town (now Bandar Seri Begawan ), Tutong , and the areas between Seria and Labi. Offshore exploration began in 1952 as production in Seria and Jerudong stabilised. The Brunei Shell Petroleum

5320-646: The area. Furthermore, he asserted that the states that joined Malaysia would become fully independent of British sovereignty faster. As several PRB leaders quit to create other parties due to a lack of faith in their ability to govern, Brunei's political landscape grew increasingly complicated. As a result, the Brunei United Party (BUP) was founded in December 1961 and the Brunei National Party (BNO) in August 1960. On 30 August 1962, Brunei conducted its first district council election amid negotiations over

5415-473: The capital. In addition to significantly boosting Brunei's economy through oil production, the BMPC played a crucial role in developing infrastructure in the Belait District , particularly in Seria and Kuala Belait . Like its predecessor, the BSP remains vital to the growth of the Bruneian economy. Shell not only contributes to the nation’s revenue but is also the second-largest employer in Brunei, following

5510-461: The cases, the status of the formed enterprise is that of a legal Chinese person which can hire labor directly as, for example, a Chinese national contactor. The minimum of the capital is registered at various levels of investment. Other differences from the EJV are to be noted: Convenience and flexibility are the characteristics of this type of investment. It is therefore easier to find co-operative partners and to reach an agreement. With changes in

5605-493: The continental shelf. In order to maintain its position as Brunei's top concessionaire, BSP acquired an extra 3,530 square kilometres of offshore concessions by 1981. In 1975, the Brunei government established a 50-50 shareholding arrangement with the Royal Dutch Shell Group for the exploitation of Brunei's resources. Fears from the British government regarding Brunei's potential withdrawal from this agreement prompted

5700-560: The country's growth. It offers scholarships for students pursuing undergraduate studies after completing their A-levels or the International Baccalaureate Diploma. Citations Sources Joint venture A joint venture ( JV ) is a business entity created by two or more parties, generally characterized by shared ownership , shared returns and risks , and shared governance. Companies typically pursue joint ventures for one of four reasons: to access

5795-618: The death of Mao Zedong in 1976, initiatives in foreign trade began to be applied, and law applicable to foreign direct investment was made clear in 1979, while the first Sino-foreign equity venture took place in 2001. The corpus of the law has improved since then. Companies with foreign partners can carry out manufacturing and sales operations in China and can sell through their own sales network. Foreign-Sino companies have export rights which are not available to wholly Chinese companies, as China desires to import foreign technology by encouraging JVs and

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5890-539: The decision to keep the British Gurkha battalion stationed in Brunei until 1983, even after the country gained independence in 1984. The British Ministry of Defence acknowledged that the Gurkhas not only provided essential security for Shell's personnel and installations but also offered valuable training opportunities for British officers. While the Brunei government denied any direct link between defence negotiations and

5985-512: The delegation's trip to London. It is said that Azahari resigned as party leader when the PRB delegation in London failed, citing his refusal to present the PRB's financial information that was utilised. But he eventually withdrew this resignation, citing the continued necessity for his leadership. Zaini Ahmad brought himself to pursue his education in the UK while working as his secretary. On 29 September 1959,

6080-490: The denial of Brunei Film Production Company's (BRUFICO) registration served as a stark reminder of this discontent and signaled the start of Brunei's nationalist movement . As a result of these developments, Azahari was able to establish the PRB, which was inspired by the Indonesian National Revolution and aimed to steer Brunei toward independence. With the help of Salleh Masri , A. M. Azahari established

6175-400: The directors' decision to bear. A Certificate of Incorporation or the Articles of Incorporation is a document required to form a corporation in the U.S. (in actuality, the state where it is incorporated) and in countries following the practice. In the US, the "constitution" is a single document. The Articles of Incorporation is again a regulation of the directors by the stock-holders in

6270-424: The following major ways: In the UK , India , and in many common law countries, a joint-venture (or else a company formed by a group of individuals) must file its memorandum of association with the appropriate authority. This is a statutory document which informs the public of its existence. It may be viewed by the public at the office in which it is filed. Together with the articles of association , it forms

6365-488: The formation of Malaysia. With the exception of Labu in the Temburong District , which was won by an independent candidate, the PRB secured 54 of the 55 seats in the District Assembly, demonstrating strong backing for Brunei's decision to refuse membership in Malaysia. The lone non-PRB councillor joined the PRB a week after the election, and 16 of the 55 District Councillors went on to become LegCo members, numbering 33. The PRB leaders were reaffirmed in their goal of creating

6460-427: The government increased its stake to 50%. The construction and operation of the Lumut LNG facility, which was finished in 1973, was the company's primary objective in order to export LNG to Japan. The facility, which was built with assistance from Brunei Shell, Air Products and Chemicals , and Nippon LNG KK, is an example of transnational cooperation. It was constructed at an estimated cost of B$ 600 million and includes

6555-423: The government or the public. Some of the issues in a shareholders' agreement are: There are many features which have to be incorporated into the shareholders' agreement which is quite private to the parties as they start off. Normally, it requires noтуОЧ submission to any authority. The other basic document which must be articulated is the Articles, which is a published document and known to members. This repeats

6650-415: The government sector. As a result, Brunei is often referred to as a "Shell State" because of its robust economic position and the close relationship between the government and Shell. The Brunei Shell Recreation Club was established in 1946, the Kuala Belalong Fields Studies Centre in 1991, the Billionth Barrel Monument in 1991, the Anduki Recreation Park in 1992, the Outward Bound Brunei Darussalam in 1993,

6745-451: The government to remain low by international standards. High-octane petrol and diesel are imported from Singapore and stored in tanks at the Muara Port , which also supplies oil and petrol to riverine stations along the Brunei River and Temburong River . Additionally, Brunei Shell Marketing provides aviation fuels for the international airport in Bandar Seri Begawan and fuels for the main electricity generating plant located in Gadong , near

6840-547: The indicated time, draws a penalty. Co-operative Joint Ventures (CJVs) are permitted under the Sino-Foreign Co-operative Joint Ventures. Co-operative enterprises are also called Contractual Operative Enterprises. The CJVs may have a limited structure or unlimited – therefore, there are two versions. The limited-liability version is similar to the EJVs in status of permissions – the foreign investor provides

6935-583: The influence of parent control structure, ownership change, and volatile environment. Government procurement regulations, such as the Federal Acquisition Regulation (FAR) in the United States, may specify how joint ventures are to be approached as suppliers or confirm that a joint venture or other form of contractor partnering is seen as a "desirable" arrangement for supplying to government. The FAR states that The Government will recognize

7030-405: The integrity and validity of contractor team arrangements [including joint ventures], provided the arrangements are identified and company relationships are fully disclosed in an offer or, for arrangements entered into after submission of an offer, before the arrangement becomes effective. The Government will not normally require or encourage the dissolution of contractor team arrangements. Under

7125-705: The latest technologies. Under Chinese law, foreign enterprises are divided into several basic categories. Of these, five will be described or mentioned here: three relate to industry and services and two as vehicles for foreign investment. Those five categories of Chinese foreign enterprises are: the Sino-Foreign Equity Joint Ventures (EJVs), Sino-Foreign Co-operative Joint Ventures (CJVs), Wholly Foreign-Owned Enterprises (WFOE), although they do not strictly belong to Joint Ventures, plus foreign investment companies limited by shares (FICLBS), and Investment Companies through Foreign Investors (ICFI). Each category

7220-477: The law, it becomes possible to merge with a Chinese company for a quick start. A foreign investor does not need to set up a new corporation in China. Instead, the investor uses the Chinese partner's business license, under a contractual arrangement. However, under the CJV, the land stays in the possession of the Chinese partner. There is another advantage: the percentage of the CJV owned by each partner can change throughout

7315-402: The majority of funds and technology and the Chinese party provides land, buildings, equipment, etc. However, there are no minimum limits on the foreign partner which allows him to be a minority shareholder. The other format of the CJV is similar to a partnership where the parties jointly incur unlimited liability for the debts of the enterprise with no separate legal person being created. In both

7410-600: The new Written Constitution of the State of Brunei was signed and proclaimed following many rounds of negotiations between the Bruneian government and the British government in London and Brunei from 1957 to 1959. The Bruneian government was represented by the Sultan, while the British government was represented by Robert Heatlie Scott . By abolishing the 1906 Agreement and creating the position of British High Commissioner in place of British Resident , this constitution limited British authority to defence and foreign relations. After

7505-509: The new legislation, and Sultan Omar Ali Saifuddien III approved the inclusion of the name "Brunei" in the company's name. Furthermore, given the company's strong ties with the Royal Dutch-Shell Group, it was important to incorporate "Shell" to highlight its connection to the global operations of Royal Dutch-Shell. Its exploration area extended from Seria to Labi, Tutong, and Brunei Town after BSP assumed operations from BMPC. During

7600-512: The precise number was never substantiated. In the wake of the revolt, only 2,063 members were arrested. A pivotal meeting held in early December 1962 at Kampong Padang culminated in a decision to initiate an armed struggle, which Azahari sanctioned on 5 December. This decision was fueled by increasing impatience among recruits and the recent arrests of TNKU members in Sundar, Sarawak, who disclosed information about their activities during interrogations. As

7695-571: The presence of PRB leaders, with Sheikh Othman, Azahari's brother, appointed as brigadier general of the TNKU. In March 1962, a war committee was convened to focus on recruitment and military training, consisting of members such as Sheikh Othman, Jais Haji Kiram, Mesir Keruddin, Jassin Affandy, Abdullah Jahfar, Mayor Mumin Ahmad, and Haji Yusuf Tamit. One of the early training sites was in Kampong Kilanas in

7790-471: The project. The feasibility study must cover the fundamental technical and commercial aspects of the project, before the parties can proceed to formalize the necessary legal documentation. The study should contain details referred to earlier under Feasibility Study (submissions by the Chinese partner). There is basic law of the PRC concerning enterprises with sole foreign investment controls, WFOEs. China's entry into

7885-807: The projected NKKU. He was in Manila in support of the Malaysia Agreement during the Azahari visit to the UN Headquarters in New York City when the Brunei uprising started in 1962. Half a year before the rebellion, in April or May 1962, the PRB asked the Sarawak Liberation League (SLL) to send a delegation in secret to discuss the political situation in North Kalimantan . At Canada Hill, which

7980-531: The rules applicable to public procurement in the European Union , public bodies may insist that suppliers intending to provide goods and services through a joint partnership accept joint liability for the execution of the contract. According to a 2003 report of the United Nations Conference on Trade and Development , China was the recipient of US$ 53.5 billion in direct foreign investment, making it

8075-440: The same proportion as the increase in registered capital. The JV contract accompanied by the articles of association for the EJV are the two most fundamental legal documents of the project. The Articles mirror many of the provisions of the JV contract. In case of conflict the JV document has precedence. These documents are prepared at the same time as the feasibility report. There are also the ancillary documents (termed "offsets" in

8170-435: The shareholders agreement as to the number of directors each founder can appoint to the board of directors; whether the board controls or the founders; the taking of decisions by simple majority (50%+1) of those present or a 51% or 75% majority with all directors present (their alternates/ proxy ); the deployment of funds of the firm; extent of debt; the proportion of profit that can be declared as dividends; etc. Also significant

8265-469: The shareholders, including debt, is equal to the number of shares purchased by each partner. Brunei People%27s Party Brunei People's Party ( BPR ), also known as Parti Rakyat Brunei ( PRB ), is a banned political party in Brunei . The party was established as a left-wing party in 1956 and aimed to bring Brunei into full independence from the United Kingdom . The party called for

8360-507: The uprising. The leaders were detained or exiled from once the PRB was outlawed. Even though it doesn't appear that any PRB personnel trained with the Sarawak youths in Indonesian territory, their political collaboration persisted. The LegCo was disbanded on 19 December 1962, and an Emergency Council took its place. The LegCo was placed under suspension in 2004 but was later reopened following additional constitutional modifications that increased

8455-471: The world's largest recipient of direct foreign investment for the first time, to exceed the US. Also, it approved the establishment of nearly 500,000 foreign-investment enterprises. The US had 45,000 projects by 2004 with an in-place investment of over 48 billion. Until recently, no guidelines existed on how foreign investment was to be handled due to the restrictive nature of China toward foreign investors. Following

8550-504: Was Malaysia's Minister of Foreign Affairs at the time, secretly encouraged the escape because of the Sultan's 1963 rejection to join the Federation of Malaysia and Brunei's treatment of Malaysian public staff. This backing for the release of Zaini and others probably acted as a message to the Sultan to change his policies or else suffer the repercussions. Ten Bruneians, including Zaini, who had fled to Malaysia were granted political asylum by

8645-620: Was a strong force in Brunei's political landscape, but the government was unwavering in its refusal to compromise. The PRB quickly sent a delegation of its own to intercept the government group that was scheduled to go to London to draft a new Written Constitution for Brunei. Seeking approval for its political demands and recommendations, the PRB team met with the Secretary of State for the Colonies in London on 5 September 1957. The British demanded that all requests follow established protocols, forcing

8740-528: Was established in 1998, and made its first delivery in 2002. BGC gradually replacing BST with a more modern approach to LNG transportation, including the introduction of the French-built A-Class vessels and opportunities for Bruneian seafarers' development. BGC currently operates four A-Class vessels— Amadi , Amani , Amali , and Arkat —each with capacities between 147,000 m³ and 154,800 m³, consistently delivering LNG to international clients, especially in

8835-477: Was reorganised and registered in Brunei in 1957 following the implementation of the Brunei Companies Enactment on 1 January of that year. On 15 March 1957, it officially took over operations from its sister company, the BMPC. The new name was chosen to reflect the growing scope of oil development, particularly on Brunei’s continental shelf. It was felt that a new company should align with the state under

8930-564: Was tasked with lobbying the Indonesian government and reestablishing the party's ties with the Afro-Asian Peoples' Solidarity Organization (AAPSO). Even though the leadership of Malaysia had provided the PRB (including its second-in-command Zaini) with permanent refuge in Kuala Lumpur and even supported their anti-colonial stance at the UN, a microstate whose leaders' understanding of "security"

9025-711: Was to seize control of the Police Headquarters, Istana Darul Hana , and the Menteri Besar 's house in Brunei Town. They planned to persuade the Sultan, if they were successful in detaining him, to proclaim the creation of an independent NKKU and designate him as the head of state , or Seri Mahkota . The three most important posts in the new nation-state's government—Prime Minister, Minister of Defence, and Minister of Foreign Affairs—would fall to Azahari. Azahari appointed him Minister of Economics, Commerce, and Industry of

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