by admin | Jul 22, 2024 | News & Event
SEC Pays Courtesy Visit to SPRM Sabah
A delegation from Sabah Energy Corporation (SEC), led by CEO Datuk Adzmir Abd Rahman, Deputy CEO/COO Hj Ir. Ahmad Jafar and other divisional heads recently visited the Malaysian Anti-Corruption Commission (SPRM) Sabah office at the Kompleks Pentadbiran Kerajaan Persekutuan Negeri Sabah.
The SPRM Sabah Director, Datuk Karunanithy Y. Subbiah welcomed the delegation, which was joined by Deputy Director (Prevention) Tuan Alexander Kunghi and other SPRM officers.
The visit served multiple purposes. Firstly, it provided SEC with the opportunity to introduce its portfolio and group of companies to SPRM Sabah. Additionally, it allowed the SEC to present its ongoing efforts to uphold the highest standards of integrity and governance, which are fundamental values in the corporate sector.
On their part, SPRM Sabah took this opportunity to brief the SEC delegation on their latest initiatives aimed at promoting good governance and combating corruption across Malaysia.
The meeting concluded with both parties expressing a strong commitment to exploring potential collaborations, particularly in the area of Corporate Social Responsibility (CSR) programs for the benefit of the community as a whole.
by admin | Jul 22, 2024 | CSR Activities
SEC is proud to announce the launch of its Skill Enhancement & Career Advancement (SECA) program, a Corporate Social Responsibility (CSR) initiative designed to tackle graduate unemployment by offering practical training and skill enhancement opportunities within SEC. This innovative program will select and train ten unemployed graduates over six months.
In partnership with Universiti Malaysia Sabah (UMS) and the Institut Latihan Perindustrian Labuan (ILP Labuan), five outstanding graduates from each institution have been carefully chosen to participate in this program. The selection criteria focused on candidates from underprivileged families, including the B40 group, with a CGPA of 3.50 and above.
In a simple ceremony held at UMS on 22 July 2024, SEC’s delegation led by the Head of Human Resources & Administration, Puan Dayang Kamariah binti Datu Bistari presented the offer letter to five UMS graduates and witnessed by the Director of UMS’s Pusat Kerjaya dan Pembangunan Keusahawanan Pelajar, Profesor Madya Ts. Dr. Sidah binti Idris. A similar event occurred on 18 July in Labuan, where five ILP Labuan graduates received their offer letters from the SEC.
The six-month SECA program offers participants a competitive monthly allowance to ensure financial stability during training. Participants will receive hands-on industry training within SEC, focusing on technical proficiency, practical skill development, and soft skills enhancement. Each trainee will be paired with a mentor for guidance and support.
Exceptional performers may be integrated into SEC’s workforce, providing a pathway to long-term employment. Regular assessments will monitor progress and ensure continuous program improvement.
SEC’s SECA initiative aligns seamlessly with the state government’s efforts to combat hardcore poverty by creating meaningful employment opportunities and advancing human capital development. This reaffirms SEC’s commitment to community betterment and economic empowerment, inspiring hope for a brighter future.
by admin | Jul 10, 2024 | News & Event
Sabah Energy Corporation Delivers RM14 Million Dividend to Sabah State Government
KOTA KINABALU: Sabah Energy Corporation Sdn. Bhd. (SEC) has paid the Sabah State Government a dividend of RM14 million for the financial year that ended 31 December 2023.
The Chief Executive Officer of SEC, Datuk Adzmir Abd Rahman, presented the dividend payment to the Permanent Secretary of the Ministry of Finance (MOF), Datuk Sofian Alfian Nair. The ceremony was witnessed by the Chief Minister of Sabah, YAB Datuk Seri Panglima Haji Hajiji bin Haji Noor; the State Secretary, YB Datuk Seri Panglima Sr. Safar Untong, SEC Chairman, YB Datuk Annuar Ayub, SEC Deputy Chairman, YB Datuk Hassan A. Gani, SEC COO, Ir. Hj Ahmad Jafar, and Deputy Permanent Secretary of MOF, Puan Anthea James. The event took place at the Sabah State Assembly.
At the ceremony, Datuk Adzmir said that SEC and its group of companies achieved a pre-tax profit of RM46.35 million in 2023, an increase from RM39.8 million in 2022. SEC’s standalone profit before tax reached RM34.4 million, representing a significant 56% increase compared to last year’s profit. Additionally, its wholly owned subsidiary, Asian Supply Base Sdn. Bhd. (ASB), reported a pre-tax profit of RM19.5 million.
Datuk Adzmir additionally noted that from an initial State Government paid-up capital of RM299.9 million, the accumulated profits after continuous reinvestments have grown the Shareholders’ Fund to exceed RM1 billion by the end of 2023. As of now, the SEC has contributed a total of RM255.5 million in dividends to the Government
SEC is playing a major role in the state’s industrial and economic growth as it fuels 86% of the state’s electricity needs. According to Datuk Adzmir, SEC is committed to enhancing its business operations and profitability in the energy sector, and it has ventured into renewable energy productions, such as large-scale solar and hydropower. The company is also currently conducting a study on harnessing wind energy to further diversify its power generation mix.
SEC’s dividend payment has seen an increment over the years, and the company believes that with good corporate governance and sound business management, the dividend payment will continue to increase in the years to come.
