SABAH ENERGY CORPORATION PAYS RM10 MILLION DIVIDEND TO THE SABAH STATE GOVERNMENT
KOTA KINABALU: Sabah Energy Corporation Sdn. Bhd. (SEC) today paid a dividend of RM10 million to the Sabah State Government for the financial year concluded on 31st December 2022.
YB Datuk Anwar Ayuub @ Annuar Ayub, the Chairman of SEC, presented the dividend to YAB Datuk Seri Panglima Haji Hajiji Bin Haji Noor, The Chief Minister of Sabah. The Board of Director of SEC, YBhg. Datuk Saddi Bin Abdu Rahman and the Chief Executive Officer of SEC, Encik Adzmir Abdul Rahman, were present to witness the handover.
During the ceremony, Adzmir said that SEC and its group of companies profit before tax in 2022 reached an impressive RM47.9 million, a noteworthy increase from the previous year’s RM40.6 million. Asian Supply Base Sdn. Bhd. (ASB), a wholly owned subsidiary of SEC, contributed significantly with a profit before tax amounting to RM28.8 million, while SEC’s standalone profit before tax stood at RM22 million.
Adzmir further highlighted that against the State Government’s paid-up capital of RM299.9 million, the accumulated profit after re-investments over the years has increased the Shareholders’ Fund to over RM 1 billion at the end of 2022. To date, SEC’s total dividend contribution to the Government stands at RM241 million.
As the largest domestic natural gas supplier and transporter in Sabah, SEC is now playing a major role in the industrial and economic growth of the region. According to Adzmir, SEC is committed to enhancing their business operations and profitability in the energy sector, aligning with the state government’s objective to have more active participation of state GLCs in the energy industry.
With its expanding customer base and infrastructure control, SEC is well-positioned to provide quality products and services that will boost profitability and positively impact the people of Sabah through continuous dividend payments to the State Government.
21st June 2023
