Kuala Lumpur, 9 February 2026 – Sabah Energy Corporation Sdn. Bhd (SEC) is proud to announce the exchange of Heads of Agreement (HoA) with PETRONAS for the Mutiara Cluster, a strategic offshore gas resource located off the coast of Sandakan.
Representing SEC was Chief Executive Officer, Datuk Ir. Ts. Adzmir Abd Rahman, while PETRONAS was represented by and Ziaril Faiz Zakaria, Senior General Manager, Integrated Hydrocarbon Management, PETRONAS. The exchange was witnessed by YAB Datuk Seri Panglima Haji Hajiji bin Haji Noor, Chief Minister of Sabah; YBhg Tan Sri Tengku Muhammad Taufik Tengku Aziz, President and Group CEO of PETRONAS; YB Datuk Seri Panglima Safar Untong, Sabah State Secretary; YBhg Datuk Annuar Ayub, Chairman of SEC; and YBhg Datuk Bacho Pilong, Senior Vice President, Malaysia Petroleum Management (MPM).
The HoA establishes the commercial and collaborative framework towards a future Gas Sales Agreement, supporting the development and monetisation of gas resources from the Mutiara Cluster to meet Sabah’s long-term energy needs. With first gas targeted for early 2029, the Mutiara Cluster is expected to play a critical role in reshaping Sabah’s energy supply landscape. SEC’s natural gas currently fuels 86% of the state’s power needs, but that supply has been concentrated on the West Coast. The East Coast has relied on small-scale LNG deliveries.
The development of the Mutiara Cluster is intended to address this imbalance by enabling scalable and reliable gas supply to the East Coast at industrial scale, supporting energy security, economic activity, and downstream industrial development in Sandakan and surrounding areas. Beyond infrastructure, the HoA reflects a shared commitment by SEC and PETRONAS to strengthen collaboration in unlocking Sabah’s indigenous gas resources responsibly, while supporting a more balanced and resilient energy market across the State.
The Mutiara Cluster development is also aligned with the State’s’s SMJ 2.0 development agenda and is expected to contribute to sustained investment, job creation, and long-term economic growth.
Labuan, 28 january 2026 — SEC Power Sdn. Bhd., a subsidiary of Sabah Energy Corporation Sdn. Bhd. (SEC), is honoured to be a project partner in the Groundbreaking and Launch Ceremony of the 120MW Rancha-Rancha Power Plant, a landmark development led by Rancha Power Sdn. Bhd. as the project owner.
The ceremony was officiated by the Minister of Energy Transition and Water Transformation, Datuk Seri Fadillah Yusof. Also in attendance were YB Dato’ Indera Dr. Suhaili Abdul Rahman, Members of Parliament for Labuan, Director of SEC Datuk Ir. Ts. Adzmir Abd Rahman, the SEC Group Chief Executive Officer, as well as members of SEC’s top management.
Once completed, the 120MW power plant is expected to strengthen electricity supply reliability in Labuan, support economic activities, and cater to the island’s growing energy demand in the years ahead. The project also contributes to Malaysia’s energy transition agenda by ensuring a stable and dependable power supply alongside the continued expansion of renewable energy.
SEC Power is pleased to collaborate on this project with PG Energia Sdn. Bhd., a subsidiary of Petronas Gas Berhad, and Sustainable Power Sdn. Bhd., a subsidiary of Sabah Electricity Sdn. Bhd., in supporting Labuan’s long-term energy needs.
Kota Kinabalu — From forward planning to festive celebration, Sabah Energy Corporation (SEC) brought its people together for SEC COMMIT x Christmas Luncheon 2025 at Menara SEC.
The programme began with a strategic panel session titled “SEC Commit: Game On 2030”, featuring SEC’s emerging leadership talent from the Finance, Legal and Secretariat, Human Resources and Administration, Technical Services, and Corporate Strategy divisions. The session offered staff a clearer understanding of SEC’s direction, priorities and the role young leaders play in shaping the Corporation’s contribution to Sabah’s energy development.
As discussions on strategy concluded, the focus shifted to appreciation with an outdoor-style Christmas Luncheon officiated by SEC Chairman YBhg. Datuk Annuar Ayub, Deputy Chairman YBhg. Datuk Hassan A. Gani Pg Amir, and Group Chief Executive Officer YBhg. Datuk Ir. Adzmir Abd Rahman. The luncheon was held as a gesture of thanks for the dedication shown by SEC employees throughout the year.
During the event, certificates were presented to participants of SEC’s Green Ambassador Programme, an internal CSR initiative that promotes environmental awareness through activities such as beach clean-ups and workplace sustainability campaigns.
The celebration was enlivened by a carolling competition, lucky draw and food stalls, creating a relaxed and cheerful atmosphere. In bringing together planning and appreciation, purpose and people, SEC reaffirmed its commitment to a workplace where employees feel valued as partners in building Sabah’s energy future.
Kota Kinabalu — Sabah Energy Corporation (SEC) continues its commitment to inclusive education through its Corporate Social Responsibility (CSR) programme, “Sekolahku, Harapanku”, which has now entered its second year with an expanded reach to more schools across Sabah.
For many children, school represents hope, opportunity and the promise of a better future. However, for some, financial and social challenges continue to affect their learning experience. Recognising this gap, SEC introduced Sekolahku, Harapanku as a pilot programme in 2024 to provide targeted assistance to students from less privileged backgrounds.
The initiative began with selected schools, namely SK Pekan Sipitang (Sipitang), SK Lapasan Telipok, and SK Laya-Laya Tuaran, with support channelled through the respective schools and Parent-Teacher Associations (PIBGs). This approach ensured that assistance reached students who needed it most in a practical and meaningful manner.
As the programme concludes its second year, SEC has expanded its support to five schools, reflecting both the continued need and the Corporation’s sustained commitment. The schools involved this year are SK Malawa Sepangar, SK Laya-Laya Tuaran, SK Ulu Sipitang (Sipitang), SK Indarason Laut (Kudat), and SK Kimanis (Papar).
While the assistance provided may appear modest, such as school uniforms, bags and learning essentials, its impact is significant. Beyond addressing immediate needs, the programme helps restore confidence, dignity and a sense of belonging among students, enabling them to focus on their education.
SEC aspires to continue and further expand Sekolahku, Harapanku in the coming years, to reach more schools and extend greater support to students across Sabah. Through this initiative, SEC reaffirms its belief that while not every challenge can be removed, meaningful action, no matter how small, can carry lasting hope.
KOTA KINABALU, 19 December 2025: Sabah Energy Corporation (SEC) paid an RM18 million dividend for the financial year ended 2024, marking an increase from RM14 million in the preceding year, on the back of a strong financial performance across the Group.
The dividend was presented during the Majlis Penyampaian Dividen & Sumbangan 2025 held at Menara Kinabalu. The presentation was made by SEC Chairman, YBhg. Datuk Annuar Aman, accompanied by SEC Group Chief Executive Officer, YBhg. Datuk Ir. Adzmir Abd Rahman, to the Chief Minister of Sabah, YAB Datuk Seri Panglima Haji Hajiji bin Haji Noor.
The ceremony was witnessed by Deputy Chief Minister II, YB Datuk Seri Panglima Masidi Manjun; Deputy Chief Minister III, YB Datuk Ewon Benedict; State Secretary, YB Datuk Safar Untong; and Permanent Secretary of the Ministry of Finance Sabah, YBhg. Datuk Sofian Alfian Nair.
For the financial year under review, SEC recorded a robust performance at both Group and company levels. Group profit before tax rose to RM73.04 million, representing an increase of approximately 81 per cent compared with RM40.3 million in 2023. At the company level, profit before tax reached RM54.6 million, up about 59 per cent from RM34.4 million in the previous year. Meanwhile, its wholly owned subsidiary, Asian Supply Base Sdn. Bhd. (ASB) recorded a profit before tax of RM34.5 million, an increase of approximately 77 per cent from RM19.5 million in 2023.
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 2024. Since the Company’s inception, the SEC Group’s book value per share has increased fivefold, from RM0.70 to RM3.56. As of now, the SEC has contributed a total of RM273.5 million in dividends to the Government.
The improved performance was driven by disciplined and prudent expenditure management, stronger operational efficiencies, committed leadership, and continued support from the Sabah State Government. The results also reflect SEC’s ongoing focus on strengthening its financial resilience while delivering sustainable value to the State and its people.
With a solid financial foundation in place, SEC remains optimistic about sustaining earnings growth and enhancing shareholder returns in the years ahead.
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