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.
