SABAH ENERGY PAYS RM9 MLN DIVIDEND TO SABAH GOVT

KOTA KINABALU, July 21 (Bernama) -- Sabah Energy Corporation Sdn Bhd (SEC) today paid RM9 million in dividend to the Sabah government for the financial year ended Dec 31, 2021.

According to a statement from the Sabah Chief Minister’s Office today, Chief Minister Datuk Seri Hajiji Noor today witnessed the handover made by SEC chief executive officer Datuk Harun Ismail to the permanent secretary of the state Ministry of Finance, Mohd Sofian Alfian Nair.

The handover was made at the Sabah State Assembly Building in Teluk Likas here which was also attended by SEC chairman Datuk Annuar Ayub and Sabah state secretary Datuk Seri Safar Untong.

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Harun in his briefing to Hajiji said the SEC and its group of companies recorded a pre-tax profit of RM42.7 million for 2021.

The profit was lower than the RM50.6 million achieved by the group in 2020.

He said the pre-tax profit of SEC’s wholly owned subsidiary Asian Supply Base Sdn Bhd (ASB) for 2021 decreased to RM17.7 million, while SEC's pre-tax profit at the company level was RM18.1 million.

“Compared to the state government's paid-up capital of RM299.9 million, the reinvestment of accumulated profits over the years has resulted in the shareholders' fund increasing to more than RM1 billion by the end of 2021.

“In addition to increasing value to its shareholders, the SEC has also paid dividends amounting to RM231 million to the government to date,” he said in the statement.

Harun said SEC remains focused on strengthening its business portfolio and maintaining group profitability.

He said SEC would continue to provide a better, safer, cleaner, more affordable and accessible energy supply to more stakeholders in the business community throughout Sabah.

-- BERNAMA