Sabah Energy pays RM6.33 million in gross dividends to Sabah’s state government
Posted on June 26, 2012, Tuesday
KOTA KINABALU: Sabah Energy Corporation Sdn Bhd (Sabah Energy) has announced a gross dividend payment of RM6.33 million to the state government for the financial year ending Dec 31, 2011.
Sabah Energy’s cumulative gross dividend payment to the state since 1992 amounts to RM78.67 million.
The group’s chief executive officer Datuk Harun Ismail presented the dividend to Permanent Secretary in the Ministry of Finance, at a ceremony witnessed by Chief Minister-cum-Finance Minister Datuk Seri Musa Aman, SEC Chairman Au Kam Wah and the company’s Board of Directors.
In a press statement issued by the Chief Minister’s Department here yesterday, Musa stressed the need for state agencies like SEC to remain profitable and improve their financial performance.
“You must be cautious in your spending, strive for greater efficiency, transparency and accountability,” he said while urging the company to gear its Corporate Social Responsibility (CSR) programme towards improving the education of children especially in the state’s rural areas.
Earlier at the ceremony, Harun said that Sabah Energy and its group of companies posted a profit before tax of RM69.45 million for the 2011 financial year, as compared to RM62.38 million for 2010.
Against an original capital of RM242.67 million, the shareholders fund of the group has increased to RM578.38 million by the end of 2011, he said adding that in market value terms, the group is worth significantly more than that. — Bernama