Madius (fifth left) alongside Sabah Assistant Finance Minister Kenny Chua (sixth left) and Tan (seventh left) cutting the cake in conjunction with ASB Riding 35 Years Appreciation Dinner, flanked by long-serving employees on Sunday night.
LABUAN: Sabah government-linked company, Asian Supply Base Sdn Bhd (ASB), is planning to venture into the liquefied natural gas (LNG) segment, said chief executive officer Datuk Harris Annuar Tan.
He said the Labuan-based company had been in the oil and gas industry for 35 years, adding that the company planned to expand its repertoire to include a LNG receiving port.
“Without a doubt, 35 years is a long time for ASB to be in the industry, and plans are afoot to be part of the LNG industry,” he said at the company’s Riding 35 Years Appreciation Dinner last night.
The company is currently focusing exclusively on providing facilities and services tailored to the requirements of more than 100 multinational oil and gas companies involved in exploration, development and production activities.
Sabah Chief Minister Datuk Seri Shafie Apdal said the company prevailed through volatile economic changes over the past 35 years while maintaining a reputable image due to its efficient and professional management.
“Although the oil and gas industry experienced a downturn due to the slump in global oil prices which had badly hit Labuan’s economy, ASB managed to push through the circumstances and remain in the industry,” he said.
His speech was read by Sabah Deputy Chief Minister Datuk Seri Madius Tangau at the event.
Shafie said this had enabled investors to remain confident in ASB and continued to receive dividends.
“I’m aware that during the downturn, the industry players had been badly hit with most of the companies opting for retrenchment exercise.
“However, this was not the case in ASB, as the company was able to face the challenges without having to retrench its employees,” he said.
With its remarkable achievement, Shafie said the state government would do its level best to support ASB’s way forward and future development plans.
“I hope ASB will continue to maintain and improve its reputation and help accelerate Labuan’s economy,” he added.
ASB is an offshore supply base which participates in and supports oil and gas exploration and production activities, with the aim of serving as a stocking point for offshore drilling, development and production consumables. — Bernama