KOTA KINABALU: Sabah Energy Corporation Sdn Bhd (SEC) paid a dividend of RM10 million to the State Government for the financial year ended Dec 31, 2020.
SEC Chief Executive Officer Datuk Harun Hj Ismail said the Covid-19 Pandemic has given
unprecedented challenges to SEC and its Group of Companies profitability last year.
Despite the challenges, SEC managed to pay a higher dividend of RM10 million for 2020
compared to RM8.5 million in 2019, he said after presenting the cheque to Finance
Ministry Permanent Secretary Haji Rusdin Riman.
The presentation ceremony held at the State Administrative Centre on Thursday was witnessed by Chief Minister Datuk Seri Panglima Haji Hajiji Haji Noor and State Secretary
Datuk Seri Sr Safar Untong. Also on hand were SEC Chairman, Datuk Annuar Ayub, Deputy Chairman, Hassan A Gani Pg Amir, and SEC management.
Harun said that against the State Government’s paid-up capital of RM299.9 million, the
accumulated profit after reinvestments over the years has resulted in the Shareholders’ Fund increasing to over RM1 billion as at end 2020.
In addition to the increase in value to its Shareholder, SEC has also paid dividends totaling
RM222.5 million to the Government to date. Harun said that SEC remained resolute in its efforts to preserve its profitability and strengthen its business portfolio during these unprecedented times.-pr/BNN
