KOTA KINABALU: Sabah Energy Corporation Sdn Bhd (SEC) paid RM10 million in  dividend to the State Government for the financial year ending Dec 31, 2022. 

SEC Chairman Datuk Annuar Ayub presented the cheque to Chief Minister Datuk Seri  Panglima Haji Hajiji Haji Noor accompanied by Chief Executive Officer Adzmir Abd  Rahman in a brief ceremony at Menara Kinabalu, near here today. 

At the ceremony, Adzmir disclosed to the Chief Minister that SEC and its group of  companies have chalked a RM47.9 million pre-tax profit in 2022. 

He said SEC’s wholly-owned subsidiary, Asian Supply Base Sdn Bhd, contributed  significantly to SEC with a profit before tax amounting to RM28.8 million. SEC's  standalone pre-tax profit stood at RM22 million. 

To date, SEC’s total dividend contribution to the State Government stood at RM241  million. 

Adzmir said SEC’s accumulated profit after re-investments over the years has increased  the Shareholders’ Fund to over RM1 billion at the end of 2022. 

As the largest domestic natural gas supplier and transporter in Sabah, SEC is now  playing a major role in the industrial and economic growth of the region, said Adzmir. 

SEC is committed to enhancing its business operations and profitability in the energy  sector, aligning with the State Government's objective to have more active participation  of state GLCs in the energy industry, he added. 

With its expanding customer base and infrastructure control, SEC is well-positioned to  provide quality products and services that will boost profitability and positively impact the  people of Sabah through continuous dividend payments to the State Government, he  said. 

Ends