State Govt receives RM140.23m dividends
Published on: Sunday, November 26, 2023
By: Anthea Peter
The 13 State Public Agencies which recorded profits and paid dividends to the State Government included SMJ Energy Sdn Bhd, Sabah Credit Corporation, Qhazanah Sabah Berhad, Sabah Energy Corporation Sdn Bhd, KKIP Sdn Bhd and Sawit Kinabalu Sdn Bhd.
THE State Government received RM140.23 million in dividends and contributions from statutory bodies and State Government agencies to date.
State Finance Minister Datuk Seri Masidi Manjun the amount was expected to increase further by the end of this year.
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Masidi said the 13 State Public Agencies which recorded profits and paid dividends to the State Government included SMJ Energy Sdn Bhd, Sabah Credit Corporation, Qhazanah Sabah Berhad, Sabah Energy Corporation Sdn Bhd, KKIP Sdn Bhd and Sawit Kinabalu Sdn Bhd.
The others are Innoprise Corporation Sdn Bhd, Desa Plus Sdn Bhd, Tg Aru Eco Development Sdn Bhd, Sabah International Dairies Sdn Bhd, Keningau Agro-Venture Sdn Bhd, Borneo Development Corporation (Sabah) Sdn Bhd and Sabah Air Aviation Sdn Bhd.
“While dividends obtained through companies listed on Bursa Malaysia are from Felda Global Venture Holdings Berhad, Petronas Dagangan Berhad, Suria Capital Holdings Berhad and Malaysia Airports Holdings Berhad,” he said when tabling the 2024 State Budget at the State Legislative Assembly, here, Friday.
Masidi said apart from dividends, the State Government also received contributions from POIC Sabah Sdn Bhd, Sabah Rubber Industry Board, Progressive Insurance Berhad, Rural Development Corporation and the Sabah Forestry Development Authority.
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Sabah Ports Authority, Sabah Land Development Board, Sabah Parks Board of Trustees and Korporasi Kemajuan Perikanan & Nelayan Sabah (KO-Nelayan) also contributed to the State Government.
“The Majlis Ugama Islam Sabah (MUIS) stands out as a commendable example of a State Statutory Body.
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“It successfully formulated financial management strategies, earning the Clean Bill Certification from the Auditor General for three consecutive years starting from the financial year 2019, 2020 and 2021.
“Furthermore, the Financial Statement for year 2022 has been thoroughly audited in accordance with the established requirements. MUIS has also successfully cleared their debts and strengthened their financial position,” he added.
Masidi said the success of SMJ Energy Sdn Bhd (SMJE) in issuing RM900 million Multi-Currency Wakalah Sukuk, from a total issuance of RM10 billion with the highest AAA rating, was also worthy of emulation.
“This programme was oversubscribed by 3.9 times totalling RM3.5 billion from various investors in the country. It reflects the investors’ confidence towards SMJE.
“Meanwhile, the restructured Sabah Oil and Gas Development Corporation (SOGDC) is planning to develop existing facilities into a premier oil, gas and petrochemical industrial hub in the Asia-Pacific region. Congratulations and well done,” he said.
Masidi called on Government Linked Companies and Statutory Bodies with Government shareholdings to seek and explore potential investment opportunities.
“I would like to remind State Public Agencies that the fund received from the State Government is a responsibility and entrusted to assist the Government in enhancing the State’s socio-economic status.
“Each State Public Agency must ensure fiscal sustainability and formulate the best strategies to generate profit,” he said.
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