KOTA KINABALU, April 20 (Bernama) -- Sabah Energy Corporation Sdn Bhd (SEC) has declared a gross dividend of RM12 million to the Sabah government for its financial year ended Dec 31, 2009, the highest in the series of yearly dividends.
"SEC is pleased that it has been able to declare a cumulative gross dividend of RM64.34 million to the state government since 1992," said SEC Chief Executive Officer Datuk Margaret Fung during a cheque presentation ceremony of the dividend at the Sabah State Legislative Assembly Tuesday.
Chief Minister Datuk Seri Musa Aman, who is also State Finance Minister, received the cheque.
Fung said the SEC group's unaudited profit before tax was expected to hit a record of about RM87 million for 2009, the highest since the restructuring of the Sabah Gas Utilisation Project in 1992.
Apart from income from its core activities at the operating level, Fung said SEC's investments in its joint ventures yielded much higher returns for 2009.
Fung also announced her deputy, Harun Ismail, will succeed her when she retires at end of next month.
Fung became SEC Chief Executive Officer in 1992.
-- BERNAMA
