SMJ Energy records RM362mil in profits, almost 40% jump from 2023
SMJ Energy Sdn Bhd said it was actively supporting the state's efforts to enhance local content in Sabah's oil and gas services and equipment sector without compromising on cost, safety, quality, or timelines. (SMJ Energy pic)
PETALING JAYA : SMJ Energy Sdn Bhd has announced a profit before tax of RM362 million for its financial year ended Dec 31, 2024 – a nearly 40% increase compared with the RM259 million recorded the previous year.
SMJ Energy said it demonstrated the firm's robust performance despite volatile global energy markets and that it was driven by strategic asset optimisation, disciplined cost management and healthy revenue growth.
SMJ Energy chairman Masidi Manjun attributed the success to strong contributions from flagship assets including the Samarang Production Sharing Contract, LNG Train 9 liquefaction plant and Petronas Chemicals Fertiliser Sabah Sdn Bhd.
Other contributors to this success include the floating production storage and offloading (FPSO) and floating storage operation (FSO) units from the debt-free Sabah International Petroleum.
Masidi, who is also state finance minister, credited the achievement to the dedication of a professional team working in close collaboration with key stakeholders, including Petronas.
However, he cautioned vigilance regarding the external environment, particularly the ongoing global tariff war and fluctuating oil prices.
'The volatility in global oil markets highlights the importance of maintaining our proactive risk management and prudent investment strategies,' he said in a statement.
SMJ Energy said that in addition to building a profitable oil and gas business, it was also actively supporting the state's efforts to enhance local content in Sabah's oil and gas services and equipment sector without compromising on cost, safety, quality or timelines.
'The total value of jobs awarded to Sabahan companies reached RM2 billion last year compared with RM613 million in 2021,' Masidi added.
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New Straits Times
2 days ago
- New Straits Times
From broken home to fierce faith: entrepreneur Aida Ihsani's unbreakable spirit
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Against the breathtaking canvas of sunset and sea, they marvel at God's handiwork, and for a few precious seconds, the world feels at peace. It's in this moment that I spot her again — Aida, inspiring influencer and founder of Malaysia's first women's woodworking workshop, walking with deliberate ease towards the dinner venue. The smile hasn't left her face. There's no rush in her steps nor burden in her shoulders. I catch her eye and gesture for her to join me. She responds with a warm, knowing grin and a slight nod. But before making her way over, she turns once more toward the horizon, her gaze lingering on the sun-drenched skies — as though offering a quiet, unspoken thank you to the world that still grants her the grace to inspire. FORMATIVE YEARS "My formative years were tough," begins Aida, founder and chief executive officer of Aida Ihsani Enterprise, voice steady. We're seated next to each other over a quiet brunch, the memory of yesterday's breathtaking sunset still hanging gently between us. She places the orders for us to share — a simple, thoughtful gesture that feels less like an interview and more like catching up with an old friend. There's a calmness in the way she speaks; the kind that belongs to someone who's faced the darkest corners of their past and learned to lay those ghosts to rest. Born and raised in Petaling Jaya, the 35-year-old is no stranger to hardship. The struggles arrived early, uninvited and unrelenting, weaving themselves through the fabric of her childhood like wild, stubborn vines. Yet what lingers isn't the weight of her pain, but the grace in how she chooses to carry it. "I come from a broken family," she continues, absentmindedly twirling a strand of pasta onto her fork. Briefly, her eyes cloud over, a flicker of old hurt passing like a shadow across her otherwise radiant face. But it's gone as quickly as it appears, replaced by a gentle smile. I duly learn that Aida grew up in a bustling household as the fourth of eight siblings — seven girls and a boy. Their father left when she was still in college and her youngest sister was just a schoolgirl. "I can't even remember what he used to do for a living," she admits, before adding calmly: "We cut him off." Their mother, a tenacious woman from Kelantan, became both anchor and sail, raising eight children single-handedly, working any job she could find. Recalls Aida: "Our mother instilled many values in us. She didn't just tell us to study -- she taught us about life. Even when we had no money, she'd still bring us out, just to learn how to order at a restaurant. It's those soft skills you don't get anywhere else." From young, Aida was street-smart. While most were funnelled into science streams in school, she resisted, choosing the arts — an early act of defiance against societal expectations. "My mum supported me. She never forced me to follow what everyone else was doing," she shares. It would prove to be a recurring theme in her life. A voracious reader growing up, Aida once aspired to a life in law. She earned her degree but was forced to halt her legal ambitions when financial constraints made continuing her Bar qualification impossible. "I thought that path was mine," she reflects, "but circumstances cut it off. And in a strange way, that opened up my world." She dabbled in different jobs — starting with a stint assisting author Karim Raslan in producing documentaries across southeast Asia, managing logistics from Indonesia to the Philippines. Later, she worked with non-governmental organisations (NGOs), where a volunteer project building homes for the Orang Asli became an unexpected turning point. "That's how I discovered woodworking," she says, smiling softly. What began as a side pursuit in 2016 evolved into a custom furniture business, Adiaidareka, which she co-founded with her then-husband, Shafril Hadi. Alongside bespoke carpentry projects, they started running hands-on woodworking workshops for the public. When the marriage ended after six years, she rebranded herself and the business under her own name, focusing primarily on creating safe, empowering spaces for women in carpentry — a field long monopolised by men. In 2019, she founded Malaysia's first women's woodworking workshop, a Human Resources Development Fund (HRDF)-certified programme offering practical woodworking skills to women from all walks of life. In just a few years, she's trained more than 2,000 women — from corporate executives and mothers to students and retirees, even some from Singapore and Sabah. Shares Aida: "When women walk into my workshop, they're always saying, 'I've been looking for something like this'. 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If that one moment changes how a woman feels about herself, it creates a ripple effect — in her family, among her friends, at work. That's how real change happens." The community has become a sanctuary for many. Says Aida: "Women go through different phases in life — marriage, motherhood, career changes, divorce — and sometimes, they lose themselves. A lot of them don't have a support system. And even if they have friends, those friends might be at a different stage, or just not get it." The beauty of her community lies in its empathy. No judgment, no hierarchy, just shared humanity. Her own resilience is testament enough to what women can endure and overcome. Shares Aida: "I've seen my mother go through so much. I've experienced failed relationships, financial struggles, and moments of doubt. But I've always had my faith, my mountains and my community." Hiking, one of her passions, she says, teaches her life lessons no classroom or courtroom ever could. "On a mountain, the peak isn't going anywhere. You have to pace yourself. If you rush, you get altitude sickness," she says, eyes flashing with conviction. Continuing, she muses: "It's the same in life. If you're always chasing, always rushing, you'll burn out. The mountain teaches patience. It reminds you to be with your own mind — something many are terrified of." These days, Aida continues to build spaces — literal and metaphorical — for women to claim as their own. And through every plank of wood, every uphill trail and every shared conversation, she chips away at the old narratives that once kept women in their place. In her world, there's no room for fear. Only freedom. POWER OF FAITH As our conversation trails off, a companionable silence settles between us. The gentle clink of cutlery against plates fills the quiet, a small, grounding sound in the midst of heavier thoughts. Aida gazes down for a moment, as though tracing memories in her mind. 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Daily Express
2 days ago
- Daily Express
Sabah GLCs mostly ‘blackholes'
Published on: Saturday, June 07, 2025 Published on: Sat, Jun 07, 2025 By: David Thien Text Size: From left – Adi, Roger Chin, Lo and Haffisz. Kota Kinabalu: A majority of the 250-odd Sabah GLCs (Government-linked companies) are like 'blackholes' sucking away financial resources from Sabah. But there are a few bright stars. 'These statutory bodies and GLCs produced only RM143m dividends to the Sabah Government, of which RM50m was from SMJ Energy. Only a small number can generate dividends for the government. The performance of the rest is pathetic,' said Datuk John Lo, a former banker and now in the Sabah Economic Action Council (SEAC). Advertisement The other profitable GLCs include Sabah Foundation's subsidiary Innoprise, Sabah Energy Corporation, Sogip, Sogdc, POIC Lahad Datu, Suria Capital, Sabah Credit Corporation and Sawit Kinabalu. Lo was a guest panel speaker at the NGO Sabar – Kopi Tiam Council podcast on 'Oversight & Reform of government-Linked Companies (GLCs) Transparency, accountability & Corruption Prevention session, recently. 'Most are either non-performing or underperforming,' Lo said and pointed out that GLCs hold many monopolistic rights for example, cement [Sabah Cement Industries], ports [Suria, POIC Sandakan and POIC Lahad Datu], water [Jetama] and fishing landing rights [Safma]. They have been granted very cheap but extremely prime land, most of them at RM1,000 premium. [Innoprise, SUDC, subsidiary of Sedco, Suria, SICC, Sabah Energy, TAED.]. Advertisement Others have been vast acreage of valuable agricultural land for free or at nominal premium. [Sawit Kinabalu, KPD, Sabah Softwood.] Then there are those who have been granted cheap and valuable land for industrial park [KKIP, Sogip, POIC Sandakan and POIC Lahad Datu, Asian Supply Base in Labuan] or granted concession rights in oil and gas, river and sea sand [Sabah Energy, Sabah Gas, SMJ Energy, Sedco]. GLCs are also into hotels, resorts and jungle resorts [Innoprise, Sedco and Sabah Air] or granted exclusive JV preference with Sabahan and non-Sabahan companies. 'Most significantly, many GLCs have become a huge liability and drag on Sabah's economic growth. Allowing GLCs to continue without proper governance will result in serious economic consequences. Sabah can never catch up,' he said. In most cases the political appointments of chairmen, board of directors and senior management have been inappropriate. 'GLCs are still bleeding losses year in year out. Sabahans are subsiding these losses that have easily run into billions the last 35 years. The accumulated losses are staggering,' he said. What is worse is that some of these GLCs have sold or entered into JVs in many valuable assets like prime commercial and agriculture land, buildings, monopolies and concessions, most of which are lopsided against Sabah. These GLCs have taken huge loans from the government and banks [especially SDB] that they cannot service or repay, often forcing Sabah taxpayers to bail them out. 'They enter into many lopsided JV agreements against the interests of Sabah. They have the greatest number of failed JV projects that need rescue by 'white knights'. 'These billions of dividends can be tax free and can transform Sabah's economic ownership back to Sabahans. The greatest impact is job creation. If each GLC, on average, can create an additional 100 jobs, there will be additional 25,000 jobs!' said Lo. 'This money could have been used for the hard-core poor, repair or investment in infrastructures, health, scholarships or to build two or three universities. 'The GLCs have many JV projects that are suspended or non-start for years.' 'SDB's revamp is showing encouraging results. Keep an eye on Sabah Energy as it will be the new performing star.' Lo was pleased that Chief Minister Datuk Seri Hajiji Noor has appointed suitable Sabahans to head some boards and management e.g. SDB, SMJ Energy, Sabah Energy, Sogip, Sogdc and the latest, a new Group GM for Sedco. Hajiji has appointed advisors on the economy, oil and gas, energy, tourism and international affairs. Notably, he said state Finance Minister Datuk Seri Masidi Manjun has appointed a task force on GLCs. Masidi has also appointed an oversight committee for GLCs. 'Hopefully, the revamp of GLCs will lead some of them to be listed on Bursa. Bursa will impose demanding and stringent governance requirements on these GLCs. 'GLCs that have independent board of directors and professional management appointed by Hajiji and Masidi are turning around with noticeable improvements. 'It is imperative that future Sabah governments continue to revamp, rationalise the GLCs. 'Focusing on and sorting out the mess in Sabah's GLCs is a critical economic issue for every Sabahan, especially for the present young generation and their children. These GLCs are eroding away their future. 'I hope all Sabahans, every man, every woman, every voter, after listening to Sabar's podcast, will support the reformation, transformation and rationalization of Sabah's GLCs. 'It is in every Sabahan's interest to see to it that all GLCs succeed,' Lo stressed. * Follow us on our official WhatsApp channel and Telegram for breaking news alerts and key updates! * Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available. Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia
Borneo Post
3 days ago
- Borneo Post
Historic appointment: First Sabahan to lead Sandakan Polytechnic
Mohd Sahran SANDAKAN (June 7): Sandakan Polytechnic made history with the appointment of Mohd Sahran @ Awang bin Mohidin as its new director on June 3, 2025, marking him as the first native Sabahan to hold this prestigious position. The announcement was met with great optimism, signaling a new chapter for the institution and recognition of local talent. Born in Kampung Melugus, Papar, Mohd Sahran is the second of eight siblings. His journey to this key leadership role reflects his dedication and extensive experience in the polytechnic education system. He holds a Bachelor's Degree from the International Islamic University Malaysia (UIA), which laid a strong academic foundation for his distinguished career. Mohd Sahran's career in polytechnic education spans over two decades, demonstrating his deep understanding of the sector. His professional trajectory includes serving at Politeknik Kota Kinabalu from 2000 to 2005, followed by a decade as assistant director in the Training and Career Division of JPPKK (now known as the Competency and Career Development Division) from 2005 to 2015. He then held the position of deputy director of Academic Support at Politeknik Kota Kinabalu from 2016 to 2020 before moving to KUKK JPPKK Putrajaya from 2021 to 2023. Prior to his appointment at Sandakan Polytechnic, Mohd Sahran served as director of Tawau Polytechnic Sabah, a role he held from 2024 to 2025. His leadership at Tawau Polytechnic was instrumental in fostering academic excellence and operational efficiency, preparing him for the new challenges and opportunities at Sandakan Polytechnic. The appointment of a native Sabahan to lead Sandakan Polytechnic is seen as a positive step toward empowering local talent and ensuring the institution's direction aligns with the needs and aspirations of the Sabah community. With his vast experience and deep roots in the state, Mohd Sahran is expected to bring fresh perspectives and renewed energy to the polytechnic, further enhancing its role in producing skilled and competent graduates for the nation.
