Latest news with #LNGTrain9
Daily Express
23-04-2025
- Business
- Daily Express
SMJ energy sees jump in after-tax profit to RM362 million
Published on: Wednesday, April 23, 2025 Published on: Wed, Apr 23, 2025 By: Bernama Text Size: Masidi said the company's success was the result of the dedication and hard work of a team of professionals working closely with key stakeholders, including Petronas. Kota Kinabalu: Sabah government's wholly owned SMJ Energy Sdn Bhd recorded a 40 per cent jump in profit after tax of RM362 million (before audit) last year compared to RM259 million in 2023, said Sabah Minister of Finance Datuk Seri Masidi Manjun. Masidi, who is also the chairman of SMJ Energy, said this reflected the company's strong performance, even though the company was facing an uncertain global energy market. 'This improved performance was driven by several key factors, including strategic asset optimisation, disciplined cost management and strong revenue growth. 'SMJ Energy's results also showed a significant surge, driven by contributions from several of the company's key assets including the Samarang production sharing contract (PSC), LNG Train 9 liquefaction plant, Petronas Chemical Fertilizer Sabah Sdn Bhd (PCFSSB), as well as floating production, storage and offloading (FPSO) and floating storage operation (FSO) from Sabah International Petroleum (SIP), which is debt-free,' he said in a statement here. He said the company's success was the result of the dedication and hard work of a team of professionals working closely with key stakeholders, including Petronas. 'SMJ Energy also has a balanced portfolio, encompassing the upstream, LNG, petrochemical and FPSO/FSO sectors. This diverse portfolio provides the company with financial stability, ensuring that it remains strong even in the face of low oil price conditions. 'However, I would like to warn companies to always be vigilant against external changes that could affect performance,' he added. He said global market uncertainties, including the ongoing tariff war and oil price fluctuations, were challenges that needed to be faced with caution. 'The volatility in the global oil market highlights the importance of maintaining proactive risk management and a prudent investment strategy,' he said. Meanwhile, Masidi said SMJ Energy was also paying attention to the development of the oil and gas services and equipment (OGSE) sector in Sabah. 'The company is committed to increasing local content in the sector, without neglecting aspects of cost, safety, quality, and work schedules. 'Last year, SMJ Energy allocated RM2 billion worth of jobs to Sabah companies, compared to only RM613 million in 2021,' he added. * Follow us on Instagram and join our Telegram and/or WhatsApp channel(s) for the latest news you don't want to miss. * 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
Daily Express
22-04-2025
- Business
- Daily Express
SMJ Energy profit surges to RM362 mil
Published on: Tuesday, April 22, 2025 Published on: Tue, Apr 22, 2025 Text Size: SMJ Energy Sdn Bhd reported a 40% increase in profit for 2024, reaching RM362 million, up from RM259 million in 2023. This growth was driven by strong asset contributions, including the Samarang PSC, LNG Train 9, and FPSO/FSO under Sabah International Petroleum (SIP). Chairman Datuk Seri Panglima Masidi Manjun credited the company's performance to its professional team and collaboration with PETRONAS. He also noted that SMJ Energy's diversified portfolio ensures financial resilience despite global market volatility. SMJ Energy further supported Sabah's economy, awarding RM2 billion in contracts to local companies in 2024, a significant rise from RM613 million in 2021. * Read full report in tomorrow's print paper or log in or sign up for e-paper and premium online news access. * Follow us on Instagram and join our Telegram and/or WhatsApp channel(s) for the latest news you don't want to miss. Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia
Borneo Post
22-04-2025
- Business
- Borneo Post
SMJ Energy's 2024 profit surges to RM362 million amid market uncertainties.
KOTA KINABALU (April 22): SMJ Energy Sdn Bhd (SMJ Energy) announced its unaudited financial results for the year ended 31 December 2024, reporting a profit after tax of RM362 million compared to RM259 million in 2023, an almost 40% jump in profit. The result demonstrates the company's robust performance despite volatile global energy markets, driven by strategic asset optimization, disciplined cost management and robust revenue growth. SMJ Energy's revenue surged year-on-year, propelled by strong contributions from flagship assets Samarang Production Sharing Contract (PSC), LNG Train 9 liquefaction plant, Petronas Chemical Fertilizer Sabah Sdn Bhd (PCFSSB) and Floating Production & Storage (FPSO) and Floating Storage Operation (FSO) from debt free Sabah International Petroleum (SIP). Sabah's Minister of Finance and Chairman of SMJ Energy, Datuk Seri Panglima Masidi Manjun credited this achievement to the dedication of a professional team working in close collaboration with key stakeholders, including Petronas. Given the balanced portfolio consisting of Upstream, LNG, Petchem and FPSO/FSO, SMJ Energy's financials will remain robust even in a low oil price scenario. 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 stated. In addition to building a profitable oil and gas business, SMJ Energy is actively supporting the state in improving local contents in the oil and gas services and equipment (OGSE) sector in Sabah without compromising costs, safety, quality and schedules. The total value of jobs awarded to Sabahan companies reached RM2 billion last year compared with RM613 million in 2021.
Free Malaysia Today
22-04-2025
- Business
- Free Malaysia Today
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.
New Straits Times
22-04-2025
- Business
- New Straits Times
Sabah's SMJ Energy profit surges to RM362mil despite market headwinds
KOTA KINABALU: SMJ Energy must remain vigilant amid ongoing market uncertainties, despite a 40 per cent jump in profit, said state Finance Minister Datuk Seri Masidi Manjun. The state-owned company announced its unaudited financial results for the year ended Dec 31, 2024, reporting a profit after tax of RM362 million, up from RM259 million in 2023. Masidi, who is also SMJ Energy chairman, attributed the achievement to a professional and dedicated team working in close collaboration with key stakeholders, including Petronas. He added that the company's financial position is expected to remain strong even in a low oil price environment, thanks to a balanced portfolio comprising upstream, liquefied natural gas (LNG), petrochemical, floating production storage and offloading (FSPO) and floating storage operations (FSO) assets. SMJ Energy's revenue also surged year-on-year, driven by strong contributions from flagship assets such as the Samarang production sharing contract, LNG Train 9 liquefaction plant, Petronas Chemical Fertilizer Sabah Sdn Bhd, and FPSO and FSO under the debt-free Sabah International Petroleum. "This result demonstrates the company's resilience despite volatile global energy markets, underpinned by strategic asset optimisation, disciplined cost management and strong revenue growth. "The volatility in global oil markets highlights the importance of maintaining our proactive risk management and prudent investment strategies," he said in a statement, referring to external factors such as the ongoing global tariff war and fluctuating oil prices that could impact the company. In addition to building a profitable oil and gas business, SMJ Energy is actively supporting the state's efforts to increase local content in Sabah's oil and gas services and equipment sector, without compromising on cost, safety, quality or project timelines. The total value of jobs awarded to Sabahan companies reached RM2 billion last year, up from RM613 million in 2021.
