Latest news with #PanglimaMasidiManjun
Borneo Post
24-04-2025
- Politics
- Borneo Post
GRS not rushing seat talks with PH, aims for political stability in Sabah
Masidi KOTA KINABALU (Apr 24): Gabungan Rakyat Sabah (GRS) is not in a hurry to begin seats negotiations with Pakatan Harapan (PH). 'We are not in a hurry,' said GRS secretary-general Datuk Seri Panglima Masidi Manjun, who is leading the negotiations. He explained that GRS maintains a good relationship with PH and when the time comes, they will 'sit down nicely over coffee.' Masidi, who is also Parti Gagasan Rakyat Sabah (PGRS) deputy president, emphasised that the ultimate goal is to prioritise Sabah and ensure political stability. 'So many comparisons have been made between Sabah and Sarawak. Sarawak has prospered because it has enjoyed political stability from day one. Sarawak has had six Chief Ministers, while Sabah has already had 16. That speaks volumes about the political turbulence in Sabah, which has hindered our focus on economic development.' He added that all component party presidents have agreed to discuss the matter informally — 'over coffee.' One of the challenges, he said, is that everyone wants a bigger share of seat allocations. 'There are only 73 seats. The overriding consideration should be to field candidates with the best chances of winning,' he stressed after speaking at the Sabah Renewable Energy Conference 2025: Corridor to Transform Vision to Reality, held at the Shangri-La Tanjung Aru Resort on Thursday, There are eight component parties in the GRS coalition, which is led by Chief Minister Datuk Seri Panglima Hajiji Noor. They comprise of PGRS, Parti Bersatu Sabah (PBS), Sabah Progressive Party (SAPP), United Sabah National Organisation (USNO), Parti Harapan Rakyat Sabah, Liberal Democratic Party (LDP), Parti Cinta Sabah (PCS) and Parti Solidariti Tanah Airku (STAR). Masidi also said Sabah's thriving tourism sector is a direct result of the State's decision to protect its wildlife and natural environment instead of opting for gold. He remarked that the people of Sabah made a conscious choice to preserve the State's lush greenery and biodiversity — choices that are now bearing fruit. 'We chose to keep the monkeys,' he quipped, referencing the metaphor 'Monkey or gold,' originally coined by a federal minister a few years ago. 'Tourism is our new gold,' he added. Masidi also highlighted a unique aspect of Sabah's tourism industry: it is the only economic sector in the state where 95 percent of the workforce comprises locals. 'In comparison, the plantation industry employs around 80 percent Indonesians, while the construction sector comprises about 70 percent Filipinos,' he said. When asked about the potential use of coal for power generation, Masidi stated that the people of Sabah were not keen on coal and the state government preferred to avoid it for as long as possible. 'Personally, I believe we should steer clear of it. There is simply too much at stake,' he said. 'We need to look at the long term. And the long term is about sustainability and repositioning Sabah in how it is viewed by other states, the country, and the world.' Masidi also noted that natural gas, like all other resources, is at risk of depletion if not managed properly. He emphasized that mitigation is crucial, explaining that the goal is to generate income and develop green energy industries without the unsustainable exploitation of Sabah's natural resources. Given Sabah's current low reserve margin in energy supply, he acknowledged that hindrances and difficulties may arise in achieving the state's green energy ambitions. In this regard, he stressed the federal government's important role in supporting Sabah's efforts.
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.
