Latest news with #SMJEnergySdnBhd
Daily Express
14-05-2025
- Business
- Daily Express
Latest SMJ Energy crude oil sale generates RM92 million
Published on: Thursday, May 15, 2025 Published on: Thu, May 15, 2025 Text Size: The company's Samarang Production Sharing Contract (PSC), an offshore asset located in Sabah waters, continues to be a reliable revenue source for the energy provider. Kota Kinabalu: SMJ Energy Sdn Bhd (SMJ Energy) completed its ninth crude oil lifting operation at the Labuan Crude Oil Terminal, generating approximately RM92 million in sales revenue. The latest sale brings SMJ Energy's total oil and gas revenue to roughly RM1.7 billion since operations began, with RM158 million generated in 2025 alone. The company's Samarang Production Sharing Contract (PSC), an offshore asset located in Sabah waters, continues to be a reliable revenue source for the energy provider. The Samarang field serves as the exclusive natural gas supplier to Kota Kinabalu Industrial Park and powers three gas plants in the Kota Kinabalu area. Additionally, the field supplies natural gas to Labuan, providing essential energy to the Labuan Methanol Plant and the SESB Power Plant on the island. SMJ Energy continues to explore further optimisation opportunities within the field to enhance output and maximize returns. * 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
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.
