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Daily Express
16-07-2025
- Business
- Daily Express
Cement Industries Sabah makes RM25 million payout to shareholders
Published on: Wednesday, July 16, 2025 Published on: Wed, Jul 16, 2025 Text Size: Sumardi (third left) and Japlin (middle) posing with official representatives of Sedco, Sabah Ports Authority and Tasek Corporation Berhad showing mock cheques of their respective amount dividend payout for 2024 given by CIS here. Kota Kinabalu: Cement Industries (Sabah) Sdn Bhd (CIS) is pleased to announce a dividend payout of RM25 million to its shareholders for the financial year 2024, reflecting the company's solid financial performance and ongoing commitment to growth and good governance. CIS General Manager Sumardi Mohd Yusof presented the dividend while witnessed by its Chairman Datuk Japlin Akim along with the Board of Directors during the Company's 2nd Board Meeting of 2025. Advertisement Of the total dividend, CIS statement on Tuesday stated that Sabah Economic Development Corporation (SEDCO) and Sabah Ports Authority (SPA), representing the Sabah State Government's interests, collectively received RM17.5 million, while Tasek Corporation Berhad received RM7.5 million. This strong dividend performance is underpinned by CIS's audited net profit of RM36.7 million in FY2024, and continued positive momentum with RM33 million in net profit recorded for the first half of 2025. CIS's enhanced profitability and improved cement supply performance are the result of strategic actions undertaken over the past year, including: Strengthening of its tendering and procurement Standard Operating Procedures (SOPs), encouraging open tender participation without prejudice to foster fairness and competition. Implementing enhanced corporate governance practices, including a transparent tendering committee and a board comprising independent technical professionals. Reinforcement of its management team by recruiting capable young professionals, while investing in ongoing leadership training and succession planning. Executing major plant upgrades and improving maintenance protocols, significantly reducing downtime and ensuring consistent cement supply to meet market demand. Delivering measurable results, substantial improvements in financial performance as well as competency of the CIS management team has led to this year's RM25 million dividend payouts to shareholders. The Board and Management of CIS, led by Sumardi and the newly appointed SEDCO Group General Manager, Datuk Ar. James Wong, reaffirm their commitment to strong, transparent, and accountable corporate governance. Looking ahead, CIS is confident in its ability to sustain profitability and continue delivering increased value to its shareholders, especially to the State of Sabah. * 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
Daily Express
09-05-2025
- Business
- Daily Express
Tawau Port delays hurting Sabah exporters, says STIA
Published on: Friday, May 09, 2025 Published on: Fri, May 09, 2025 Text Size: Filepic of Tawau Port. - Sabah Ports Authority website KOTA KINABALU: Sabah Timber Industries Association (STIA) has urged the government to urgently resolve longstanding issues plaguing Tawau Port, which continue to disrupt cargo shipments and affect industry operations. Its president, Tan Peng Juan, said poor port facilities, particularly the breakdown of the only two cranes used for loading, have resulted in serious delays, demurrage costs and the cancellation of scheduled vessels such as the May 11 shipment. He said the number of feeder vessels calling at Tawau Port has declined drastically, from two per week to one every fortnight, signalling a worsening logistical bottleneck. Currently, STIA members have 80 containers stuck since April 18 and another 96 awaiting shipment, with trucking to Kota Kinabalu incurring an added RM2,000 per container, which the industry cannot afford. Tan called on the Sabah Public Works Ministry and Sabah Ports Sdn Bhd to act immediately on the congestion while also investing in long-term solutions to prevent future disruptions. * 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
