Kota Kinabalu: SMJ Energy Sdn Bhd has declared and paid a RM50 million dividend to the Sabah State Government for the financial year ending Dec 31, marking another year of returns from the State-owned energy company.

The payment brings total dividends paid to the State to RM160 million since 2023, more than tripling the government’s initial RM50 million investment in the company over a three-year period.

According to the company’s 2024 audited accounts, SMJ Energy recorded a profit after tax of RM307 million, with group assets reaching RM4.9 billion. 

The company operates across the upstream oil and gas sector, liquefied natural gas (LNG) and petrochemicals.

Chief Executive Officer Datuk Dr Dionysia Kibat attributed the dividend payment to operational performance and financial management.

“We are proud to close 2025 on solid ground. This dividend reflects our strong cash flow position and our commitment to ensure Sabah benefits meaningfully from its own resources,” she said.

SMJ Energy holds an AAA rating from RAM Ratings. The company has been expanding its operations across the energy value chain since its establishment with state funding in 2022.

The dividend represents a direct return to state coffers from Sabah’s oil and gas resources, which have long been a source of revenue discussion between the State and Federal governments.