00:00Sabah Finance Minister Masidi Manjun said,
00:04the success of SMJ Energy in generating oil and gas revenue as well as attracting foreign direct investment
00:10reflects the state's efforts to learn from past experiences.
00:15According to Masidi, SMJ Energy was established based on the awareness of mistakes made by previous administrations.
00:23Under the leadership of Chief Minister Hajji Noor,
00:27SMJ Energy has successfully secured significant commercial stakes in ONG projects,
00:33acted as a catalyst for local content development,
00:36and positioned Sabah to benefit more directly from the wealth of its ONG resources.
00:42SMJ Energy CEO Dionysa Kibat stated that in 2024 alone,
00:47the company contributed RM160 million in dividends to the state government
00:51and facilitated RM2 billion worth of contracts for local ONG service and equipment vendors in Sabah.
00:58Masidi emphasized that the Hajiji administration's priority is to deliver immediate returns to the people,
01:04rather than being bogged down by prolonged legal disputes.
01:08Sabah has recorded a short-term increase in FDI over the past few months,
01:13partly driven by its partnership with Petronas and the federal government,
01:17which is seen as more politically stable.
01:19SMJ Energy CEO
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