RM10m Warisan Harta dividend to State Govt
Published on: Wednesday, November 23, 2016
Kota Kinabalu: The State's investment arm, Warisan Harta Sabah Sdn Bhd (WHSSB), has been reminded to be vigilant and extra cautious when choosing the types of businesses and investments so as to prevent unnecessary losses.Chief Minister Datuk Seri Musa Aman said it is imperative WHSSB carefully select any money-spinning businesses and investments that are offered to it."The State Government is fully aware that its wholly-owned WHSSB has been generating huge profits that benefit the State Government and the people.
ADVERTISEMENT
"Hence, the management must be wary and choose potential business opportunities after thorough discussions and studies have been made and proven to benefit the State Government."I am also urging the State Government-linked company to continue upholding integrity and practise efficient management so that it could keep on generating revenues and channel the State Government with profits and dividends that can be utilised for the people's development in Sabah."In fact, I am pleased with the sustainable growth of WHSSB's performance, I was briefed by its Chairman Datuk Ramlee Marahaban that since its incorporation on April 6, 1995, WHSSB has distributed dividends totalling RM222.7 million (gross) to the State Government," he said.Musa, who is also Finance Minister, said this when witnessing the presentation of the 2015 final dividend distribution of RM10 million in the form of a mock cheque by WHSSB Chairman Datuk Ramlee Marahaban to Finance Ministry Permanent Secretary Pengiran Hassanal Pengiran Mohd Tahir at the State Legislative Assembly building here, Tuesday.
ADVERTISEMENT
Ramlee announced that WHSSB had declared a Tax Exempt Final Dividend totalling RM5 million or 0.011 sen per share for the financial year ended Dec 31, 2015 to the State Government, being the 100 per cent shareholder of WHSSB.Also present were State Secretary Tan Sri Sukarti Wakiman and WHSSB officials.
ADVERTISEMENT
Musa was also pleased that WHSSB made a total dividend distribution of RM10 million for 2015 with RM5 million as interim dividend paid out in January this year and another RM5 million declared as a tax exempt final dividend that was announced at the event here.He reiterated his call for WHSSB to manage their resources and business undertakings well with good governance and competency to maintain progressive performance and the ability to generate high revenues and profits.Earlier, Ramlee briefed Musa on the overall financial performance of WHSSB.He said the dividend presentation marked WHSSB's continued positive performance and ability to generate income for the State Government."At group level, WHSSB reported a higher net profit of RM63.58 million for financial year 2015 compared to RM31.99 million in financial year 2014, which was mainly attributed to the recognition of income derived from a property development project undertaken by an associate company (Suria) despite lower revenues for the financial year under review."The revenue recorded at group level for the year under review had decreased to RM86.01 million compared to RM96.52 million in the previous year. The revenue recorded at company level had declined from RM24.11 million (2014) to RM18.94 million in 2015," he said.Moving forward, Ramlee said WHSSB will continue with its current strategic business ventures in various areas such as renewable energy, healthcare related facilities, logistics support, telecommunications and property development sectors in order to sustain the company's role as the strategic investment arm and creation of sustainable income for the State Government.He said WHSSB and its group of companies continued to fulfil its corporate social responsibility (CSR) agenda by contributing financial and non-financial aids for orphans, the underprivileged rural communities and the disabled as well as paying business tithes to the State Government via the Sabah Tithe Centre.On its current development, he said WHSSB is aggressively pursuing the implementation of new telecommunications and ICT infrastructure projects through wholly-owned subsidiary Common Tower Technologies Sdn Bhd (CTTSB).Ramlee said WHSSB has announced that the said company had commenced the fibre optic submarine cable laying works for the Labuan- Brunei Cable system which was launched on Nov 18, this year in Labuan."CTTSB had also recently received a Letter of Intent (LoI) from the State Government to implement the Safe City initiative for Sabah in collaboration with Huawei Malaysia as a technology partner."In order to expand the Safe City concept further, CTTSB would explore a collaborative project with a renowned telecom industry player to develop the Smart City initiative for Sabah in the near future."To facilitate the State's effort to provide broadband connectivity for the vast population of countries in the Bimp-Eaga region, CTTSB has been approached by the Indonesian telecom giant to explore another submarine cable system linking Kalimantan, Indonesia to Sabah," he said.Ramlee assured that WHSSB's efforts would be implemented based on sound business judgment principles, transparency and good governance which will ensure the strategic projects are viable and are able to be carried out under private funding initiatives.Stay up-to-date by following Daily Express’s Telegram channel.
Daily Express Malaysia
