YS Group's income exceeds RM1 billion
Published on: Saturday, December 16, 2017
Kota Kinabalu: The Yayasan Sabah Group (YSG) continued to record outstanding financial performance with estimated income of RM1.05 billion compared to last year's RM850.33 million – an increase of RM200 million or 24 per cent.Yayasan Sabah Director Datuk Sapawi Ahmad said such excellent record was achieved due to the leadership of Chief Minister Tan Sri Musa Aman and his encouragement and injection of spirit to YSG and its subsidiary companies to perform well."YSG has 57 subsidiary companies of which 37 are active in various sectors and as a result, YSG recorded an estimated profit of RM235 million this year compared to real profit of RM50 million, last year.ADVERTISEMENT "These subsidiary companies have shown a surge of profit by RM185.3 million or 375 per cent which is a remarkable achievement."Those sectors that contributed to the highest income this year are agro plantation with estimated record profit of RM166 million, oil and gas sector contributed estimated profit of RM42 million and tourism with its estimated profit of RM38 million," he said at the Yayasan Sabah Group Awards Night 2017 that was officiated by Chief Minister Tan Sri Musa Aman, Friday.Also present were Musa's wife Puan Sri Faridah Tussin, Yayasan Sabah Deputy Director Datuk Rosmawati Lasuki, and other senior officials.Sapawi said YSG is also proud to share performance of its subsidiary companies whereby 13 of them, including its alliance companies, have presented RM232.5 million in dividends to YSG via Innoprise Corporation Sdn Bhd (ICSB) for 2016 and 2017.ADVERTISEMENT The 13 subsidiary companies are Innoprise International Incorporated that contributed more than RM82 million in dividends, Tanjong Aru Hotel Sdn Bhd (RM44.7 million), Awan Inspirasi Holdings Sdn Bhd (RM26 million), NRG Consortium (Sabah) Sdn Bhd (21.7 million), Hap Seng Plantations Holdings Berhad (19.2 million), Shell Timur Sdn Bhd (RM13.5 million), Benta Wawasan Sdn Bhd (RM8.6 million), Sabah Softwoods Berhad (RM7 million), Innoprise Plantations Berhad (RM4.8 million), Norsechem (Sabah) Sdn Bhd (RM2.3 million), Innovision (PNG) Private Limited (RM2 million), Borneo Nature Tours Sdn Bhd (RM367,000) and Innoprise Jungle Lodge Sdn Bhd (RM214,000).Sapawi urged these subsidiary companies to continue improving their performance so that the organisation's investment of RM1.7 billion could render better returns.
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He said the presentation of dividends help the YSG to continue making efforts and carry out programmes that enhance quality life of Malaysians in Sabah."For this year, more than 3,800 students benefitted from the study loan sponsorships, higher learning scholarships, and secondary school scholarships apart from its counselling programme and education carnival, with total expenses of RM25.7 million.Stay up-to-date by following Daily Express’s Telegram channel.
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"As of now, the education development division has spent RM648 million that benefitted 97,680 students in the education sponsorship programmes."Apart from this, YSG also implemented various social programmes through certain divisions and six offices at zone level whereby we have spent more than RM3.8 million and more than 85,000 people throughout Sabah have gained the positive impact," Sapawi said. - Hayati Dzulkifli