Latest news with #CCA
Borneo Post
13 hours ago
- Business
- Borneo Post
Sabah aims to be regional OGSE hub with RM2 billion local contracts, says Masidi
Masidi (fifth from left) with KCCI and DCCI officials at the event on Saturday. KOTA KINABALU (June 28): Sabah's oil and gas sector is poised for greater local participation and global competitiveness as the State Government intensifies its push to position Sabah as a key pillar of Malaysia's energy security and a trusted investment destination. Sabah Finance Minister Datuk Seri Panglima Masidi Manjun said this when addressing members of the Kadazandusun Chamber of Commerce and Industry (KCCI) and the Dayak Chamber of Commerce and Industry (DCCI), along with industry players here. He said this when officiating the Business Opportunities and Challenges in Sabah's Oil & Gas Industry & The Way Forward forum organised by KCCI on Saturday. 'It is a privilege to stand before such an influential gathering of business leaders today,' he said, describing the oil and gas industry as the backbone of Sabah's economy. Masidi highlighted that Sabah consistently contributes nearly 40 per cent of the nation's oil and close to 20 per cent of its gas, resources he described as 'untapped potential, strategic relevance, and the opportunity to position Sabah as a central pillar of Malaysia's long-term energy security.' However, he stressed that recognising this potential was only the beginning. 'The real challenge lies in turning it into meaningful outcomes, especially for Sabahan vendors who have long sought greater access and participation,' he said. Masidi said this was why the State Government, working closely with Petronas under the proactive leadership of SMJ Energy, has been driving initiatives since the signing of the landmark Commercial Collaboration Agreement (CCA) in December 2021. 'The agreement not only affirmed Sabah's rightful role in shaping its energy future but also established a joint coordination committee focusing on upstream activities, domestic gas supply, equity participation, development of the Oil and Gas Services and Equipment (OGSE) industry, human capital and CSR,' he said. He noted that under Sub-Committee 4 (SC4) on OGSE development, Sabahan companies were awarded jobs exceeding RM2 billion in 2024, a three-fold increase from previous years. 'This reflects growing confidence in local capabilities,' he said, adding that the Sabah Local Content Council, chaired by SMJ Energy Executive Director Terry Biusing, has been instrumental in coordinating efforts between the State, Petronas, industry operators and local associations. Looking ahead, Masidi said Sabah aims to position itself not only as a production hub but also as a regional centre of excellence for OGSE innovation and sustainable energy practices. 'We are open for business, transparent, and aligned with the State's development blueprint. New players like ConocoPhillips, INPEX, Dialog Group and others are welcome alongside existing operators,' he said. He said the State Government wants investors to see Sabah not just as a resource base, but as 'a strategic hub to grow their business, form lasting partnerships, and build local OGSE capabilities.' Masidi also called on local businesses to match the government's commitment with action. 'Our unwavering commitment to prioritising Sabahan companies remains paramount. But this requires reciprocal dedication from local businesses – to actively invest in enhancing capabilities, forge strategic partnerships, and embrace innovation,' he stressed. He urged the Chambers of Commerce, especially KKCCI and DCCI, to 'be bold, be visionary, and be future-ready' by leveraging collective strength and encouraging joint ventures and consortia to bid for larger, more complex projects. 'This is how we collectively create greater value and unlock unprecedented growth,' he said. Masidi concluded with a rallying call to industry leaders: 'Let us work together to usher in a new chapter for Sabah's oil and gas industry – one defined by greater empowerment, genuine inclusivity, and meaningful local participation, all without compromising on safety, technical standards, quality, costs, or schedule.
New Straits Times
a day ago
- Business
- New Straits Times
Sabah's SMJ Energy now worth RM5b after three years of operation
PUTATAN: Sabah's state-owned oil and gas company, SMJ Energy Sdn Bhd, is estimated to be worth RM5 billion based on its current asset value after operating for just three years. Sabah Finance Minister Datuk Seri Masidi Manjun said this was a significant achievement for a company that began with only RM50 million in capital from a state government injection when it was founded three years ago. He said the success was due to SMJ Energy's investments in Petroliam Nasional Bhd (Petronas)-owned companies. "As many are aware, and as we have explained and announced on several occasions, SMJ Energy was established following the signing of the Commercial Collaboration Agreement (CCA) with Petronas three years ago. "The state government provided us with RM50 million in seed capital, and from that, we went on to invest in Petronas-linked companies. "According to the latest valuation, this RM50 million company is now worth RM5 billion, with a sizeable portfolio of assets," he told reporters after launching Petagas Gabungan Rakyat Sabah (GRS) annual general assembly here today. Masidi, who is also chairman of SMJ Energy, was commenting on the current performance of the Sabah government-linked company (GLC). He said the achievement was the result of the hard work of professionals hired to manage and operate the company, without political interference. "Our operations at SMJ Energy are fully commercial; that's the key factor behind the company's strong performance. "In fact, last year alone we recorded a profit of RM350 million, managed by a team of just 30 professional staff," he said. Masidi said SMJ Energy now also holds a 50 per cent stake in a Petronas oil field through the Samarang Production Sharing Contract (PSC).
The Star
2 days ago
- General
- The Star
Spotted: Endangered leopard in Bangladesh
This undated handout photo released by the Bangladesh's Creative Conservation Alliance and obtained on June 26, 2025 shows a leopard at the Chittagong Hill Tracts in Bangladesh. - AFP DHAKA: Photographs of a leopard snapped by camera traps in forests in Bangladesh's Chittagong Hill Tracts have raised hopes among conservationists working to save the critically endangered species. Bangladesh's Creative Conservation Alliance (CCA) issued pictures of the leopard emerging from lush green bush, celebrating the "evidence that these elusive big cats still persist" in the forested hills where Bangladesh borders India and Myanmar. "We have to ensure the protection of the species so that it doesn't become extinct," CCA research officer Sourav Chakma told AFP on Thursday (June 26). Leopards are listed as vulnerable as a species globally, according to the International Union for Conservation of Nature (IUCN), but critically endangered in the South Asian country of more than 170 million people, warning its population may no longer be viable. Zoologist Monirul Khan, of Jahangirnagar University, said previous reports of the elusive cats had been based on paw prints and fleeting sightings in the forest. "As an extremely rare and secretive species, the latest sighting is very significant", Khan said. "It highlights the importance of the remaining natural forest in the Chittagong Hill Tracts as a reserve of wildlife habitat." The predator was once widely seen in forested areas. Habitat loss, lack of prey and poaching are key contributors to the loss of leopards, experts say. Bangladesh is also home to tigers, now found only in the vast Sundarbans mangrove forests that straddle the border with India. On the Bangladesh side, the latest survey released in October 2024 recorded 125 tigers, up from 114 in 2019. - AFP
Glasgow Times
2 days ago
- Politics
- Glasgow Times
Glasgow venue closes to 'prioritise safety' after protest
The Centre for Contemporary Arts (CCA) in Glasgow city centre announced it will be shut after a crowd attempted to stage a takeover on Tuesday. On social media, the spot announced: "In light of recent events and ongoing conversations involving the Centre for Contemporary Arts (CCA), we've made the decision to keep the building closed to the public for the remainder of this week. "This is not a decision we take lightly, but we recognise the need to pause. The temporary closure will allow us to prioritise the safety and well-being of our staff and partners, and to create space for reflection. "We understand the strength of feeling being expressed by our community, and we remain committed to engaging with this moment thoughtfully. "We will be sharing further updates in the coming days. Thank you for your support, and for your patience." Glasgow venue closes to 'prioritise safety' after protest (Image: Newsquest) READ NEXT: LIVE: Huge police presence in city centre as activists stage takeover Palestine protestors took over CCA in Glasgow city centre (Image: Newsquest) We reported at the time that a group of activists staged a sit-in. The action prompted a huge police response, with three police buses, four vans, and a patrol car deployed to the scene. Officers were observed both inside the CCA building and stationed outside on the street. According to the group, the demonstration was sparked by the CCA board's refusal to adopt a Boycott, Divestment and Sanctions (BDS) policy or to endorse the Palestinian Campaign for the Academic and Cultural Boycott of Israel (PACBI).
NDTV
2 days ago
- General
- NDTV
"Extremely Rare" Endangered Leopard Spotted In Bangladesh Forest
Photographs of a leopard snapped by camera traps in forests in Bangladesh's Chittagong Hill Tracts have raised hopes among conservationists working to save the critically endangered species. Bangladesh's Creative Conservation Alliance (CCA) issued pictures of the leopard emerging from lush green bush, celebrating the "evidence that these elusive big cats still persist" in the forested hills where Bangladesh borders India and Myanmar. "We have to ensure the protection of the species so that it doesn't become extinct," CCA research officer Sourav Chakma told AFP on Thursday. Leopards are listed as vulnerable as a species globally, according to the International Union for Conservation of Nature (IUCN), but critically endangered in the South Asian country of more than 170 million people, warning its population may no longer be viable. Zoologist Monirul Khan, of Jahangirnagar University, said previous reports of the elusive cats had been based on paw prints and fleeting sightings in the forest. "As an extremely rare and secretive species, the latest sighting is very significant", Khan said. "It highlights the importance of the remaining natural forest in the Chittagong Hill Tracts as a reserve of wildlife habitat." The predator was once widely seen in forested areas. Habitat loss, lack of prey and poaching are key contributors to the loss of leopards, experts say. Bangladesh is also home to tigers, now found only in the vast Sundarbans mangrove forests that straddle the border with India. On the Bangladesh side, the latest survey released in October 2024 recorded 125 tigers, up from 114 in 2019.
