Latest news with #Petronas-linked
Focus Malaysia
5 days ago
- Business
- Focus Malaysia
Buying in tech, Petronas-linked counters pushes FBM KLCI to intraday high at the close
PERSISTENT buying momentum, mostly seen in selected technology and Petronas-linked counters pushed the FBM KLCI to record another intraday high at the close today, extending its rally to five consecutive trading sessions, an analyst said. Malaysian Pacific and Petronas Dagangan were among the top two gainers, rising RM1 and 44 sen to RM22.40 and RM21.70 respectively. At 5 pm, the FBM KLCI rose 8.68 points, or 0.56 per cent, to 1,550.21 from Tuesday's close of 1,541.53. The benchmark index opened 1.8 points lower at 1,539.73 and subsequently hit its lowest level of 1,539.18 in early trade. The broader market was broadly positive with 531 gainers outpacing 442 decliners, while 498 counters were unchanged, 920 untraded and 14 suspended. Turnover rose to 3.11 bil units worth RM2.38 bil against 2.05 bil units worth RM2.15 bil on Tuesday. —July 2, 2025
New Straits Times
27-06-2025
- 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).
