Sabah not selling its SESB stake just yet

  • Nation
  • Friday, 01 Dec 2006 

KOTA KINABALU: The Sabah government will maintain its 20% stake in Sabah Electricity Sdn Bhd (SESB) until the utility company yields regular returns. 

Chief Minister Datuk Musa Aman told the State Assembly that it would not be wise to give up its minority stake in SESB, a subsidiary of Tenaga Nasional Bhd. 

“When the time is right and the company is making profits and a strong bumiputra concern is ready to take over, the government will consider handing over its shares,” he told Datuk Mohd Lan Alani (BN – Sulabayan). 

Replying to Mohd Lan’s original question, state Assistant Finance Minister Datuk Sapawi Ahmad said SESB recorded profits for the first time during the 2005/06 financial year but had not declared any dividends. 

Sapawi said the state had no intention of matching the RM1mil MP allocation for state assemblymen. 

He told Justin Guka (BN – Bingkor), that the RM500,000 allocation for assemblymen next year should be sufficient for minor projects in their constituencies. 

He noted that the state constituencies would also enjoy the RM1mil parliamentary allocation. 

Assistant Minister of Rural Development Datuk Taufiq Abu Bakar Titingan said measures to tackle the high poverty rate was paying off, with the number of hardcore poor having declined 21% compared with five years ago. 

He said 23,589 people were listed under the category as of June 2006 compared with 29,889 in 2000 and 2001. They included 5,482 folks aged above 65 and 4,015 disabled.  

The House later passed the 2007 Budget and Supplementary Supply Bill totalling RM67.5mil before adjourning sine die.  

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