Sabah govt receives RM6.1mil dividend payout from insurance arm PIB

KOTA KINABALU: Progressive Insurance Bhd (PIB), the Sabah government’s insurance arm, has paid a RM6.1mil dividend to the state administration.

PIB chairman Tan Sri Sukarti Wakiman presented a mock cheque for the amount to Chief Minister Datuk Seri Hajiji Noor in a brief ceremony at its head office at Menara Cosway in Kuala Lumpur on Tuesday (June 28).

PIB declared the sum as a single-tier dividend of RM6.18mil at 7.1 sen for each ordinary share in respect of the financial year ending Dec 31.

The dividend represents a return on capital employed (ROCE) of 5% to shareholders.

Hajiji, who is also Sabah Finance Minister, commended the PIB board and management for the good performance.

“PIB has worked hard to produce results despite the many challenges especially those brought on by the Covid-19 pandemic,” he said in a statement.

Among those present were State Secretary Datuk Seri Safar Untong and state Finance Ministry permanent secretary Datuk Haji Rusdin Riman, who is also PIB deputy chairman.

Earlier in the day, Hajiji and Safar attended the mentris besar and chief ministers meeting in Putrajaya chaired by Prime Minister Datuk Seri Ismail Sabri Yaakob.

Hajiji will accompany Sabah Yang di-Pertua Negeri Tun Juhar Mahiruddin to the two-day 259th Conference of Rulers meeting on Wednesday (June 29).