KOTA KINABALU: Ailing utility company Sabah Electricity Sdn Bhd (SESB) is not owned by Sabah yet, says the company’s chief executive officer.
“Tenaga Nasional Bhd (TNB) is still the major shareholder in SESB, and the state has not taken it over,” said Mohd Yaakob Jaafar in a statement Thursday (Jan 4).
He added that Sabah only owns 17% of SESB shares.
He said only the control over the electricity industry in Sabah is returned to the state through the Energy Commission of Sabah (ECoS).
Yaakob said SESB is committed to its vision and mission to provide stable and reliable power to the people in Sabah and Labuan at a rational rate.
He said SESB is managed by two entities, which are the Energy Commission of Malaysia and ECoS.
The takeover of power management by the Sabah government is in line with various efforts to allow the state to be directly involved in the oil and gas industries in Sabah.
This is for the benefit of Sabahans, Yaakob said following the passing of three bills relating to this at the Special State Assembly on Wednesday (Jan 3).
The three bills are an Enactment to amend the Energy Commission of Sabah Enactment 2023, the Electricity Supply Bill, and the Sabah Renewable Energy Bill 2024.
