KOTA KINABALU: Sabah Economic Development Corporation (Sedco) recorded a 480 per cent increase in profitability for the financial year ended 2025, with profit before tax rising from RM3.6 million to RM21.1 million.
The corporation also reported strong growth across key financial indicators, with revenue nearly doubling to RM33.9 million, dividend income from subsidiaries increasing 85 per cent to RM26.2 million, cash reserves strengthening by RM27 million, and retained earnings rising to RM99.2 million despite dividend payments to the State Government.
The achievements were announced during Sedco’s Town Hall 2026, recently.
Group General Manager Datuk James Wong described the results as more than just a financial milestone.
“The numbers are important, but what they truly represent is hope and confidence. They demonstrate what can be achieved when an organisation comes together with a shared vision, clear direction and a commitment to excellence.
“This is proof that through unity, discipline and perseverance, we can build a stronger organisation that contributes meaningfully towards Sabah’s future,” he said.
Sedco returned RM10 million to the State Government in 2025 through dividends and loan repayments, among the highest contributions recorded in recent years.
James said the corporation was targeting contributions of RM20 million in 2026 and RM30 million in 2027.
“These are ambitious goals, but I firmly believe they are achievable. The progress we have made over the past year has shown us what is possible when everyone works together towards a common purpose,” he said.
He attributed the strong performance to the collective efforts of the Sedco Group, highlighting contributions from CIS Cement Industries, Nippon Paint Sabah, Hyatt Regency Kinabalu, 1 Care Consortium, Perkasa Hotels, Sabah Urban Development Corporation, Perkasa Realty, Sedco Travel, Sedcovest, Perkasa Trading and Sedco Precast, among other subsidiaries and business units.
James also expressed appreciation to Sedco Chairman Datuk Masiung Banah and Datuk Thomas Logijin, Permanent Secretary of the Ministry of Industrial Development and Entrepreneurship, for their leadership and guidance.
Sedco’s strategic priorities include expanding Bumiputera entrepreneur development through the Holistic Bumiputera Entrepreneur Development Programme, advancing major industrial initiatives and unlocking approximately RM1 billion in potential development and revenue opportunities through projects in the group’s pipeline.
James said Sabah was entering a new phase of economic growth driven by emerging industries, rising investments and technological advancement, with Sedco positioning itself to play a catalytic role in the state’s transformation.
“Across Sabah, opportunities are emerging. New industries are taking shape. New investments are arriving. New technologies are transforming the way we live and work.
“I firmly believe Sabah’s best years are still ahead of us, and Sedco has an important role to play in helping shape that future,” he said.
