SMJ Energy Sdn Bhd reported a 40% increase in profit for 2024, reaching RM362 million, up from RM259 million in 2023. This growth was driven by strong asset contributions, including the Samarang PSC, LNG Train 9, and FPSO/FSO under Sabah International Petroleum (SIP).
Chairman Datuk Seri Panglima Masidi Manjun credited the company’s performance to its professional team and collaboration with PETRONAS.
He also noted that SMJ Energy’s diversified portfolio ensures financial resilience despite global market volatility.
SMJ Energy further supported Sabah’s economy, awarding RM2 billion in contracts to local companies in 2024, a significant rise from RM613 million in 2021.