KOTA KINABALU: SMJ Energy Sdn Bhd has reaffirmed the importance of Sabah’s equity participation and ownership in PETRONAS Chemicals Fertilizer Sabah Sdn Bhd (PCFSSB), better known as the Sabah Ammonia Urea (SAMUR) project.
The Sabah State Government’s wholly-owned energy investment vehicle said the state, through SMJ Energy, holds a 25 per cent equity stake in SAMUR under a commercial collaboration agreement (CCA) with the national oil company.
According to the statement, Sabah has continued to receive consistent financial returns from its strategic equity participation in SAMUR since the signing of the Share Purchase Agreement (SPA) on April 25, 2023.
It said dividends from the project are channelled directly into the state coffers through SMJ Energy for the benefit of Sabahans.
“To suggest that Sabah receives less than what is due from SAMUR is baseless as it disregards the State Government’s drive, favourable commercial terms and strategic decisions that successfully secured Sabah’s ownership in one of the region’s most important petrochemical assets,” the statement said.
SAMUR is currently recognised as the largest single-train granular fertiliser facility in Southeast Asia and the third-largest fertiliser plant in the Asia-Pacific region.
Built on Sabah soil and powered by Sabah gas, the project has positioned Sabah as an important player in the regional fertiliser and petrochemical industry.
SMJ Energy said the positive impact of SAMUR extends beyond the plant itself, with the Sipitang Oil and Gas Industrial Park (SOGIP), where SAMUR serves as the anchor project, attracting substantial committed investments.
The development has also generated significant employment opportunities for Sabahans in engineering, logistics, infrastructure, housing, hospitality and technical services.
“These developments represent long-term, place-based growth that is increasingly being felt across communities in Sipitang and the broader region,” it said.
SMJ Energy also reaffirmed that the Sabah State Government will continue pursuing strategic investments and strengthening partnerships with PETRONAS and other industry players to ensure Sabah’s natural resources continue generating long-term value and sustainable economic benefits for the people of Sabah.
