KUCHING: Over 300 of its staff and representatives of its group of companies recently attended the annual Presidential Address and Appreciation Day 2018 of Sarawak Economic Development Corporation (SEDC) at Riverside Majestic Hotel here.
The 2-in-1 event is part of SEDC corporate culture where the top management shares information on the corporation’s performance for the past year and its strategic direction and plans in the near future, especially in generating wealth for the group.
With the theme “Leaping Forward”, it was a significant event for the staff to hear about SEDC’s new direction as well as a joyous occasion for those who were given awards and recognitions for their outstanding performances.
“SEDC has performed well comparatively despite the challenges and global economic downturn,” said its Chairman, Tan Sri Datuk Amar (Dr) Haji Abdul Aziz bin Dato Haji Husain.
Having engaged in a diversified range of businesses and services, the corporation achieved a revenue of RM40.3 million in 2017 and an Operating Profit Before Tax (OPBT) of RM15.48 million.
For the group level, SEDC’s Group of Companies attained a total unaudited Profit Before Tax (PBT) of RM157.49 million, contributed largely by strong growth in the Mineral & Mining, Construction and Agro Sectors.
Aziz added that SEDC remained strong in its financial position with Total Assets amounting to RM1.29 billion as at December 31, 2017.
In terms of socio-economic performance, SEDC assisted 9,203 participants in 2017 and over 41,000 participants cumulatively over the years from its six major programmes and schemes to help the local entrepreneurs.
Aziz also announced that eight key projects had been completed last year. Among them were the iconic Darul Hana Bridge and Riverside Majestic Hotel Astana Wing, Borneo 744 Blue Ocean Entrepreneurships Township in Bintawa, upgrading of Sadong Wing Grand Margherita Hotel, new Medan Niaga Sri Aman, new Kuching Regional Office at UTC and the inaugural Kuching Waterfront Jazz Festival.
According to him, the corporation is expected to achieve a revenue of RM44.43 million this year mainly from its operations and a PBT of RM10.76 million. At the group level, it is expected to achieve a total PBT of RM134.59 million.
In line with its strategic plan to leap forward, SEDC, he said, would delve into manufacturing and transportation in the future in order to amplify its sources of revene and restructure its investment portfolio.
“This can be done by aligning our vision with the state’s vision,” added Aziz.
He explained that SEDC would undergo a paradigm shift by creating more room for creativity and leverage on ICT and digital economy as the corporation had been entrusted by the state government to take up big investments and projects which included the Kuching Urban Transportation, mega methanol production and nickel, alumina and glass manufacturing in the coming years.
With the Presidential Address, SEDC also held its Annual Appreciation Day which was the platform for the corporation to recognise and appreciate its employees’ contribution and performances.
89 people from the corporation and its group of companies received various awards, namely, State Award, Anugerah Perkhidmatan Cemerlang, Integrity Award, Staff Exemplary Award and 5S Awards. Apart from that, Certificates of Appreciation were presented to 117 recipients.
One of the highlights of the programme was the recital of the SEDC Pledge led by its General Manager, Haji Soedirman Haji Aini and its top management team, to reaffirm the corporation’s commitment towards good governance and work ethics.
Present were SEDC Deputy General Manager for Corporate Services, Hajjah Rakayah Hamdan, SEDC Deputy General Manager Commercial Sector, Edwin Abit, SEDC Management Team and CEOs of SEDC’s subsidiary and associate companies.
