NEWS & UPDATES
Sarawak Energy Updates Sukuk Musyarakah Programme Investors on Projects and Future Growth Aspirations
Group CEO Sharbini Suhaili presents Performance and Financial Highlights at Investors Townhall Session
KUCHING, 17 AUGUST 2018, FRIDAY: Sarawak Energy updated its current and potential investors on the Group’s business including its projects and future growth aspirations at an Investors’ Townhall session held in Kuala Lumpur on 15 August, 2018.
The event saw a positive turnout of over 100 representatives from foreign and local financial institutions including pension funds, asset management companies, banks and insurance entities who have invested or are considering investing in Sarawak Energy’s Sukuk Musyarakah Programme.
Group Chief Executive Officer Sharbini Suhaili delivered a comprehensive presentation including the Group’s performance and financial highlights as well as growth trajectory over the last decade.
As part of its commitment to transparency and good practice, Sarawak Energy organises investors update sessions to ensure this key stakeholder group are kept well-informed of the business. This session marked the first investors townhall since the acquisition of Sarawak Hidro Sdn Bhd, which owns the 2,400 MW Bakun hydroelectric plant, in August last year.
Sharbini also took the opportunity to update the audience of the recent RAM Ratings report on Sarawak Energy, which was released prior to the townhall.
“RAM Ratings have reaffirmed our AA1 credit rating for Sarawak Energy's Sukuk Musyarakah Programme and have revised our long term rating outlook from stable for 2011 to 2017 to positive. This was mainly due to strong uptrend in electricity sales and these sales were also complemented by cost savings following the acquisition of Sarawak Hidro Sdn Bhd, which in turns owns the Bakun hydroelectricity plant, in 2017,” Sharbini said.
“This is especially important for Sarawak Energy in playing our role to serve our customers throughout the state with affordable, reliable and renewable energy as well as to power Sarawak Corridor of Renewal Energy (SCORE),” he continued.
The townhall also provided a platform for Sarawak Energy’s senior management to directly address questions during a panel question and answer session. Sharbini was joined by Alexander Chin, Chief Financial Officer; James Ung, Chief Executive Officer, SEB Power; Lau Kim Swee, Chief Executive Officer, SESCO; and Ting Ching Zung, Executive Vice President, Strategy and Corporate Development.
Sharbini (standing at right) addressing the guests during the townhall.
Sharbini (centre) together with (from left) Lau, Chin, Ting and Ung taking questions from the guests.
Sharbini updating the guests on the latest development and future plan in Sarawak Energy