OIL, GAS AND ENERGY

Yayasan Sabah Group has diversified into the oil, gas and energy sector as one of its investments under the Group’s commercial arm.

Shell Timur Sdn. Bhd.

Shell Timur Sdn. Bhd. (STSB) was incorporated in January 1984 as Shell Marketing Company of Borneo Limited. The Group owns a 15 per cent equity stake in STSB.

The company’s main activities are the marketing of petroleum products for Shell throughout Sabah (including the Federal Territory of Labuan) and Sarawak. It operates 11 petroleum deports and consider manages 166 retail petrol stations in both States.

NRG Consortium (Sabah) Sdn. Bhd.

NRG Consortium (Sabah) Sdn. Bhd. was incorporated on 18 September 2006 as a wholly-owned subsidiary of the Group. The company entered a Joint Venture with PETRONAS Gas Berhad (PGB) to establish Kimanis Power Sdn. Bhd. (KPSB) to jointly develop and operate Kimanis Power Plant, a 300MW combined cycle gas-fired power plant in Kimanis, Sabah.

KPSB was incorporated on 22 December 2008 with a shareholding of 60 per cent of PGB and the remaining 40 per cent of NRG. KPSB owns the Kimanis Power Plant, which was fully commissioned on 7 November 2014 to supply electricity of Sabah Electricity Sdn. Bhd. (SESB) State grid.

NRG and PG Energia Sdn. Bhd. (a wholly-owned subsidiary of PGB) will soon enter into a Joint Venture to jointly develop a new 100-megawatt Gas-Fired Peaking Power Plant located at Kimanis, Sabah.

Petrosabah Sdn. Bhd.

Petrosabah Sdn. Bhd. (PSSB) was incorporated on 26 January 2016. PSSB aims to spearhead the renewable energy subsidiaries of the Group. PSSB has entered into various Joint Venture collaborations with several parties to develop multiple mini-hydropower plants located at Bengkoka Kudat, Telekosang, Tenom and Ulu Padas, Sipitang, with a combined generating capacity of around 230MW. PSSB is also in the process of collaborating with several parties to develop some solar power projects on the East Coast of Sabah. Once all these ventures are operational, they are expected to be a sustainable income contributor for the Group.