Yayasan Sabah Group registers profit of RM116.5m

The state government-owned Sabah Foundation or Yayasan Sabah Group has registered a provisional profit of RM116.54 million for this year, far exceeding the RM66.75 million recorded last year.

Its Director, Tan Sri Datu Khalil Datu Jamalul, said the profit represented
a rise of RM44.79 million from last year's actual profit.

He said this in his year-end speech given at the Sabah Foundation's annual
dinner here Tuesday night.

Also present at the event was Chief Minister Datuk Seri Musa Aman who is
also Chairman of the Sabah Foundation Board of Trustees.

The rise in profit this year was attributed to gains in the agro plantation
sector, oil and gas, as well as forestry, real estate and biotechnology.

"Although the other sectors have not been able to provide positive
contribution, we are taking strong efforts to improve the situation," Musa said.

Meanwhile, Datu Khalil said the Yayasan Sabah Group aimed to collect back
RM5 million from those who had taken study loans from the foundation.

As of November, it has been able to collect repayments amounting to RM4.9
million and the foundation is confident of meeting its target by end of the
year. -- Bernama