Sabah devt on track – Musa
KOTA KINABALU: Sabah’s development is on track with both state and federal led projects, said Chief Minister Datuk Seri Musa Aman
Investors, according to the state Finance Minister, were continuing their interest in what Sabah has to offer, including in the oil and gas sector apart from the state’s engine of growth such as agriculture, tourism and manufacturing.
“Existing businesses and prospective ventures require insurance. I wish to call on Progressive Insurance to offer relevant and attractive packages to meet demand from new and existing business ventures in Sabah and beyond our state,” he said on Monday night before witnessing Progressive Insurance Bhd handing over its dividend payment cheque of RM3,309,632 to the state government.
Musa said it could not be denied that the insurance sector is facing stiff competition and constantly needed to address new challenges.
“Factored in with periodical financial instability in different parts of the world, it is certainly not easy to be a player in the insurance sector and I must commend Progressive Insurance for your achievements over the years.
“I am pleased to note that you have even revised upwards your projected revenue for this year and to learn that in the last eight years, you have declared gross dividends of over RM50 million to shareholders,” he said.
According to Musa, the state government, as a key shareholder, hoped that Progressive Insurance would remain on top of changes in the financial market and the insurance sector.
“By staying alert, Progressive Insurance can take quick steps to overcome projected challenges whenever a problem or issue starts impacting the ever changing insurance industry,” he pointed out.
“It is important you continue to uphold sound management practices, good corporate governance, transparency, accountability and efficiency as part of your daily operations.
“With a forward looking management team and with the investment that the company has put in training its employees as well as agents, I am confident that Progressive Insurance will continue to chart higher dividends for its shareholders in coming years,” he said.
Musa witnessed the dividend payment of RM3.3 million by Progressive Insurance Bhd presented by its chairman, Datuk Harun Datu Mansor to the state government, received by Finance Ministry permanent secretary Datuk Pengiran Hassanel Haji Pg Mohd Tahir at a dinner at Sutera Harbour Resort.
Source : Borneo Post
