Sarawak Energy's net assets increased to RM19 billion - Sharbini

KUCHING, Oct 8: Sarawak Energy Berhad's net assets increased to RM19 billion in 2026 from RM7 billion in 2016.

According to the Chief Executive Officer (CEO) of Sarawak Energy Group, Datuk Sharbini Suhaili, strengthening the financial position provides the necessary investment capacity to further expand the energy infrastructure and support the development of Sarawak.

"Throughout this period, we have consistently strengthened basic income, with net assets increasing to RM19 billion by 2026 from RM7 billion in 2016.

"This provides the financial resilience and investment capacity needed to further develop infrastructure, support Sarawak's development as well as explore new growth opportunities", he said while addressing the Farewell Dinner Meeting on his retirement at the Sheraton Hotel, here, on Wednesday.

He said the growth of Sarawak Energy was also supported by an increase in rural electricity supply coverage to 99.4 per cent as of June this year from 56 per cent in 2009.

He said the total number of customer accounts now exceeds 840,000, while the duration of power outages has also been significantly reduced, from more than 300 minutes in 2008 to 34 minutes as of June this year.

Sharbini said Sarawak Energy also expanded regional energy connectivity through the Northern Grid and first electricity exports to Sabah in 2025, as well as potential connections with Brunei, Peninsular Malaysia and Singapore.

According to him, the acquisition of Bakun Hydroelectric Plant in 2017 was also among the important investments that allowed Bakun and Murum to be operated as an integrated system, thus forming Malaysia's first circular power system.

Meanwhile, Sharbini described Sarawak Energy employees as the most he will miss after ending his tenure as Group CEO.

"Of all the achievements and successes achieved, Sarawak Energy workers are the thing I will miss the most.

"Leading and serving with them was among the most meaningful experiences of my 40-year career", he said.

Sharbini will terminate his contract as CEO of Sarawak Energy Group at the end of October and be replaced by Dato Ruslan Abdul Ghani from 1 November.

He believes Ruslan can lead Sarawak Energy to the next phase of growth based on their experience working together at Petronas. - TVS