Harun (fourth right) presenting the cheque of RM6.64 million to Pg Hassanel (second right), witnessed by Musa (third right) and other board members. – Photo by Haji Asmat Yahya
KOTA KINABALU: Chief Minister Datuk Seri Musa Haji Aman witnessed the dividends presentation by Progressive Insurance Bhd to the State Oovernment at Spice Island, Sutera Harbour Resort here last night.
Progressive Insurance Bhd’s chairman, Datuk Harun Datu Mansor presented the cheque of RM6.64 million to Finance Ministry’s Permanent Secretary, Datuk Pg. Hassanel Datuk Pg. Haji Mohd. Tahir.
Another cheque of RM513,000 was presented by Datuk Harun to Permodalan Bumiputra Sabah Bhd’s CEO, Datuk Freddie Sua.
Speaking at the event, Musa urged Progressive Insurance to be on guard to meet fresh challenges in the financial markets and the insurance sector.
This would enable the company to take immediate steps to overcome projected challenges whenever a problem or issue starts impacting on the insurance industry, he said.
“With a forward looking management team, and with investment that the company has put in training its employees and agents including through the online e-learning system, I am confident that Progressive Insurance will continue to chart higher dividends for its shareholders in coming years.
“As one of your main shareholders, the State Government is happy to note that the Progressive Insurance is continuing to reap profit and taking the necessary steps to remain an important player in the insurance sector,” he said at the Progressive Insurance dinner at Sutera Marina Club last night.
Musa, in his speech, said there is stiff competition in the insurance sector, with companies always striving to create new and better products to meet market needs.
Despite the prevailing challenges, he was impressed to see that Progressive Insurance has been doing well, judging from the figures mentioned by the company’s representative.
“I am pleased to note that 2012 was your best year in an almost 40 years corporate history, and that your Gross Revenue increased by 14 per cent.
“You are able to pay dividend payment of RM7.62 million to your shareholders, including the Sabah State Government. And this evening, the State Government is pleased to receive a dividend payment of RM6.64 million from Progressive Insurance.
“It is through dividends that we can boost socio-economic programmes for the people, and further develop the State,” he said.
Musa also reiterated that Sabah’s development which is on track via both State and Federal led projects.
“We have political stability and we are committed to security measures, and these factors are drawing investors’ interest in what Sabah has to offer, including in the oil and gas sector, apart from our engines of growth – agriculture, tourism and manufacturing.
“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,” added Musa.