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Malaysian Petronas to invest RM18b in corporate social investment

Malaysian Petronas to invest RM18b in corporate social investment

KUALA LUMPUR: Petroliam Nasional Bhd (Petronas) will invest about RM18 million over the next four years to implement three of its corporate social investment (CSI) initiatives in Sabah.

In a statement, Petronas said the programmes launched yesterday were Planting Tomorrow, Food Basket and Youth Development.

They will be carried out in collaboration with several partner organizations.

“The aim is to help raise the standards of living among the communities in a number of rural areas as well as to support the development of Sabahan youths through sports,” it said.

Chairman Tan Sri Sidek Hassan said each programme was envisioned to reach out to those in need and help them realise their dreams and potentials even if these were seemingly beyond their reach.

“Inspired by this, Petronas strives to implement effective and sustainable social programmes that bring the focus back to the needs of the community,” he said.

Petronas said several more initiatives were also in the pipeline, including the construction of a Majlis Amanah Rakyat Junior Science College in Ranau and two rural hostels in selected schools, which would be launched later this year.

Petronas had, between 2011 and 2016, had invested RM184.8 million to carry out numerous programmes, including RM83 million towards the conservation of Imbak Canyon in partnership with Yayasan Sabah, it said.

“Other programmes involved are Petronas Education Sponsorship Programme, implementation of Trust Schools in Sabah, Program Sentuhan Ilmu Petronas, Program Sentuhan Kasih, as well as Vocational Institution Sponsorship & Training Assistance,”it said.

Meanwhile, Sabah Chief Minister, Datuk Seri Musa Aman, said the initiatives launched by Petronas, amid challenges in the oil and gas industry, signified a strong social responsibility commitment from it for the people of Sabah.

“I believe the programmes will go a long way in our efforts to address poverty and raise the standards of living among the community,” he said.