| Sarawak
Enterprise Corporation Berhad ("SECB") was incorporated in 1967 as Dunlop
Estates Bhd and listed on the Kuala Lumpur Stock Exchange in the
same year. In 1996, the State Government of Sarawak acquired a
controlling 51.5% equity interest in SECB. Multi-Purpose Holdings Berhad remains the second
largest shareholder in Sarawak Enterprise with an equity interest
of 22%.
SECB is principally involved in utilities through its
45% equity interest in the Sarawak Electricity Supply
Corporation ("SESCo"),
the State controlled electricity monopoly which has been conferred
with the sole and exclusive right to generate, transmit and
distribute electricity in the State of Sarawak until 2042. In july
1997, the State Government of Sarawak granted a 33-year licence to
SECB's wholly-owned subsidiary, Sarawak Power Generation Sdn Bhd
("SPG") to develop, work and operate independent power
plants in Bintulu, Kuching and Miri for the generation and supply of
electricity to or for the use of SESCo in the State of Sarawak. SPG
currently manages and operates two 100 MW gas turbine generator
units located at Tanjung Kidurong, Bintulu.
Property - SECB is also a major landowner in Sarawak
with 5000 hectares of agricultural land at SG. ASAP near the Bakun resettlement
area and 46,322 square metres of commercial land at Petra Jaya, the new State
Administrative Centre in the State capital of Kuching. SECB has also developed a
33-storey offcie block, "Menara Sarawal Enterprise", in the central
business district of Johore Bahru, through wholly-owned subsidiary, Jayalah
Cemerlang Realty Sdn Bhd.
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Manufacturing
 In 1996, Sarawak Enterprise ventured into the manufacturing sector
through the acquisition of a strategic 30% equity interest in Great
Wall Plastic Industries Berhad ("GWPI"), a manufacturing company listed on the Kuala Lumpur Stock Exchange.
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Group
Financial Results : 1st Quarter 2001