Sabah income from statutory bodies, GLCs down nine pc to RM139m
KOTA KINABALU, Oct 31 — Sabah has received a total of RM138.7 million in dividends and contributions from its statutory bodies and government-linked companies so far this year, said Chief Minister Datuk Seri Hajiji Noor.
Although he commended the statutory bodies and GLCs for being profitable and capable of paying dividends, he said this was 8.8 per cent lower than the amount received last year.
“It is a little bit disappointing. All the statutory bodies and GLCs need to beef up efforts to generate more income in the years ahead,” he said at the closing ceremony of the board of directors course and presentation of dividend and contribution here today.
His speech was read by Sabah Finance Minister Datuk Seri Masidi Manjun.
The “youngest” state GLC, SMJ Sdn Bhd (SMJSB), paid RM50 million.
The other entities paying dividends were Sabah Credit Corporation (RM17 million), KKIP Sdn Bhd (RM12 million), Sabah Energy Corporation Sdn Bhd (RM12 million), Innoprise Corporation Sdn Bhd (RM3.568 million), Desa Plus Sdn Bhd (RM2million), Sabah International Dairies Sdn Bhd (RM1 million), Borneo Development Corporation(RM355,320), Sabah Air Aviation Sdn Bhd (RM305,210) and Keningau Agro-VentureSdn Bhd (RM500,000).
The Sabah Rubber Industry Board gave RM1.5 million while Sabah Ports Authority, Sabah Forest Development Authority(Safoda), Rural Development Corporation (KPD), and Sabah Land Development Board (SLDB) each contributed RM1 million.
The chief minister also said the boards of statutory bodies and GLCs must exercise good corporate governance from the perspective of administration and evaluation to ensure that the company and statutory bodies’ security is assured.
“Board members with good ethics and morals would be able to steer their companies to spur economic growth beside enhancing strategic planning,” he said.
In this respect, Hajiji singled out Sawit Kinabalu as a benchmark for state GLCs and statutory bodies to emulate, for it had shown strong resilience and competitiveness in the industry despite facing uncertain palm oil commodity prices.
“At the same time, each agency must be smart and thrifty in their spending as well as prioritising a good return to protect the company’s welfare, maintain performance and contribute to the state’s socio-economy development,” he said.
