RM100m dividend from 14 statutory bodies, GLCs

Kota Kinabalu: The Sabah Government on Tuesday received dividend payment of RM100 million from 14 statutory bodies and government-linked companies (GLCs), which was an increase of 67.8 per cent compared to last year.

The representatives of the respective GLCs handed over the cheque replica of dividend payments to Chief Minister Datuk Hajiji Noor, who is also Sabah’s Finance Minister I, at the Sabah State Administrative Centre, here.

Also present were Deputy Chief Minister Datuk Dr Jeffrey Kitingan, Sabah Finance Minister II cum Local Government and Housing Minister Datuk Masidi Manjun and State Secretary Datuk Safar Untong.

ADVERTISEMENT

Hajiji, in congratulating the GLCs and statutory bodies, said the Government was implementing a new approach to assess their annual performance through their ability to contribute to the State’s revenue.

Under the new administration, a series of negotiations have been carried out to ensure the responsibility in paying dividends and loans are the priority of each statutory body and GLC, he said. 

“The statutory bodies and government-linked companies play a vital role in the growth and socio-economic development of the people, as well as assisting in the implementation of government policies and programmes in accordance with good corporate governance practices. 

ADVERTISEMENT

“The State Government will continue to be committed in assisting and improving the capabilities as well as competitiveness of the statutory bodies and GLCs in order to achieve the objectives of their establishment,” he said.

Hajiji also urged the statutory bodies and GLCs to continue taking measures to reduce dependency on the Government and contribute to the State’s revenue.

Among the GLCs that presented dividend payments to the State Government were Sabah Credit Corporation, Warisan Harta Sdn Bhd, Sawit Kinabalu, Sabah Energy Corporation Sdn Bhd and Desa Group Sdn Bhd.

Meanwhile, the Sabah Government also received repayments of loan amounting to RM22 million from eight GLCs in the State, including a public body.