Kota Kinabalu: Parti Kerjasama Anak Negeri (PKAN) on Wednesday demanded the disclosure of all beneficiaries of the RM5 billion in non-performing loans (NPLs) of Sabah Development Bank (SDB).
This follows the statement by Sabah Finance Minister Datuk Masidi Manjun that the State Government is prepared to assume SDB’s financial liabilities. Banking secrecy laws currently do not allow disclosure of confidential information.
PKAN President Datuk Henrynus Amin said public funds should not be used to bail out SDB.
“It is unacceptable that the people of Sabah should be burdened with the financial consequences of SDB’s failures, particularly when the names of those who benefited from these loans remain shrouded in secrecy,” he said.
