Statutory bodies, GLCs pay RM138.7 million in dividends, contributions to Sabah Govt

KOTA KINABALU - Sabah statutory bodies and government-linked companies (GLCs) paid a total of RM138.7 million in dividends and contributions to the state government as of October this year, according to Chief Minister Datuk Seri Hajiji Noor.

He said the total figure 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 in his speech read out by Sabah Finance Minister Datuk Seri Masidi Manjun at the presentation ceremony of Sabah Statutory Bodies and GLCs Dividends and Contributions here today.

Among those paying dividends to the state government was SMJ Sdn Bhd (SMJSB), the "youngest” state GLC, with an amount of RM50 million.

Other agencies include 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 (RM2 million).

Hajiji said all statutory bodies and GLCs board of directors must exercise good corporate governance from the perspective of administration and evaluation to ensure that the company and statutory bodies’ security is assured.

He singled out Sawit Kinabalu as the benchmark for all GLCs and statutory bodies to emulate, having shown strong resilience and competitiveness in the industry despite facing uncertain palm oil commodity prices. - BERNAMA