Review order to government-linked companies
Published on: Tuesday, July 05, 2022
Hajiji (left) chairing the 120th Sabah Foundation Board of Trustees meeting.
Kota Kinabalu: Chief Minister Datuk Seri Hajiji Noor ordered an immediate review of agreements and contracts involving all state agencies and government-linked companies (GLCs) that are not performing well and to the detriment of the Government.He also reminded the officers assigned to sign the agreements and contracts involved, to take into account the interests of the State.
ADVERTISEMENT
“I want to emphasise here that any government agency, when making an agreement, must make sure (the agreement) takes into account the interests of the State. The officers involved, including legal officers, must look at and read carefully every content of the agreement,” he said.
The Chief Minister, who is also the Chairman of Yayasan Sabah Board of Trustees, said this while chairing the 120th Meeting of the Yayasan Sabah Board of Trustees Series No. 1/2022 at Menara Kinabalu, here, Monday.
Also present were Deputy Chief Minister II cum Agriculture and Fisheries Minister Datuk Seri Dr Jeffrey Kitingan; Yayasan Sabah Director cum Executive Chairman of Innoprise Corporation Sdn Bhd (ICSB) Datuk Ghulam Haidar Khan Bahadar; Chief Conservator of Forests Datuk Frederick Kugan; Yayasan Sabah Board of Trustees members and senior officers.
The Chief Minister also congratulated and welcomed the appointment of new board members, namely the Science, Technology and Innovation Ministry’s Permanent Secretary Zainudin Aman and Sabah Education Director Tah Nia Jaman, and wanted them to work together to help the Yayasan Sabah Group (YSG) continue to excel in future.
ADVERTISEMENT
During the meeting, Hajiji also announced the achievements of ICSB, the investment machinery of YSG, which managed to increase its pre-tax profit by RM424 million compared to RM112 million in 2020.
“This increase is RM312 million or four times the previous year. This makes it the highest increase recorded by ICSB in nine years,” he said.
ADVERTISEMENT
Meanwhile, Hajiji said for ICSB Group’s revenue, there was a significant increase from RM819 million in 2020 to RM1.2 billion in 2021. The increase of 45 per cent or RM369 million was the highest recorded by ICSB since 2013.
“For YSG, the pre-tax surplus in 2021 is RM358.12 million, compared to the 2020 pre-tax income surplus of RM18.5 million, an increase of RM339.62 million,” he said.
The significant increase in surplus income before tax in 2021 was due to the increase in revenue in 2021 which amounted to RM1.2 billion compared to in 2020 which amounted to RM830.43 million.
The Chief Minister also wants to see ICSB’s subsidiaries empowered so that they do not become a burden and a problem to Yayasan Sabah.
“With the appointment of the Chairman of the Board of Directors and Board of Governors of University College Sabah acFoundation (UCSF) and a new Vice Chancellor, for example, we hope can solve the problems faced by UCSF.
“Similarly with the Yayasan Sabah Technical College (KTYS), I want the problems faced to be resolved quickly so it will be able to attract more new students, thus opening up opportunities for more Sabahans to further their studies, especially in the technical fields,” he said.
Stay up-to-date by following Daily Express’s Telegram channel.
Daily Express Malaysia
