Kota Kinabalu: The State Government announced a new policy aimed at strengthening the participation of local firms in the procurement of audit and financial services by State Statutory Bodies (BBN) and Government-Linked Companies (GLCs).
State Finance Minister Datuk Seri Panglima Masidi Manjun said the policy was more than just a matter of procurement, but it was about creating real opportunities for Sabahans.
“We want our young accounting graduates to thrive in their home state, and for our economic growth to be driven by local expertise.
“Sabah is ready to nurture and grow its professional class, especially in vital fields like accounting and finance, which are key to good governance and economic development,” he said.
The policy mandates that all contracts valued below RM50,000 be awarded exclusively to accounting firms based in Sabah and registered with the Sabah Association of Professional Accountants (Sapa).
For contracts above RM50,000, priority must still be given to local firms, with exceptions allowed only upon written justification to the Ministry of Finance.
The move is expected to retain more economic value within the State while empowering homegrown professionals and enhancing the competitiveness of Sabah’s accounting sector.
During a courtesy call on the Minister of Finance, Sapa President Datuk Tan Kok Liang expressed appreciation for the Government’s initiative, describing it as a “visionary policy” that reflects a genuine commitment to Sabah’s future.
“It represents a pivotal shift towards inclusive development and strengthens the foundation for a robust professional ecosystem in Sabah,” he said.
As part of the visit, Masidi also presented membership certificates to Sapa’s first batch of 15 new members, symbolising government support for the growth of a strong and professional accounting community in the State.
