State Government received dividend from 14 GLCs and Statutory Bodies

KOTA KINABALU: The State Government on Tuesday received dividend from 14 GLCs and Statutory Bodies totalling RM100 million for this year, which was 67.8 per cent more than the RM59.8 million paid in 2019. At the same time, eight other Statutory Bodies and GLCs also paid up its loans totalling RM22 million to the State Government. Chief Minister Datuk Seri Haji Hajiji Noor in congratulating the GLCs and Statutory Bodies said the State Government was implementing a new approach to assess their annual performance through its ability to contribute to the State’s revenue.

Under the new administration, a series of negotiations has 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 (GLCs) played 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. He assured that 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 objective of its establishment.

Having said that, Hajiji who is also Finance Minister urged the Statutory Bodies and GLCs to continue taking measures to reduce dependency on the State Government and contribute to State revenue. The dividend presentation ceremony held at the PPNS was also attended by Deputy Chief Minister cum Agriculture and Fisheries Industry Minister Datuk Dr Jeffrey Kitingan, Local Government and Fisheries Minister Datuk Seri Masidi Manjun, State Secretary Datuk Seri Sr. Safar Untong and Finance Ministry Permanent Secretary Haji Rusdin Riman as well as the respective Chairman and Chief Executive Officer of the Statutory Bodies and GLCs. End