KUCHING – The Sarawak Government will table a pioneering State Ownership Policy, the first of its kind in Malaysia, during the 2026 budget session in the State Legislative Assembly (DUN) in November, Premier Datuk Patinggi Tan Sri (Dr) Abang Abdul Rahman Zohari Tun Datuk Abang Openg announced.
The policy aims to strengthen the governance and accountability of State-Owned Enterprises (SOEs) and other state assets.
Under the framework being developed in partnership with the World Bank, reforms will include: adopting a Corporate Governance Code for SOEs; introducing a digitally-enabled performance measurement system; and ensuring efficient public financial management aligned with strategic, financial, and socioeconomic goals.
Premier Abang Johari highlighted the sheer scale of the state’s assets, which span companies under Government-Limited Corporations (GLCs) and bodies managed by local councils, emphasising the need for precise data and strong governance to safeguard value.
One component of the initiative will see SOEs expected to generate their own revenue and reduce dependence on state funding.
Earlier statements indicate that starting 2027, Sarawak will cease funding certain GLCs, such as the Sarawak Economic Development Corporation (SEDC) and the Bintulu Development Authority (BDA), encouraging them to become financially self-sustaining.
The Premier described the collaboration with the World Bank as not merely technical but a joint effort to reinforce Sarawak’s future, protecting ownership, raising standards, and creating confidence in state institutions.
Other reforms under the same agreement include implementing results-based budgeting across the state government and deploying a centralised digital framework to monitor SOE performance.
These changes, the Premier said, will help Sarawak meet its development ambitions more efficiently, ensuring public resources are managed transparently and assets are preserved and enhanced.
