Sabah plans to boost state's unit trust price

  • Nation
  • Thursday, 05 Jun 2003

KOTA KINABALU: The state government may “inject” a profitable state-owned business into the troubled Saham Amanah Sabah (SAS) to boost its price, which has been hovering around 20 sen per unit since 1997. 

Chief Minister Datuk Musa Aman said the SAS management, Saham Amanah Sabah Berhad, was carrying out an in-depth study to find ways to bring the price back to its launch price of RM1 per unit. 

“We may inject a profitable state-owned company to help SAS investors regain the RM1 per unit price,” he told a public forum organised by University Malaysia Sabah (UMS) here yesterday. 

The SAS problem was among several issues brought up by some 300 participants of the forum, which included students, politicians, activists and businessmen. 

Musa also addressed the issue of poverty eradication in the state, saying that comprehensive and long-term measures were necessary to overcome rural poverty. 

“We should avoid ad hoc measures and look at long-term solutions,” he said while lamenting the fact that despite various efforts done in the past, Sabah's poverty rate was still at “double digits.” 

The Chief Minister also said that changes in government had affected the implementation of development programmes.  

He felt that it was important for the people to “maintain'' Barisan Nasional like in neighbouring Sarawak and the peninsula, where continuity had brought focused development and benefits. 

Earlier in his speech, Musa suggested the setting up of an information technology corridor between the UMS campus and Kota Kinabalu Industrial Park. 

He said UMS could take the lead in the setting up of the corridor, which would be beneficial to the people of the state. 

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