No more lopsided contracts, interests of the state to be protected

KOTA KINABALU: In a bid to curb lopsided deals, Sabah government wants an immediate review of all agreements and contracts of non-performing state agencies and government linked companies (GLCs).

“I want to emphasis that any government agency, when stamping an agreement, must take into account the interests of the state,” said Chief Minister Datuk Seri Hajiji Noor (pic).

“Legal officers must also read and go through the documents carefully,” he added when chairing the Yayasan Sabah board of trustees meeting yesterday.

He, however, did not name the agencies or GLCs which have signed contracts that did not favour the state government.

In the meeting, the Chief Minister also announced that Yayasan Sabah’s investment Innoprise Corporation Sdn Bhd (ICSB) had posted pre-tax profits of RM424mil for 2021 compared to RM112mil in 2020.

“This increase is RM312mil or four times from the previous year.

“This is the highest increase recorded by ICSB in a period of nine years,” he said in a statement after the meeting.

Hajiji pointed out ICSB group’s revenue also showed a significant increase from RM819mil in 2020 to RM1.2bil last year, an increase of 45% (or RM369mil) and the highest recorded since 2013.

Hajiji also said ICSB subsidiaries should not be a burden to the Sabah Foundation.

He also hoped to see problems overcome quickly at University College Sabah Foundation (UCSF) and Sabah Foundation Technical College (KTYS), operated by the foundation.

“This will attract more new students and open up opportunities for more Sabahans to further their education, particularly in the technical field,” he added.

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