KOTA KINABALU: The Sabah government has introduced a new policy to boost local economic participation in the procurement of audit and financial services by State Statutory Bodies and government-linked companies.
Under the new guidelines, contracts for audit and financial services valued below RM50,000 must be awarded exclusively to Sabah-based firms registered with the Sabah Association of Professional Accountants (SAPA).
For contracts exceeding RM50,000, priority must still be given to local firms, with exceptions allowed only upon written justification to the Ministry.
On the guidelines, state Finance Minister Datuk Seri Masidi Manjun said that the policy prioritises appointing accounting firms domiciled in Sabah.
He added that this marks a significant step in empowering local professionals and enhancing the state’s accounting sector competitiveness.
"This policy is not just about procurement; it is about creating real opportunities for Sabahans,” said Masidi.
"We want our young accounting graduates to thrive in their home state, with economic growth driven by local expertise," he added.
Masidi said that Sabah is ready to nurture and grow its professional class, especially in accounting and finance, which are vital to good governance and economic development.
Meanwhile, SAPA president Datuk Tan Kok Liang expressed appreciation to the State Government, describing the policy as visionary.
"We thank the Minister and the Sabah Government for this significant initiative.
It represents a pivotal shift towards inclusive development and reflects a genuine commitment to strengthening Sabah’s professional ecosystem," said Tan.
During the meeting, Masidi presented certificates of membership to SAPA’s first batch of 15 new members, symbolising the government’s support for a strong and vibrant accounting community in the state.
