By Lian Cheng
KUCHING, Dec 3: Moody’s (Moody’s Investors Service) and S&P (Standard & Poor’s Global Ratings) have reaffirmed Sarawak’s commendable investment credit rating of A3 and A- with a stable outlook respectively, while RAM (RAM Ratings) has reaffirmed Sarawak’s credit rating at AAA.
In announcing this, Second Minister of Finance and New Economy Datuk Amar Douglas Uggah Embas said these ratings are a testament to the confidence placed in the State’s prudent fiscal management, robust reserves, disciplined budgeting practices, and strong governance framework.
“These affirmations enable the State to secure strategic financing on favourable terms and to implement strategic projects in a prudent and accountable manner,” said Uggah when delivering ministerial winding up speech during Sarawak Legislature at Sarawak Legislative Complex here today.
He added that Sarawak’s capacity to undertake major development projects while preserving fiscal resilience is duly reflected in its commendable investment credit ratings.
At the same time, he announced that the State has once again received a Clean Certificate for its Public Accounts for the financial year 2024.
“This marks the 23rd consecutive year of such recognition, a clear testament to our sound governance and prudent financial management.
“Sustaining this achievement over more than two decades reflects our unwavering dedication, professionalism, and commitment; an accomplishment that truly deserves commendation,” said Uggah.
He acknowledged the dedication of Sarawak civil servants in maintaining high standards of governance and discipline in financial management. —DayakDaily
