By Shikin Louis
KUCHING, Oct 20: The Sarawak State Ownership Policy, which aims to strengthen the governance of its State-owned enterprises (SOEs), will be formally presented during the tabling of Sarawak’s 2026 Budget at the upcoming Sarawak Legislative Assembly (DUS) sitting next month.
Premier Datuk Patinggi Tan Sri Abang Johari Tun Openg said the policy, the first of its kind in Malaysia, aims to consolidate all State assets under one framework to ensure they are managed prudently, professionally and in line with Sarawak’s development priorities.
“This policy will consolidate and safeguard our assets under a stronger governance framework, clearly defining how Sarawak exercises ownership and ensuring SOEs operate with commercial discipline, social responsibility and long-term sustainability in line with the Post Covid-19 Development Strategy (PCDS) 2030 and the rights of Sarawak in the Federal Constitution and the Malaysia Agreement 1963 (MA63),” he said when speaking during the Sarawak Economic Conference and the launch of the 13th Malaysia Plan (13MP) 2026–2030 held at the Sheraton Hotel here today.
Abang Johari, who is also the Sarawak Minister for Finance and New Economy, had previously introduced the concept of the Sarawak Ownership Policy, under which SOEs serve as strategic vehicles to advance industrialisation, ensure energy security and create economic opportunities for Sarawakians.
Guided by the policy, SOEs will be reshaped to deliver with excellence, discipline and purpose, balancing commercial success with public service.
He further said the next phase of the policy will strengthen the governance and accountability of SOEs through a Corporate Governance Code to be adopted by the State.
“With digital performance tracking, we will measure outcomes not just in financial terms, but in real value delivered to the people. Clear goals, strong ethics and measurable impact will define governance excellence,” he added.
Abang Johari also mentioned that Sarawak’s leading SOEs—Petroleum Sarawak Berhad (PETROS), Sarawak Energy Berhad, Sarawak Metro Sdn Bhd, Sarawak Economic Development Corporation (SEDC) and Yayasan Sarawak—are already demonstrating how government-linked enterprises can balance commercial success with public service and long-term sustainability in line with PCDS 2030.
“Success rests on partnership: government provides vision, the private sector drives growth and SOEs catalyse strategic industries. Together, we are building a high-income, resilient and people-centred Sarawak by 2030,” he emphasised.
On Oct 2, Sarawak signed a three-year Reimbursable Advisory Services (RAS) Agreement with the World Bank and the federal government to help the State strengthen the governance of SOEs.
Under this initiative, Sarawak will also introduce a new State Ownership Policy, establish high standards of corporate governance across all SOEs, and develop a centrally-managed and digitally-enabled performance measurement framework to assess the performance of SOEs. — DayakDaily
