KUCHING: The State Ownership Policy has the potential to strengthen Sarawak’s state-owned enterprises (SOEs) through improved governance, asset management and economic growth, provided it is implemented effectively and transparently.
Kota Sentosa assemblyman Wilfred Yap Yau Sin said the policy’s objectives are timely and align with Sarawak’s broader development goals.
“With proper implementation and clear accountability, the policy can help ensure that our state-linked companies deliver measurable results and contribute meaningfully to Sarawak’s economy.
“Board appointments should continue to prioritise qualifications, merit and professionalism to uphold the integrity and effectiveness of these enterprises,” he told Sarawak Tribune.
Yap stressed that SOEs must be run like businesses, not bureaucracies, while civil service and implementing agencies must raise their efficiency, responsiveness and professionalism to ensure policies are delivered effectively on the ground.
He also proposed the establishment of a State Ownership Oversight Unit to track SOE performance and ensure taxpayers’ money is delivering real value.
Noting governance gaps such as overlapping roles, weak monitoring and lack of transparency, Yap said these issues stem from years of fragmented management and politically motivated appointments.
“To address this, the state must adopt a unified governance framework, conduct regular performance audits and implement clear reporting mechanisms,” he said, adding that public access to SOE performance data via online platforms is key to ensuring transparency.
He also called for faster decision-making, better inter-agency coordination and stronger technical capacity within the bureaucracy.
On SOE restructuring, Yap said it is both inevitable and long overdue.
“Some SOEs have lost focus, while others have grown too comfortable without delivering results. The government should be transparent about which companies will be reviewed and how performance will be measured,” he said.
He identified energy and digital infrastructure as obvious priorities, but also urged the state to give greater attention to agriculture and food security, which directly affect people’s livelihoods.
Yap also called for leadership renewal, capacity-building for locals, and economic logic to drive restructuring — not political convenience.
“Transparency must be built into the system, not achieved through slogans,” he said.
