KUCHING: The newly introduced Sarawak State Ownership Policy is not primarily about restructuring state-owned enterprises (SOEs) but focuses on strengthening governance and ensuring strategic alignment.
Batu Kitang assemblyman Datuk Lo Khere Chiang said any adjustments made under the policy will be guided by the principles of improving efficiency, professionalism and long-term value creation for the people of Sarawak.
“The policy’s purpose is to enhance how we manage and optimise our resources, not to overhaul existing structures,” he told Sarawak Tribune.
Lo added that the policy introduces structured governance principles and performance monitoring mechanisms, ensuring that all SOEs operate with greater accountability, transparency, and alignment with the state’s long-term development goals.
“Clear reporting standards, regular evaluations and independent oversight will form the backbone of the implementation process, helping build both public trust and investor confidence.
“The policy will also address governance gaps by establishing a consistent framework with clear roles, measurable performance targets, and professional management practices, while preventing duplication, inefficiency and resource wastage,” he added.
Beyond governance, Lo said the policy is aimed at optimising Sarawak’s natural resources and diversifying its economic base through a sustainable and strategic approach.
It positions the state government as an active, professional and credible partner in managing its assets.
Lo noted that the policy supports Sarawak’s broader economic vision of becoming a high-income and sustainable economy, particularly through diversification into green energy, digital economy and human capital development.
“It also complements the state’s autonomy efforts under the Malaysia Agreement 1963 (MA63), enabling Sarawak to manage key resources such as liquefied petroleum gas (LPG) through PETROS.
“This policy sets the stage for long-term prosperity driven by innovation, technology and sustainability,” he added.
