KUCHING: Sarawak will adopt a Corporate Governance Code for State-Owned Enterprises (SOEs) as part of its broader efforts to strengthen institutional integrity, accountability and performance under the upcoming Sarawak State Ownership Policy.
Premier Datuk Patinggi Tan Sri Abang Johari Tun Openg said the governance code will set a new benchmark for transparency, ethical conduct and commercial discipline across SOEs — aligning their operations with the state’s long-term development agenda under the Post Covid-19 Development Strategy 2030 (PCDS 2030).
“Institutional and governance reform is essential to realising this vision. Good governance ensures that every investment and policy decision is anchored in integrity, transparency and accountability,” he said.
The Premier announced this during the launch of the 13th Malaysia Plan (13MP) 2026–2030 in conjunction with the Sarawak Economy Conference 2025 at Sheraton Hotel here on Monday (Oct 20).
He said the Corporate Governance Code will guide how Sarawak exercises ownership over SOEs, ensuring they operate with clearly defined mandates while balancing commercial success with public service responsibilities.
“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.
The forthcoming State Ownership Policy, to be tabled during the Sarawak Budget 2026 at the State Legislative Assembly (DUN) sitting, aims to consolidate and safeguard state assets under a strengthened governance framework.
Abang Johari noted that Sarawak’s leading SOEs are already setting the pace in their respective sectors — PETROS in oil and gas, Sarawak Energy in renewable energy, Sarawak Metro in urban mobility, SEDC in downstream industries and tourism, and Yayasan Sarawak in education and talent development.
As Sarawak moves into the 13MP period, he stressed that governance reforms will go hand-in-hand with strategic investments and private sector participation to drive industrialisation, energy security and sustainable growth.
