The Sarawak government is strengthening the governance and financial sustainability of its statutory bodies and government-linked companies (GLCs) through an ongoing State-Owned Enterprises (SOEs) Transformation Programme in collaboration with the World Bank.
Second Minister of Finance and New Economy Datuk Amar Douglas Uggah Embas said the initiative involved reforms to improve governance standards, operational resilience and long-term financial self-reliance among state-owned entities.
“I would now like to update this august House on the ongoing collaboration with the World Bank involving our Statutory Bodies and Government-Linked Companies under the State-Owned Enterprises Transformation Programme,” he said during his ministerial winding-up speech at the Sarawak State Legislative Assembly sitting today (May 20).
Uggah said the Sarawak government had introduced the Sarawak State Ownership Policy (Sarawak SOP) and the Sarawak Code of Corporate Governance (Sarawak CODE) to strengthen governance frameworks for state-owned enterprises.
“These initiatives would help to enhance accountability, transparency and ensure alignment with the state’s long-term development agenda,” he said.
According to him, the Sarawak SOP and Sarawak CODE would provide clearer ownership expectations, governance principles, and performance standards to ensure that state-owned enterprises operate with greater professionalism, focused mandates, and strategic clarity.
“Ensuring that our SOEs operate with greater professionalism, focused mandate, and strategic clarity in performing their respective roles and functions,” he said.
Uggah also said that a study on the roadmap towards financial self-reliance and high performance of state statutory bodies and GLCs for the period 2026 to 2030 had been successfully completed.
“The study has produced a comprehensive transformation roadmap aimed at strengthening operational resilience, improving commercial sustainability, and reducing long-term dependency on Sarawak Government financial support,” he said.
He added that the recommendations and strategic initiatives outlined in the roadmap would be progressively implemented by participating statutory bodies and GLCs as part of the broader transformation programme.
“This is the Sarawak we are building; a Sarawak with stronger institutions, sustainable state-owned enterprises and a governance system that is resilient, accountable and future-ready,” he said.
Uggah urged all SOEs and line ministries to continue supporting and collaborating with the State Financial Secretary’s Office to advance the transformation agenda.
“With strong commitment, collective responsibility and continuous collaboration among all stakeholders, I am confident that this transformation agenda will strengthen the role of our SOEs as key enablers and catalysts of Sarawak’s long-term economic growth and prosperity,” he added.
