KOTA KINABALU: Sabah Development Bank (SDBank) will be under the purview of the Chief Minister, the State of Sabah (Chief Minister (Incorporation) Ordinance) from its
current holding company, Sabah Development Berhad, and placed under the direct
supervision of the State Ministry of Finance.
Announcing this today, Chief Minister Datuk Seri Panglima Haji Hajiji Haji Noor said the
move was part of the measures approved by the State Cabinet to strengthen the State’s
support to SDBank.
“This move reaffirms the State’s commitment to fully back SDBank in discharging its
financial obligations and fulfilling its growth ambitions.
“The mandated ambition moving forward is for SDBank to rigorously focus on socially
and economically meaningful and environmentally responsible development projects in
Sabah,” he said.
The Chief Minister said a new Board had been established to drive SDBank towards this
strategic direction, with Datuk Seri Panglima Lim Haw Kuang as the Executive Chairman.
Other Board members are Finance Ministry Permanent Secretary Datuk Mohd Sofian
Alfian Nair, Patricia Ubing (Senior Independent Non-Executive Director), Datuk Vincent
Pung, Dr Dionysia Kibat and Datuk Brenndon Keith Soh.
Hajiji said SDBank will also explore strategic partnerships with other development
financial institutions (DFIs) to fund targeted development projects in Sabah.
“The State Government sees SDBank as key in supporting the State’s strategic thrust
under the Hala Tuju Sabah Maju Jaya in promoting and implementing development
projects for the best interest of Sabah,” he said.-pr/BNN
