KOTA KINABALU: Government-linked companies (GLCs) that fail to turn a profit for five consecutive years will be placed under review and may be shut down, Chief Minister Datuk Seri Hajiji Noor (
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He said such companies would be scrutinised by the State Government Companies and Statutory Bodies Monitoring and Consultant Committee, with closure ordered if there was no clear prospect of recovery.
Hajiji reminded all GLCs and statutory bodies of the long-standing requirement to pay a minimum dividend of 10 per cent of profit after tax, and said annual contributions to the State would be raised from next year based on each company’s capacity and performance.
He also announced a revamp of GLC chairmen and board members to strengthen governance and accountability, and said chief executives and senior managers would be required to submit quarterly performance reports directly to him.
While noting that GLC contributions of RM131.6 million this year remained positive but below the 2022 peak, Hajiji said Sabah expected stronger returns as agencies are pushed to improve discipline, integrity and results under the Sabah Maju Jaya 2.0 agenda.
