Shafie denies RM178 million loan write-off claims
Published on: Thursday, June 19, 2025
Published on: Thu, Jun 19, 2025
By: FMT Reporters Text Size: Warisan president Shafie Apdal said that as chief minister at the time, he was not involved in the bank's day-to-day decisions or specific loan arrangements. (Facebook pic) PETALING JAYA: Warisan president Shafie Apdal has denied allegations linking him to the write-off of RM178 million in non-performing loans (NPLs) during his tenure as Sabah chief minister and chairman of the Sabah Development Bank (SDB). Responding to the claims circulating online, Shafie said no NPL was written off under his watch and that all financial decisions at the bank were subject to internal processes and credit evaluation protocols.
Advertisement 'I categorically deny the malicious and baseless allegations that have been circulated by an online portal,' he said in a statement today. 'These accusations are outright lies that have been manufactured with the intent to deceive the public and destroy my credibility.' Shafie said that as chief minister, he was not involved in the bank's day-to-day decisions or specific loan arrangements, adding that public institutions must be governed by professional processes and not political interference. 'I respected those boundaries and I expected the bank's management to uphold their fiduciary duty to the people of Sabah,' he said. Shafie, who served as chief minister from 2018 to 2020, said that rather than write off loans, his administration focused on recovering problematic debts and restoring financial integrity. 'Writing off NPLs recklessly would have been irresponsible and a betrayal of public trust,' he added. The Senaling assemblyman also questioned the timing of the allegations, saying it coincided with declining public confidence in the current administration ahead of the state election. 'This is a deliberate political smear that has been precisely timed because the current government is struggling. They are afraid of accountability and fear the coming election,' he said. Shafie also warned that he would not hesitate to take legal action against those who continue to publish and spread what he described as lies. 'I have nothing to hide and welcome any impartial investigation. However, I will not remain silent while lies are repeated and recycled for political convenience,' he said. * Follow us on our official WhatsApp channel and Telegram for breaking news alerts and key updates! * Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available.
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