Latest news with #JulitaMajungki
Daily Express
25-05-2025
- Business
- Daily Express
Action being taken on sick GLCs
Published on: Sunday, May 25, 2025 Published on: Sun, May 25, 2025 Text Size: Julita said not all State-linked firms are underperforming, citing several that have delivered dividends, jobs and investment opportunities. Kota Kinabalu: The Sabah Government has rolled out a series of reforms to improve governance and performance of government-linked companies (GLCs) and statutory bodies. Assistant Finance Minister Datuk Julita Majungki said the measures reflect the State's commitment to ensuring accountability and maximising the impact of its corporate entities. The reforms come amid criticism from former Sabah Law Society President Datuk Roger Chin, who alleged political interference in loss-making GLCs. Julita said not all State-linked firms are underperforming, citing several that have delivered dividends, jobs and investment opportunities. As part of ongoing improvements, the State is restructuring major GLCs like Sedco and Qhazanah Sabah Berhad, appointing new leaders to drive recovery and accountability. 'The goal is to optimise resources and focus on ventures that truly benefit Sabah's economy,' she said. Advertisement Sabah currently oversees 27 holding companies and 22 statutory bodies in key sectors like plantations, energy and property development, supported by a network of around 250 subsidiaries. To streamline operations, the Government has introduced stricter policies, including vetting board appointments, reassessing business models and tightening financial monitoring. A major new rule requires all joint venture deals involving State-linked firms to undergo review by the State Attorney-General's Office and the Finance Ministry before Cabinet approval, a move designed to protect public interests. A dedicated GLC Monitoring Committee, co-led by top finance officials, has also been formed to identify governance gaps and recommend corrective actions for underperforming firms. Some inactive GLCs are being restructured or shut down to cut losses. * 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. Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia
The Star
23-05-2025
- Business
- The Star
Sabah forms GLC Monitoring Committee to enhance governance
KOTA KINABALU: In a significant move to improve the governance and performance of its Government-Linked Companies (GLCs) and Statutory Bodies, the Sabah Government has established a dedicated GLC Monitoring Committee as the centrepiece of a broader reform agenda. Assistant Finance Minister Datuk Julita Majungki stated that the committee, co-chaired by the Permanent Secretary of the Finance Ministry and the Financial Adviser to the Chief Minister, will play a central role in strengthening oversight and ensuring greater accountability across state-linked entities. "This committee will serve as a strategic body to identify governance gaps, recommend corrective actions, and track the performance of GLCs. It is a critical step forward in reforming how these entities operate and contribute to Sabah's economy," she said in a statement on Friday (May 23). The formation of the committee is part of a series of structural reforms aimed at enhancing transparency, operational efficiency, and the overall impact of Sabah's corporate ecosystem. She added that the State currently oversees 27 holding companies and 22 statutory bodies, supported by approximately 250 subsidiaries and associate firms in key sectors such as plantations, energy, and property development. Among the reforms introduced are stricter board appointment criteria, a reassessment of business models, and improved financial reporting standards. "These are designed to ensure that only qualified individuals lead these entities and that their operations are aligned with the state's economic objectives," she said. Majungki said the State Government has also enforced a policy requiring all joint venture agreements involving GLCs or statutory bodies to undergo mandatory vetting by the State Attorney-General's Office, the Ministry of Finance, and relevant agencies before being submitted for Cabinet approval. "This measure is crucial to protecting public interest and ensuring transparency in all joint ventures involving public assets," she explained. The committee is already reviewing several inactive and underperforming GLCs, some of which are now undergoing restructuring or being wound up to reduce fiscal burden and streamline the corporate ecosystem. Majungki was responding to remarks made by former Sabah Law Society president Datuk Roger Chin during a recent Sabah Action Body Advocating Rights (SABAR) town hall session. Chin had alleged that certain GLCs continued to operate despite heavy losses due to political affiliations. In response, she stressed that the state is undertaking a comprehensive review to retain only those GLCs that are productive, transparent, and financially sustainable. She also highlighted recent leadership changes in key state-owned companies, including Sabah Economic Development Corporation (SEDCO) and Qhazanah Sabah Berhad, as part of ongoing recovery efforts. "While there are areas that require improvement, it's important to acknowledge that several GLCs have made notable progress, returning dividends to the state, creating jobs, and attracting private investment," she said. With the GLC Monitoring Committee in place, Majungki said the state is confident that its corporate institutions will now be held to higher standards of governance and performance.
Daily Express
23-05-2025
- Business
- Daily Express
Sabah strengthens oversight of GLCs with reforms, new monitoring committee
Published on: Friday, May 23, 2025 Published on: Fri, May 23, 2025 Text Size: KOTA KINABALU: The Sabah Government has intensified efforts to improve corporate governance of its Government-Linked Companies (GLCs) and State Statutory Bodies by implementing structural reforms and establishing a dedicated GLC Monitoring Committee. The initiative aims to enhance transparency, accountability, and economic impact through stronger oversight. Currently, Sabah holds direct interests in 27 holding companies and 22 statutory bodies across key sectors such as plantations, energy, and property development. These are supported by around 250 subsidiaries and associate companies, creating a complex corporate network that requires rigorous management. Key reforms include appointing qualified board members, reassessing business models, and strengthening financial monitoring and reporting. Additionally, all joint venture agreements involving GLCs must now be vetted by the State Attorney-General's Office, Ministry of Finance, and relevant agencies before Cabinet approval to protect public interest. The newly formed GLC Monitoring Committee, co-chaired by senior finance officials, is tasked with identifying governance gaps and recommending corrective actions. Advertisement Some dormant or inactive GLCs are currently being restructured or wound up to reduce financial burdens and improve overall efficiency. Responding to criticism that some GLCs remain despite losses linked to political backing, Assistant Finance Minister Datuk Julita Majungki emphasized that many GLCs continue to deliver positive contributions, including dividends, job creation, and community development. New leadership appointments in major GLCs are part of efforts to boost accountability and drive recovery. * 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. Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia
Free Malaysia Today
15-05-2025
- Politics
- Free Malaysia Today
PBS backs GRS on local parties leading Sabah
PBS secretary-general Julita Majungki said it is crucial to ensure that Sabah's future is shaped by the aspirations of its own people. (Facebook pic) PETALING JAYA : Parti Bersatu Sabah said it fully supports the notion that local parties should lead the state government, amid talk of a possible tie-up between Gabungan Rakyat Sabah, Pakatan Harapan and Barisan Nasional. PBS secretary-general Julita Majungki described GRS as the best and most proven platform to achieve this vision and that GRS should consider, 'if necessary, contesting the 17th state election independently'. 'This support is consistent with PBS's longstanding position since its founding: to champion the voices of Sabah people through leadership that is homegrown,' she said in a statement. PBS, one of eight component members of GRS, holds seven of the 42 seats the coalition has in the state assembly. GRS chairman Hajiji Noor last Friday said the coalition would go solo in the state election if PH and BN had finalised their electoral pact, adding that local Sabah parties should be the backbone and head of the state government. But on Sunday, PH chairman Anwar Ibrahim said he was optimistic that the three coalitions would be able to reach an agreement for the state election. Anwar, the prime minister, said Hajiji had his full support to lead discussions on an election pact among GRS, PH, and BN. Hajiji, for his part, said the cooperation between GRS and Sabah PH had been smooth. Majungki stressed that it was crucial to ensure that Sabah's future was shaped by the aspirations of its own people, with a strong emphasis on stability, efficiency and fairness in governance. She said local parties possessed unique strengths, rooted in their deep understanding of Sabah's multicultural society, diverse geography and rich heritage. 'Local parties are born from the grassroots of the Sabah people. Leadership that is closely in touch with the pulse of the community enables policies to genuinely address the needs of the people. This is vital to ensure that development reaches every segment of society,' she added.
Borneo Post
13-05-2025
- Politics
- Borneo Post
PBS: Local parties must lead Sabah government to reflect people's aspirations
Julita KOTA KINABALU (May 13): Parti Bersatu Sabah (PBS) has reaffirmed its belief that local political parties should form the core leadership of the state government to ensure Sabah's future is shaped by the aspirations and needs of its people. Its secretary-general, Datuk Julita Majungki, said that local parties possess a distinct advantage through their deep understanding of Sabah's unique ethnic diversity, geographical challenges and cultural richness. 'Local parties are born from the grassroots of Sabah. Leadership that reflects the people's heartbeat enables the creation of policies that truly address the rakyat's needs. This is essential for development that benefits all layers of society,' she said in a statement on Tuesday. Julita outlined several strengths of local parties, including their ability to develop context-specific policies, their sensitivity to issues such as native customary rights and rural infrastructure, their capacity for faster decision-making, and their commitment to defending Sabah's rights under the Malaysia Agreement 1963 (MA63). 'Local leaders understand the real challenges faced by the people and are more capable of formulating effective, practical solutions. Local parties are not only efficient in governance, but also in steering Sabah toward a sustainable and progressive future,' she added. PBS also expressed strong support for recent remarks by Gabungan Rakyat Sabah (GRS) chairman Datuk Seri Panglima Hajiji Noor, who advocated for local parties to serve as the backbone of the state government — even if it means contesting the upcoming 17th state election (PRN17) independently. Julita said this message aligns with PBS's long-standing position of championing grassroots leadership for Sabah. 'The GRS chairman's statement is a recognition of the strength and vital role of local parties. PBS welcomes this call and is fully committed to building a stable, united and people-focused state government,' she said. She urged Sabahans — especially the youth and those in rural communities — to view the upcoming election as a vital opportunity to elect leaders who genuinely understand, listen to, and serve with sincerity. 'Now is the time for us to stand tall as Sabahans. Local parties are not just an option — they are essential for securing a just, prosperous, and sovereign future for our beloved state. GRS is the best platform to realise this vision,' Julita concluded.
