Latest news with #Masidi
Daily Express
27-05-2025
- Business
- Daily Express
Sabah mandates local accounting firms for contracts
Published on: Wednesday, May 28, 2025 Published on: Wed, May 28, 2025 Text Size: Masidi (centre) receiving a memento from Tan (seventh, left) after presenting the first batch Sapa members with their certificates of membership. Kota Kinabalu: The State Government announced a new policy aimed at strengthening the participation of local firms in the procurement of audit and financial services by State Statutory Bodies (BBN) and Government-Linked Companies (GLCs). State Finance Minister Datuk Seri Panglima Masidi Manjun said the policy was more than just a matter of procurement, but it was about creating real opportunities for Sabahans. 'We want our young accounting graduates to thrive in their home state, and for our economic growth to be driven by local expertise. 'Sabah is ready to nurture and grow its professional class, especially in vital fields like accounting and finance, which are key to good governance and economic development,' he said. The policy mandates that all contracts valued below RM50,000 be awarded exclusively to accounting firms based in Sabah and registered with the Sabah Association of Professional Accountants (Sapa). For contracts above RM50,000, priority must still be given to local firms, with exceptions allowed only upon written justification to the Ministry of Finance. Advertisement The move is expected to retain more economic value within the State while empowering homegrown professionals and enhancing the competitiveness of Sabah's accounting sector. During a courtesy call on the Minister of Finance, Sapa President Datuk Tan Kok Liang expressed appreciation for the Government's initiative, describing it as a 'visionary policy' that reflects a genuine commitment to Sabah's future. 'It represents a pivotal shift towards inclusive development and strengthens the foundation for a robust professional ecosystem in Sabah,' he said. As part of the visit, Masidi also presented membership certificates to Sapa's first batch of 15 new members, symbolising government support for the growth of a strong and professional accounting community in the State. * 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
27-05-2025
- Business
- The Star
Sabah implementing policy to boost local accounting sector
KOTA KINABALU: The Sabah government has introduced a new policy to boost local economic participation in the procurement of audit and financial services by State Statutory Bodies and government-linked companies. Under the new guidelines, contracts for audit and financial services valued below RM50,000 must be awarded exclusively to Sabah-based firms registered with the Sabah Association of Professional Accountants (SAPA). For contracts exceeding RM50,000, priority must still be given to local firms, with exceptions allowed only upon written justification to the Ministry. On the guidelines, state Finance Minister Datuk Seri Masidi Manjun said that the policy prioritises appointing accounting firms domiciled in Sabah. He added that this marks a significant step in empowering local professionals and enhancing the state's accounting sector competitiveness. "This policy is not just about procurement; it is about creating real opportunities for Sabahans,' said Masidi. "We want our young accounting graduates to thrive in their home state, with economic growth driven by local expertise," he added. Masidi said that Sabah is ready to nurture and grow its professional class, especially in accounting and finance, which are vital to good governance and economic development. Meanwhile, SAPA president Datuk Tan Kok Liang expressed appreciation to the State Government, describing the policy as visionary. "We thank the Minister and the Sabah Government for this significant initiative. It represents a pivotal shift towards inclusive development and reflects a genuine commitment to strengthening Sabah's professional ecosystem," said Tan. During the meeting, Masidi presented certificates of membership to SAPA's first batch of 15 new members, symbolising the government's support for a strong and vibrant accounting community in the state.
Borneo Post
27-05-2025
- Business
- Borneo Post
New Sabah policy mandates local accounting firms for govt contracts under RM50,000
Masidi (ninth from right) receiving a memento from Tan after presenting the first batch of SAPA members with their certificates of membership. KOTA KINABALU (May 27): The Sabah Government has introduced a new policy to strengthen local economic participation in the procurement of audit and financial services by state statutory bodies (BBN) and government-linked companies (GLCs). The move prioritises the engagement of accounting firms domiciled in Sabah, thereby keeping economic value within the state and is a significant step forward in the state's commitment to empower homegrown professionals and enhance the competitiveness of Sabah's accounting sector. 'This policy is not just about procurement – it is about securing opportunities for Sabahans. 'We want our young accounting graduates to thrive in their home state, and for our economic growth to be driven by local expertise. 'We are sending a clear message: Sabah is ready to nurture and grow its professional class, especially in fields like accounting and finance, which are vital to good governance and economic development,' said Datuk Seri Masidi Manjun, the Minister of Finance Sabah. Under the new guidelines, all audit and financial services contracts below RM50,000 are to be awarded exclusively to Sabah-based firms registered with the Sabah Association of Professional Accountants (SAPA). Priority must still be given to local firms for contracts exceeding RM50,000, with limited exceptions allowed upon written justification to the Ministry. In a courtesy call to the Minister of Finance on Tuesday, SAPA expressed its appreciation to the State Government for introducing this initiative. The association believes this will significantly improve employment and training opportunities for local professionals. 'We thank the honourable minister and the Sabah Government for this visionary policy. 'It represents a pivotal shift towards inclusive development and shows a genuine commitment to the future of Sabah's professional ecosystem,' said SAPA president Datuk Tan Kok Liang. During the meeting, Masidi also presented membership certificates to SAPA's first batch of 15 new members, symbolising the government's support for the growth of a strong and professional accounting community in Sabah.
Daily Express
27-05-2025
- Business
- Daily Express
State prioritises local firms for audit and financial services in new policy
Published on: Tuesday, May 27, 2025 Published on: Tue, May 27, 2025 Text Size: KOTA KINABALU: The Sabah Government has launched a policy requiring State Statutory Bodies and Government-Linked Companies to prioritise Sabah-based accounting firms for audit and financial service contracts. The move aims to boost local economic participation and empower home-grown professionals. Contracts below RM50,000 must now go exclusively to firms registered with the Sabah Association of Professional Accountants (SAPA), with local firms still prioritised for larger contracts. 'This policy secures opportunities for Sabahans and supports our young professionals in accounting and finance,' said State Finance Minister Datuk Seri Masidi Manjun. SAPA welcomed the policy as a major step toward inclusive economic development. Masidi also presented membership certificates to SAPA's first 15 new members, marking a milestone for the state's professional accounting community. * 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
Daily Express
25-05-2025
- Business
- Daily Express
Masidi engages 500 students at forum
Published on: Sunday, May 25, 2025 Published on: Sun, May 25, 2025 Text Size: Masidi having a light moment with the students. Kota Kinabalu: More than 500 students attended the Destinasi SMJ Anak Muda 2.0 forum at Universiti Malaysia Sabah (UMS), Saturday, where State Finance Minister Datuk Seri Masidi Manjun addressed their concerns and ideas about Sabah's future. Organised by the Institut Kerjasama Kerajaan dan Rakyat (Ikrar), the event provided a platform for students to discuss pressing issues such as UMS's water supply, Sabah's economic direction and student welfare and job opportunities. The forum was moderated by Ikrar Director Azrul Ibrahim. In his speech, Masidi pointed out the Government's commitment to addressing youth concerns. 'We are listening. The concerns of our youths, whether it is water, education, or job opportunities, are not falling on deaf ears. The Government is committed to real, tangible solutions. 'The energy and ideas shared today reaffirm my belief that Sabah is in good hands. Our youths are not just the leaders of tomorrow, they are already playing their crucial roles today,' he said. Advertisement The session was well received, with many students appreciating the chance to engage directly with a senior government official. Masidi encouraged young Sabahans to stay informed and involved in the State's development. * 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
