KUCHING: The Sarawak government will table the State Ownership Policy during the State Budget 2026 tabling at the State Legislative Assembly sitting next month.
Premier Tan Sri Abang Johari Tun Openg said the policy aims to consolidate and safeguard state assets under a stronger governance framework.
It will clearly define how Sarawak exercises ownership while ensuring State-Owned Enterprises operate with commercial discipline, social responsibility and long-term sustainability.
This initiative aligns with the Post-COVID-19 Development Strategy 2030.
“State-Owned Enterprises play a crucial role as the bridge between the government and the private sector,“ he said at the Sarawak Economic Conference.
He described SOEs as strategic arms of the state in advancing industrialisation, ensuring energy security and creating opportunities to uplift the people.
“Institutional and governance reform is vital to achieving this vision,“ he added.
Good governance ensures every investment and policy decision is rooted in integrity, transparency and accountability.
Sarawak will adopt a Corporate Governance Code for SOEs, setting a new benchmark for transparency and ethical conduct.
“With digital performance tracking, we will measure outcomes not just in financial terms but in real value delivered to the people,“ he said.
Clear goals, strong ethics and measurable impact will define governance excellence.
Sarawak’s leading SOEs are already driving progress in key sectors including PETROS in oil and gas and Sarawak Energy in renewable energy.
Sarawak Metro focuses on urban mobility while SEDC handles downstream industries, tourism and agro-based ventures.
Yayasan Sarawak contributes to education and talent development.
Sarawak’s success depends on strong partnerships where the government provides vision and the private sector drives growth.
SOEs act as catalysts for strategic industries across the state. – Bernama
