Sarawak has spent RM31 billion on 12MP projects and received its 23rd consecutive clean audit certificate, with strong credit ratings reaffirmed
KUCHING: Sarawak has spent RM31 billion, or 78% of its approved ceiling, on projects under the 12th Malaysia Plan (12MP) to date.
State Deputy Premier Datuk Amar Douglas Uggah Embas said 1,396 state-funded projects with a combined ceiling of RM40 billion have been approved under the plan.
He said 987 projects, or 71%, are physical projects, while the remaining 29% consist of non-physical initiatives like grants and investments.
Uggah added that 308 physical projects have been completed, with 679 others progressing at various stages of implementation.
“Projek Rakyat, Rural Transformation Projects (RTP) and regional development agency programmes are also contributing to balanced development statewide,” he said during his winding-up speech at the Sarawak Legislative Assembly.
He noted that 381 Projek Rakyat have been completed and over 9,200 RTP projects have been delivered.
Uggah also announced that Sarawak has obtained a Clean Certificate for its Public Accounts for the financial year 2024.
This marks the state’s 23rd consecutive unqualified audit.
“This achievement reflects the state’s unwavering commitment to sound governance, prudent financial management and disciplined budgeting practices over more than two decades,” he said.
International credit rating agencies Moody’s and S&P have reaffirmed Sarawak’s investment-grade ratings at A3 and A- respectively, both with stable outlooks.
Domestic rating agency RAM maintained its AAA rating for the state.
“These ratings highlight the confidence placed in Sarawak’s robust reserves, strong governance framework and financial resilience,” Uggah added.
He said the state civil service continues to play a key role in ensuring accountability and credibility in public financial management. – Bernama
