KUCHING, May 12 2026: The state government approved the Code of Corporate Governance for all state-owned enterprises as an official framework following a study conducted by the World Bank, Deputy Premier Douglas Uggah said in the State Legislative Assembly (SLA) said this evening.
He said the state government engaged the World Bank to undertake a study in 2022 to assess corporate governance practices of state-owned enterprises, including state statutory bodies and government-linked companies.
Uggah made the announcement when winding up the debate on the Sarawak Economic Development Corporation (Amendment) Bill.
He said the amendment reflects the initiative of the Sarawak government to strengthen institutional enhancement for SEDC as a corporation that adapts to current industry practices and meets the evolving needs of this progressive corporate landscape.
“The GPS government aspires to transform SEDC into one of the leading state-owned enterprises in Sarawak with strengthened governance, greater transparency, enhanced profitability, a clear strategic vision, and a commercially driven management approach practice inclusivity policy ultimately positioning it as a world-class corporation,” he said.
The SLA later passed the amendment bill.
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