From fifth left: Soh, George, Yee, Liew, Chang (right) and other guests during the courtesy call.
KOTA KINABALU: The state-owned Sabah Credit Corporation (SCC) has made a profit before tax of RM98.2 million last year despite the Covid-19 pandemic, an increase from RM95.8 million in 2019.
Its chief executive officer George Taitim Tulas said good management and sound strategies were reasons for the profit-making year.
He said the SCC paid a minimum of RM15 million in dividend to the State Government every year.
“Last year, we paid a dividend of RM17 million to the State Government.
“Since 2005, SCC had paid to the State Government more than RM299 million in dividends, whereas the share capital the State Government pumped into SCC is RM200 million.”
George said this when briefing Sabah China Chamber of Commerce (SCCC) committee members on SCC’s background during a courtesy call by the delegation to SCC chairman Datuk Dr Yee Moh Chai here on Thursday.
He also elaborated on the various financing facilities to assist individuals and companies to SCCC.
Besides that, he said SCC allocated a maximum fund of RM5 million a year for corporate social responsibility (CSR) programme.
Among the CSR programmes undertaken by the corporation were building rural hostels, acquire dialysis machines for hospitals and assisting single mothers, orphans and people with disabilities (OKU).
“We have contributed RM1.5 million to the State Government for Covid-19 Fund.
“We have also acquired more than 30 dialysis machines for government hospitals,” he added.
SCC is a statutory body fully owned by the Sabah State Government and operates under the purview of the Sabah State Ministry of Finance.
SCC, formerly known as the North Borneo Credit Corporation (NBCC), was incorporated on June 15, 1955 under the Credit Corporation Ordinance No. 1 of 1955.
NBCC commenced operations with a launching grant of $1 million from part of the Japanese Compensation Fund.
NBCC was then under British Colonial Administration and was manned with a grain staff strength of four.
In 1972, the NBCC was renamed SCC.
In 1981, the Ordinance was replaced by the State Enactment No. 22 of 1981. From then on, the activities of the Corporation are governed by this Enactment.
The primary objective of the Corporation is to help contribute towards the socio-economic development of the State of Sabah.
Meanwhile, SCCC president Datuk Frankie Liew hoped that SCC would provide financing to speed up the recovery of businesses that have been badly affected by the Covid-19 pandemic and movement control order.
He suggested offering low-interest loans to Sabahan entrepreneurs for them to have sufficient financial resources to collaborate with their counterparts in China.
He said SCCC would strive to attract more Chinese investors to Sabah to boost the local economic sectors and create more job opportunities to complement the State Government’s Sabah Maju Jaya development plan.
Liew is also confident that Yee’s vast experience and knowledge would enable him to contribute significantly to SCC and the economic development of Sabah.
Also present were SCC chief operation officer Chang Kok Kien, SCCC deputy president Datuk Soh Poh Soon and committee members.
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