Sarawak-owned enterprises could generate RM9.62 bln in new revenue by 2030, says Premier

Abang Johari (seated centre) along with other distinguished guests and attendees at the Sarawak SOEs Transformation Programme – Phase 2: A Pledge for Good Governance, High Performance and Value Creation at a hotel on Sept 22, 2026.

By Karen Bong

KUCHING, Sept 22: Sarawak’s State-Owned Enterprises (SOEs) could collectively generate an additional RM9.62 billion in revenue by 2030, alongside RM1.6 billion in additional Adjusted Profit After Tax and about RM1.27 billion in dividends between 2027 and 2030, under the Sarawak SOEs Transformation Programme Phase 2.

Premier Datuk Patinggi Tan Sri Abang Johari Tun Openg said the projections emerged from assessments conducted under the second phase of the transformation programme involving 32 statutory bodies and government-linked companies across 17 sectors.

“These are encouraging numbers. But let me be clear: These are projections, not achievements. Their real value will depend on how effectively they are translated into results,” he stressed when speaking at Sarawak SOEs Transformation Programme – Phase 2: A Pledge for Good Governance, High Performance and Value Creation ceremony held at a hotel here today.

Abang Johari said the transformation effort should not rely solely on major entities such as Sarawak Energy Berhad (SEB) and Petroleum Sarawak Berhad (PETROS), but must involve every SOE improving from its own starting point.

He urged organisations to pursue new revenue streams, commercialise underutilised assets, reduce unnecessary costs and explore new markets to strengthen their financial position.

“Financial self-reliance does not mean every state entity must operate under the same model, as some organisations perform regulatory, social or public-service functions that may continue to require government support.

“But it must be matched by clear mandates, measurable outcomes, and financial discipline,” he said.

However, commercially oriented entities, he said, are expected to strengthen revenues, improve productivity, optimise assets and reduce dependency on government assistance.

He added that the transformation programme aims to create stronger institutions capable of generating sustainable returns while contributing to Sarawak’s long-term economic development.
“Government support should serve a clear purpose. It should not create permanent dependency,” he added.

The Phase 2 exercise follows the first phase of the programme, which projected a reduction of approximately RM403 million in operating grant requirements by 2030 and expected more than half of the entities assessed to achieve financial self-reliance.

Moving from direction into action, Phase 2 brings a further 32 statutory bodies and Government-Linked Companies (GLCs) across 17 sectors, each with different mandates, business models, and challenges.

Deputy Premiers Datuk Amar Dr Sim Kui Hian and Datuk Amar Douglas Uggah Embas, Minister of Tourism, Creative Industry and Performing Art Dato Sri Abdul Karim Rahman Hamzah, Minister of Women, Childhood and Community Wellbeing Development Dato Sri Fatimah Abdullah and Sarawak Financial Secretary Dato Sri Dr Wan Lizozman Wan Omar were among the distinguished guests present. — DayakDaily