KOTA KINABALU: Sabah could have saved a lot of taxpayers' money by shutting down non-performing government-linked companies.
Without disclosing the number, State Finance Minister Datuk Seri Masidi Manjun said out of about 100 GLCs in the state, only a few are making money.
He said those GLCs and the state government as their workers' paymasters, are created to deliver profits in terms of dividends to the state.
Masidi added that companies should stop acting as if they are a mere extensions of government departments.
When asked how many GLCs could be possibly closed down, he only said: "There are more losses than profitable GLCs…could have avoided many wastages.
"We are not saying to penalise those who have failed. Those who have failed should try (harder). We do give them a lot of opportunities.
"But if they still fail, two (inevitable) things are either to change them or close the company. Enough is enough," said Masidi, adding the state government is not a charitable organisation for these non-performing GLCs.
Masidi was giving a press conference after launching Sabah Credit Corporation's Yono super application at the Sabah International Convention Centre here today.
He also reminded those appointed as executives or top leaders at GLCs to be accountable to ensure their businesses are profitable.
"We pay salaries, but there are no dividends coming in. There is no business plan in some of them (GLCs).
"I cannot stop emphasising the principle of accountability. Some are blaming that (appointed) directors are people who are not qualified for the post, it can be anyone.
"But the moment you sit on the board as a director, you have to treat yourself differently," he said.
Present were Sabah Credit Corporation chairman Datuk Seri Dr Yee Moh Chai and chief executive officer George Taitim Tulas.
