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Sabah CM Wants State-owned Companies To Be Well-managed
He said only through competent management, state-owned companies could generate profit and assist the government and the people.
Musa, who is also State Finance Minister, hoped the Sabah Rubber Industry Board (SRIB) would be able to assist smallholders who are affected by the continued decline in natural rubber prices.
He was speaking to reporters at a RM5 million mock cheque presentation from SRIB to Sabah Development Bank (SDB) as a partial payment on a RM60 million rolling capital approved in 2011, here Wednesday.
SRIB paid back RM20 million to SDB last year and with today's payment, it has to date settled RM25 million of the amount.
Commending SRIB for repaying SDB for the loan, Musa said it reflected the ability of the management headed by its general manager and aided by board members in turning the board around from a financial quandary several years ago.
Musa thanked the federal government for approving a RM500 aid to eligible rubber tappers and smallholders in Sabah.
news coverage in our Newswire service.
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