4 days ago
Sabah Credit Corporation manages RM3.864 billion assets
Published on: Tuesday, June 17, 2025
Published on: Tue, Jun 17, 2025
By: Wu Vui Tek Text Size: Masidi, Yee, George (sixth to eighth from right) and guests with CSR project recipients in front. Kota Kinabalu: The Sabah Credit Corporation (SCC) is now managing assets of RM3.864 billion, growing from its initial RM1 million seven decades ago, thanks to unwavering support from all key stakeholders. Chief Executive Officer Datuk George Taitim Tulas said SCC's audited profit before tax last year stood at RM117.29 million.
Advertisement 'With our continued success, we have contributed dividends totalling about RM369 million to the state government. 'We have also paid RM141.6 million in loan interest and RM1.3 million in zakat,' he said during SCC's 70th anniversary celebration at the Sabah International Convention Centre. He said SCC's corporate social responsibility programme has benefited communities with more than RM70 million worth of support, including infrastructure, medical equipment, donations and sponsorships. SCC has embraced digital transformation, including launching the YONO app and nearing completion of its risk management IT framework. George said its subsidiary, Manggaris IT, developed a digital parking system for local authorities that meets SAGA requirements and incorporates YONO. The system is currently in use in Putatan and will soon be extended to Keningau and Tawau. He added that SCC has partnered in state government programmes such as the Sabah People's Housing Scheme, the Sentuhan Kasih Rakyat Programme (SHUKUR), and the Dayang Programme to support affordable housing and financial assistance for the people. Finance Minister Datuk Seri Masidi Manjun, who attended the event, said SCC's role in facilitating credit has led to tangible improvements in agriculture, light industries, rural development, urban housing and public utility projects. 'SCC has consistently improved asset quality, strengthened internal governance and upheld leadership accountability, which is commendable in any financial institution,' he said. At the event, SCC contributed RM1,277,793.45 to five recipients under its CSR projects. The recipients were SK Tempasak Togudon Penampang (RM349,980.65) to build a rural hostel, KK Lions Ambulance Service Society (RM243,800) to buy a vehicle, St John Ambulance Malaysia (RM235,012.80) also to buy a vehicle, Sabah Kidney Society (RM50,000) for pharmacy items for its haemodialysis machine, and SMK Limbanak Penampang (RM399,000) to build a rural hostel. SCC was founded on June 15, 1955, as the North Borneo Credit Corporation with a grant of one million dollars from the Japanese Compensation Fund. It was rebranded as Sabah Credit Corporation in 1972 to focus on financial inclusion and socio-economic development in Sabah. Also present were SCC Chairman Datuk Seri Dr Yee Moh Chai and Deputy Chairman Datuk Surinam Sadikum. * Follow us on our official WhatsApp channel and Telegram for breaking news alerts and key updates! * Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available.
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