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Subject Sabah Development Bank's actions to full audit! | Daily Express Online


Published on: Sunday, July 25, 2021
By: Datuk John Lo
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TAN Sri Harris, during his CM tenure, had a big vision for Sabah. Among the many development vehicles that he had formed, the most important were Sabah Bank and Sabah Development Bank. 
How he managed to get approvals for these two financial institutions from the Federal Government was miraculous as no other state up to day have succeeded to get even 1 financial institution in the name of their states! 
His objective for these two financial institutions, together with Sabah Credit Corporation and Borneo Housing was to finance and accelerate Sabah’s economic development. Sabah Bank, sadly is now history, having been absorbed into Singapore’s Alliance Bank. ....

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Transforming Sabah's bleeding GLCs | Daily Express Online - Sabah's Leading News Portal


Published on: Sunday, May 16, 2021
By: Datuk John Lo
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THANKS for the many calls, messages and suggestions on my article on Sabah’s GLCs 11 April 2021. Many expressed grave concerns on the dire circumstances of some GLCs and their overall negative impacts on Sabah’s economy. 
Some gave very useful suggestions and recommendations. Common desire, as it should be, is that current GLC situation must not, should not be allowed to continue. 
There must be a thorough review and transformation. To encourage further discourse on the GLCs, here are some of my further comments.
Causes of Most GLCs’ Failure.
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Airline rescues and restructuring gathering speed, but headwinds abound


MALAYSIA Airlines Bhd (MAS) appears to have a head start on its closest rivals AirAsia Group Bhd, AirAsia X Bhd (AAX) and Malindo Airways Sdn Bhd after closing a restructuring deal that sees it emerging with a stronger balance sheet, having eliminated some RM10 billion in debt.
Last week, the UK court approved the national airline’s plan to restructure more than RM15 billion in liabilities, which effectively removes “decades-long legacy issues in its balance sheet”, its parent Malaysia Aviation Group Bhd (MAG) says. The plan includes a RM3.6 billion lifeline from its sole shareholder Khazanah Nasional Bhd to support the carrier’s new five-year business plan, which envisages MAS returning to profitability from 2022. ....

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