KOTA KINABALU (Jan 16): State Finance Minister Datuk Seri Panglima Masidi Manjun has teamed up with the Sabah Association of Professional Accountants (SAPA) to boost state revenue and support local professionals.
Following a recent visit from SAPA, led by chairman Datuk Tan Kok Liang, a joint working group will develop policy proposals focusing on five key areas:
• Stricter Enforcement: Strengthened enforcement of work pass regulations and trading licenses, including mandatory immigration work passes (pending Cabinet approval).
• Local Expertise First: Prioritizing Sabah-based accountants and firms in partnerships with outside professionals.
• Auditor Rotation: Reviewing a proposal to rotate auditors for government-linked companies every seven years.
• Local Procurement: Exploring local content requirements or partnerships in government procurement of financial services.
• SAPA Expertise: Utilizing SAPA’s expertise in financial, fiscal and economic development.
Masidi praised SAPA’s practical recommendations and emphasized the importance of ongoing professional development for its members.
The joint working group will submit a comprehensive policy proposal to the State Cabinet.
Masidi reiterated the need for improved financial literacy among businesses and the public sector.
Tan also expressed confidence in SAPA’s role in strengthening the accounting profession in Sabah and looked forward to collaborating with the government and other stakeholders.
Press Release:
Sabah Government Partners with Accountants to Boost State Revenue https://www.theborneopost.com/2025/01/16/sabah-govt-partners-with-accountants-to-boost-state-revenue/