KOTA KINABALU: Sabah Development Bank (SDBank) will be under the purview of the  Chief Minister, the State of Sabah (Chief Minister (Incorporation) Ordinance) from its  current holding company, Sabah Development Berhad, and placed under the direct  supervision of the State Ministry of Finance. 

Announcing this today, Chief Minister Datuk Seri Panglima Haji Hajiji Haji Noor said the  move was part of the measures approved by the State Cabinet to strengthen the State's  support to SDBank. 

"This move reaffirms the State's commitment to fully back SDBank in discharging its  financial obligations and fulfilling its growth ambitions. 

"The mandated ambition moving forward is for SDBank to rigorously focus on socially  and economically meaningful and environmentally responsible development projects in  Sabah," he said. 

The Chief Minister said a new Board had been established to drive SDBank towards this  strategic direction, with Datuk Seri Panglima Lim Haw Kuang as the Executive  Chairman. 

Other Board members are Finance Ministry Permanent Secretary Datuk Mohd Sofian  Alfian Nair, Patricia Ubing (Senior Independent Non-Executive Director), Datuk Vincent  Pung, Dr Dionysia Kibat and Datuk Brenndon Keith Soh. 

Hajiji said SDBank will also explore strategic partnerships with other development  financial institutions (DFIs) to fund targeted development projects in Sabah. 

"The State Government sees SDBank as key in supporting the State's strategic thrust  under the Hala Tuju Sabah Maju Jaya in promoting and implementing development  projects for the best interest of Sabah," he said. 

Ends