Monday, November 14, 2011

S'wak manages its finances prudently, says Taib

KUCHING: Sarawak has managed its finances in a transparent and prudent manner as reflected in the "Clean Certificate" it received for the 2010 Public Accounts for the ninth consecutive year, said Chief Minister Tan Sri Abdul Taib Mahmud said.

Taib, who is state Finance Minister, said the state had also again been affirmed with commendable credit ratings from both the international and domestic rating agencies, including Moody's, Rating Agency Malaysia (RAM) and Malaysian Rating Corporation Berhad (MARC).

"These track records show that the state government has conducted its financial affairs in a transparent, accountable and prudent manner in line with the applicable rules and regulation and must, therefore, continue to be disciplined in the way we manage our finances if we were to continue to be a financially healthy state," he said when tabling the Supply (2012) Bill, 2011 during the Sarawak legislative assembly sitting here.

He said it was much more critical now for Sarawak to ensure sustainability of its credit ratings, especially in its efforts to attract direct and indirect investments into the state in a bigger way in the future.

Sarawak was the only state in the country that had been able to place itself to greater scrutiny and review by such rating agencies that benchmarked its financial management with that of countries around the world, he said. - BERNAMA