The practice of good corporate governance is critical to Sabah Credit Corporation’s (SCC) strategic positioning plan as it moves from a government-supported organization to a self-sustaining organization. SCC believes that it is important to set global principles that guide its board members in streamlining and governing the affairs of the corporation, with a view to maximizing long term value for the State Government and the interest of its stakeholders.
Good corporate governance ensures that there is a proper organizational system in place, which provides adequate internal controls with check and balance of authority mechanisms. Over the years, SCC has evolved processes and systems that enhance good corporate governance through the conduct of regular review for continual improvements.
Among other practices, members have organized a number of committees as well as provided representation from management as a way to assist members in streamlining and governing the affairs of the Corporation.