KOTA KINABALU: The Sabah government has introduced a new policy to boost local economic participation in the procurement of audit and financial services by State Statutory Bodies and government-linked companies.

Under the new guidelines, contracts for audit and financial services valued below RM50,000 must be awarded exclusively to Sabah-based firms registered with the Sabah Association of Professional Accountants (SAPA).

For contracts exceeding RM50,000, priority must still be given to local firms, with exceptions allowed only upon written justification to the Ministry.

On the guidelines, state Finance Minister Datuk Seri Masidi Manjun said that the policy prioritises appointing accounting firms domiciled in Sabah.

He added that this marks a significant step in empowering local professionals and enhancing the state’s accounting sector competitiveness."This policy is not just about procurement; it is about.... read more