Prudent spending pays during rainy days: Talib

Sulaiman blowing candles on his birthday cake while Talib (4th right) and other department heads look on.

KUCHING: The State government has been prudent and very disciplined in its spending and the reserve is being used to cushion the effects of the global economic crisis.

"We have been very prudent and very disciplined in the past. There is no overspending. We save for the raining days, and today's rainy days.We can draw on our reserve. I am very happy about it," said Sarawak Economic Development Corporation (SEDC) Chairman, Datuk Haji Talib Zulpilip to reporters after welcoming SEDC new General Manager, Dr Haji Sulaiman Haji Husaini.

Talib believed that Sarawak and Malaysia as a whole have not been involved in wild or excessive economic behaviour like the United States. In view of the fact that Sarawak has not been in the centre of the problem, it would recover faster in the present crisis.

He also mentioned that despite the economic downturn which was worse than the crisis of 1997 and 1998, SEDC could still weather it and able to continue to make a profit of RM60 million in 2008.

In view of the economic situation, he predicted there would be a decline in profit of between 20% and 30% as compared to last year, especially in the hotelier sector as well as industrial and construction material sectors.

"According to available data, this situation will persist as the economic situation has been gloomy. This is inevitable and we can only make sure that our subsidiary companies and staff work hard and follow all the plans and regulations."

"To ensure SEDC continues to develop, the important thing is that all the subsidiary companies need to carry out their responsibility in the right manner. Whatever programmes and plans that we have in store must be implemented correctly and perfectly," said Talib.

"He also pointed out that if there were programmes which were not running well, they might need to look for alternatives. We will have them reviewed (which will be carried out in three months time) and after evaluation, we make changes. Most important of all, all our subsidiary companies must be making profits. If they are making losses, they should minimise them," he said.

He also believed that working hard with a bit of working smart and working with integrity have been the fundamental keys to success and profit-making.

On SEDC's participation in Sarawak Corridor of Renewable Energy (SCORE), Talib revealed that SEDC would participate in it by taking part in some of the projects.

"It is a totally different economic programme undertaken by the state government. It is a good economic policy. We will find ways to be involved in it," he said.

Meanwhile, Sulaiman was a Resident of Samarahan Division for seven years. He was responsible for the setting up of Crop Research and Application Unit (CRAUN) of Land Custody and Development Authority (LCDA), its terms and conditions of employment and budget.

He is also a pioneer in setting up of the Human Resource and Computerization of the Ministry of Industrial Development.