Sarawak Economic Development Corporation

SEDC has always maintained a policy of adhering to good corporate governance in managing its activities and operations.

Towards this end, SEDC has structured its governance system with well defined Terms of Reference and limits of authority.

At the apex of this governance system is the minister responsible for the Corporation (YAB Chief Minister of Sarawak).

SEDC was established by the SEDC Ordinance Act in 1972. Its Board is appointed by the Minister and is constituted of the following members:-

The Board meets on a quarterly basis.

To assist the Board in the performance of its duties, 3 Board Committees have been formed. They are:-

Various Committees have also been formed at Management level to ensure well informed decisions are made based on collectivism and transparency. These include the following:-

For effective time management, SEDC adopts a calendarised system of meetings.

To enhance transparency and openness in its operation, SEDC has adopted Transparency International's Integrity Pact and incorporated the same as part of its tender procedure and in the appointment of consultants. Tenderers are also required to sign a Declaration of Bona Fide Quotation/Tender in the approved format.

An added feature in its tender procurement process is the requirement for all those involved in the tender opening to sign a confidentiality or non-disclosure agreement. This is a distinct and unique feature of the SEDC tender procurement.

The SEDC Management had always been committed to strengthening integrity in the Corporation and this is reflected by the fact that upon taking over the helm in May 1995, the current Chairman emphasised integrity as one of the pillars for good corporate governance.

A very high premium is attached to integrity as a factor in determining whether or not to recruit any person and whether or not an officer should be emplaced, confirmed or promoted.

The Corporation also celebrated the National Integrity Day and participated in the Integrity Day exhibitions on a regular basis.

Indeed, SEDC also seek to inculcate good values, in particular good business ethics and integrity, and nurture that as a way of life for its employees.

In recognition of its efforts to enhance integrity, te Corporation was awarded the "Malaysian Business Ethics Excellent Award 2008" by the Minister of Domestic Trade and Affairs on 11 November 2008.

As part of efforts to improve its delivery system, the Corporation will upgrade its MS ISO 9001:2000 to the new version.

The Corporation is also reviewing its Financial Regulations to bring the same to suit current requirements and needs.