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| The Incorporation |
In June 15 1955, the North Borneo Credit Corporation (NBCC) was incorporated under the Credit Corporation Ordinance No. 1 of 1955. NBCC commenced operations with a launching grant of $1 million from part of the Japanese Compensation Fund. NBCC was then under British Colonial Administration and was manned with a grain staff strength of four. |
In 1972, the North Borneo Credit Corporation (NBCC) was renamed Sabah Credit Corporation (SCC). |
In 1981, the Ordinance was replaced by the State Enactment No. 22 of 1981. From then on, the activities of the Corporation are governed by this Enactment. |
| Structure |
The Corporation is a financial institution fully owned by the Sabah State Government in Malaysia and operates under the purview of the Sabah State Ministry of Finance. |
| Objectives & Functions |
The primary objective of the Corporation is to help contribute towards the socio-economy development of the State of Sabah. In its capacity as a financial institution, the Corporation complements the Sabah State Government's efforts by providing or facilitating financial credits to promote and encourage private investment involving agriculture, light industry, development of rural and urban housing, shophouses and public utilities and amenities. |
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| Organisational Chart |
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| Vision & Mission |
VISION- "To Make a Difference"
(By contributing to the State's Economic & Social Agenda).
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MISSION- In order to support the above vision, Sabah Credit Corporation has indentified 5 keys strategies :
- » To Improve Asset Quality
- » To Improve Leadership and Accountability
- » To Simplify Access to Credit Facilities for Small Business
- » To Protect & Improve the Environment
- » To Help The Less Fortunate
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| Quality Policy |
We are committed to provide quality services to our customer by fulfilling their needs with Professional, Caring & Courteous, that is achieved through continuous improvement in the Quality Management System for ensuring organisation excellence. |
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| Client's Charter |
- To provide an efficient and pleasant counter service to the customer.
- To reply all letters within 3 working days upon receipt.
- Loan Approval:
- a) Executive Loan (3 working days upon receipt)
- b) Other Loans (14 working days)
- c) Loans Requiring BOD Approval (1 month)
- To ensure all cheques release to the borrower within 3 working days from the date of requisition form received.
- To return security documents to the owner within 7 working days after the loan settle in full.
- To take action on all customers complaints received within 3 working days from upon receipt.
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Previous Client's Charter
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| Financial Performance |
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BALANCE SHEET AS AT 31 DECEMBER 2008
| ASSETS |
Note |
2008
RM |
2007
RM |
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| Cash and bank balance |
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12,542,377 |
2,172,233 |
| Investments |
5 |
2,795,610 |
2,901,235 |
| Deposits |
6 |
46,339,759 |
82,408,680 |
| Investment in joint venture |
7 |
125,000 |
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| Amount owing from joint venture |
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1,845,902 |
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| Loans, advances and financing |
8 |
1,178,940,422 |
977,993,745 |
| Other receivables |
9 |
5,860,317 |
4,580,869 |
| Property, plant and equipment |
10 |
32,747,380 |
30,324,382 |
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| TOTAL ASSETS |
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1,281,196,767 |
1,100,381,144 |
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| LIABILITIES AND SHAREHOLDERS' EQUITY |
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| Borrowings |
11 |
1,096,942,679 |
938,916,514 |
| Other payables and accruals |
12 |
38,503,407 |
36,503,914 |
| Current tax liabilities |
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4,198,362 |
1,243,354 |
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| TOTAL LIABILITIES |
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1,139,644,448 |
976,663,782 |
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| Share capital |
13 |
50,000,000 |
45,000,000 |
| Non-distributable reserves |
14 |
114,497 |
33,421 |
| Accumulated funds |
15 |
91,437,822 |
78,683,941 |
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| SHAREHOLDERS' EQUITY |
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141,552,319 |
123,717,362 |
| TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY |
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1,281,196,767 |
1,100,381,144 |
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INCOME STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2008
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Note |
2008
RM |
2007
RM |
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| Interest income |
16 |
102,407,565 |
77,011,128 |
| Interest expense |
17 |
(40,958,015) |
(27,414,916) |
| NET INTEREST INCOME |
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61,449,550 |
49,596,212 |
| Non-interest income |
18 |
4,064,147 |
1,872,288 |
| Non-interest expense |
19 |
(7,334,798) |
(7,314,261) |
| NET INCOME |
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58,178,899 |
44,154,239 |
| Operating expenses |
20 |
(20,315,315) |
(17,554,495) |
| SURPLUS BEFORE TAX |
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37,863,584 |
26,599,744 |
| Tax expense |
21 |
(12,670,627) |
(8,341,706) |
| NET SURPLUS FOR THE YEAR |
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25,192,957 |
18,258,038 |
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Click here to Download our "ANNUAL REPORT 2006"
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Click here to Download our "ANNUAL REPORT 2007"
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Click here to Download our "ANNUAL REPORT 2008 Writeup"
Click here to Download our "ANNUAL REPORT 2008 Financial"
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| Quality Recognitions |
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| MS ISO 9001:2000 Quality System Registration Certificate |
Chief Secretary to the Government Quality Award (Malaysia) - 2004 |
Chief Minister's Quality Award (Sabah) - 2004 |
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| Human Resource Management Quality Award (Sabah) - 2003 |
Financial Management Quality Award (Sabah) - 2002 |
Information Technology Quality Award (Sabah) - 2002 |
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| Human Resource Management Quality Award (Sabah) - 2000 |
Counter Management Quality Award (Sabah) - 1999 |
Information Technology Quality Award (Sabah) - 1997 |
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| Financial Management Quality Award (Sabah) - 1996 |
Champion, State Civil Service Choir Competition (Sabah) - 2000,2001,2003,2004 |
Champion, State Civil Service Choir Competition (Sabah) - 2005 |
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| Location Address |
Wisma PPS
Donggongon New Township
89500 Penampang
Sabah |
| Mailing Address |
Sabah Credit Corporation
P.O. Box 10451
88805 Kota Kinabalu
Sabah |
| TEL: 088-323888 |
| FAX: 088-718181 |
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Last updated : 02-02-2010 |
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