KOTA KINABALU: Chief Minister Datuk Seri Panglima Haji Hajiji Haji Noor wants Sabah Development Bank Berhad (SDB) to turn around its business and assist the State Government in developing Sabah.

“Our main aim is to revamp SDB because I see SDB as important for Sabah to progress.

“That is why when I took over (as Chief Minister) the first thing on my mind was SDB. I want it to function efficiently and to progress because it is an important development vehicle for the State Government,” he said during his maiden working visit to SDB at Wisma Tun Fuad Stephens here on Monday.

On hand to greet him were SDB Chairman, Datuk Pangiran Hassanal Pg Mohd Tahir and SDB Managing Director/Chief Executive Officer Datuk Vincent Pung.

He was also given a briefing on SDB’s overall performance by Pung who took over SDB as MD and CEO about 11 months ago.

Hajiji is confident that under the leadership of Datuk Vincent Pung and Datuk Pangiran Hassanel Pg Mohd Tahir, SDB will be able to find ways not only to rebrand itself but also discharge its duties to help the State Government.

The Chief Minister said that his main objective is to boost Sabah’s economy through the Hala Tuju Sabah Maju Jaya (SMJ) and Economic Recovery Plan, which aimed to creating a friendly business climate to attract investors to come and in the process create more jobs for Sabahans.

Later, Hajiji launched SDB brochure that encapsulated the institution’s services expansion highlighting SDB’s three key roles in promoting the development of Sabah, namely Financing, Advisory and Investment.

The services provided under Financing included Project Finance, Bridging Finance, Fixed Asset Finance, Working Capital Finance and SME Guarantee Scheme.

On the aspect of Advisory, services provided are Corporate Advisory, Financial Intermediary and Loan Syndication.

SDB is also involved in Investment activities, including Venture Capital Equity Participation and Project Rehabilitation.