KOTA KINABALU: There is no need for a White Paper on the management and financial fiasco of the state-owned Sabah Development Bank , which chalked up RM5bil in non-performing loans from 2013 to 2018, says Datuk Seri Masidi Manjun.
"If there are suspicious cases that warrant further investigation, we will refer them to the appropriate authorities," added Masidi, who earlier this week told the Sabah legislative assembly that creative accounting practices had put the bank's finances in the red. The issue of SDBank's alleged losses and creative accounting took centre stage at the assembly, with Masidi and Shafie, the Senallang assemblyman, sparring over the issue, which has been in the public spotlight.
He said SDBank's NPLs were"secured and recoverable" after the new management took over the state-owned bank in mid-2023.