KOTA KINABALU: The Sabah government is encouraged to hold at least 30 per cent equity in domestic investment projects to empower the economy of the state, said Datuk Ewon Benedick (PH-Kadamaian). He said this ownership could be done through state-owned companies and would create a sense of ownership to generate greater returns in line with the state government’s direction.

According to BERNAMA News Agency, Ewon congratulated the Sabah government for implementing requirements for equity ownership in state investments, including foreign investments. He emphasized that investors would no longer be granted land ownership; instead, they would only receive leases. This statement was made during the Sabah State Legislative Assembly as he debated the Supply Bill (2025) 2024 (Sabah Budget 2025).

Ewon, who also serves as the federal Entrepreneurship Development and Cooperatives (KUSKOP) minister, highlighted the need for the state government to focus on acquiring Sabah Electricity Sdn Bhd. This follows the transfer o
f energy and gas regulatory powers to Sabah in January. He expressed belief that with the ability to generate significant revenue, the Sabah government could plan to fully acquire the shares currently held by Tenaga Nasional Bhd (TNB) in Sabah Electricity.

Sabah Electricity is a utility company providing electricity in Sabah and Labuan, with 80 per cent ownership by TNB and the remaining 20 per cent by the state government. Ewon suggested that full ownership of power plants would strengthen the company rather than merely purchasing energy from independent power producers.