By Daniel John Jambun, Borneo’s Plight in Malaysia Foundation (BoPiMaFo)
KOTA KINABALU: Borneo’s Plight in Malaysia Foundation (BoPiMaFo) takes note of the announcement that Yayasan Sabah Group recorded RM683 million in pre-tax profit for 2025 — reportedly the highest in its history.
If true, this is not a small achievement.
But let us be absolutely clear:
A state-linked foundation is not a private empire.
It is a public trust.
And when a public institution announces “record profits,” the people of Sabah have every right to demand full transparency and direct public benefit.
1. HEADLINE FIGURES ARE NOT ENOUGH
The public must understand:
“Pre-tax profit” is not the same as final retained earnings.
It does not automatically reveal:
– total tax liabilities
– debt exposure
– long-term obligations
– one-off gains
– asset disposals
– deferred liabilities
– actual cash reserves
Furthermore, Yayasan Sabah operates through multiple commercial subsidiaries and investment arms.
Sabahans therefore deserve clarity on:
– how the RM683 million figure was calculated
– how much came from plantations
– how much came from energy and investments
– how much was recurring operational profit
– how much involved extraordinary or non-recurring gains
If the numbers are strong, then transparency should not be feared.
2. THE REAL QUESTION: WHERE DOES THE MONEY GO?
For decades, Sabahans were repeatedly told:
– there was insufficient funding
– rural development was difficult
– scholarships were limited
– infrastructure expansion faced constraints
Now we are told Yayasan Sabah is generating historic profits.
Good.
Then the people are entitled to ask:
How much will directly benefit Sabahans?
How much will go into:
– rural schools
– scholarships
– indigenous community development
– water access
– digital infrastructure
– youth empowerment
– local entrepreneurship
A foundation created for the people of Sabah must ultimately be judged not by headlines — but by impact on ordinary Sabahans.
3. RECORD PROFITS MUST COME WITH RECORD ACCOUNTABILITY
BoPiMaFo stresses that higher profits should result in higher public scrutiny.
This is normal in any democratic and accountable system.
The people deserve:
– full audited disclosure
– transparent governance
– public accountability
– measurable community impact
Sabahans should not merely hear about prosperity.
They should experience it.
4. SABAH’S WEALTH MUST NOT REMAIN CONCENTRATED AT THE TOP
Sabah is rich in:
– land
– timber
– plantations
– energy
– natural resources
Yet many rural communities still face:
– poverty
– poor roads
– inadequate schools
– unreliable utilities
This contradiction cannot continue indefinitely.
If Yayasan Sabah Group is genuinely entering a stronger financial era, then the benefits must become visible across Sabah — not confined to annual reports and ceremonial announcements.
BoPiMaFo therefore calls upon Yayasan Sabah Group to publish a comprehensive and publicly accessible breakdown explaining:
– the sustainability of the profits
– the allocation of earnings
– long-term liabilities
– reinvestment plans
– direct socioeconomic returns to the people of Sabah
The people are not asking for slogans.
The people are asking for accountability.
“Sabah’s wealth must be seen in the lives of Sabahans — not merely in corporate headlines.”
