Sabah Credit Corporation (SCC)
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.
The Corporation is a statutory body 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-economic 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.See more