PENAMPANG – Sabah Credit Corporation (SCC) started as a vehicle to provide micro financing to outreaching areas that were targeted by the State.
In its early years, the first ordinance passed by the Colonial Government of North Borneo was known as the Credit Ordinance with a launching capital of US 1 million from part of the Japanese War Compensation Fund.
“In our loan history, we have provided financing for vegetables and fruit farming, cocoa and oil palm plantations, transportation, rural housing, small projects and even loans to purchase buffaloes for farming and animal husbandry,” SCC Chief Executive Officer Datuk Vincent Pung said in his speech at the 60th Anniversary of SCC celebration, here today.
He added that SCC was previously a pioneer in developing outlying districts and initiated developments in small towns.
“We provided small town like Beluran, Semporna, Lahad Datu, Kota Marudu and Sipitang a financing facilities when other banks were not keen to venture in these areas,” he said.
For the past 60 years, SCC has encountered many challenges and embarked on changes along the journey.
Pung said the toughest challenge was to confront the little Napolean mentality that existed among staff.
“It was not an over night transformation but a slow grinding, painstaking effort of fusing reluctant people, bureaucratic processes, obsolete technology and re-engineering them so that we can provide with the best quality services to our clients,”he said.
Helping SCC to evolved into a hybrid self-sustaining organization is none other than the Chief Minister Datuk Seri Musa Aman who give his support in unlocking the potential of SCC.
Last year, SCC has recorded a profit of RM71 million; compared to RM6 million fifteen years ago. – SayangSabah