The third of a six-part monthly series on SEDCO featuring its contribution to Sabah’s economic development

If any sector of Sabah’s economy has been more positively impacted than others by the Sabah Economic Development Corporation (SEDCO), it is the services sector. The successes achieved by SEDCO over forty years and the current pattern of Sabah’s economic progress testifies to this. Today the services sector accounts for almost 50% of the State’s GDP and employs some 640,000 persons or 53.3% of the work force.

The second of a six-part monthly series on SEDCO featuring its contribution to Sabah’s economic development

SEDCO’s Early Years in Property Development

When the Sabah Economic Development Corporation (SEDCO) was incorporated on 21 December, 1971, its involvement in the property development sector had already been pre-determined. The government felt that maximum impact could be achieved in promoting the Bumiputera agenda by focusing on two key sectors of the economy, mainly the provision of business and commercial premises for Bumiputera and trading in consumer goods and construction materials. Accordingly, Milek Perkasa Sdn.Bhd., a property development company and one wholly-owned trading company were established in January 1972.