By Nur Ashikin Louis
KUCHING, Oct 29: The board of directors for the upcoming Sarawak sovereign fund will consist of those from international professions, says Premier of Sarawak Datuk Patinggi Tan Sri Abang Johari Tun Openg.
He mentioned that he had led a delegation to Norway to study the operation and governance of Norway’s sovereign wealth fund in May this year.
He also mentioned that a similar visit was done to learn about the sovereign fund from the Government of Singapore Investment Corporation (GIC) and Temasek Holdings (Private) Limited in Singapore this year.
“Also, my team and I went to London to get first-hand knowledge from the sovereign fund forum in London. This is the model that we want to follow based on the Santiago Principles.
“And our sovereign fund will be professionally managed (where) even the board of directors will be of all international professions.
“(From here) we hope that will give us a secure future for Sarawakians,” he said when gracing the Development Bank of Sarawak (DBOS) 5th Anniversary dinner broadcast live by Sarawak Public Communications Unit (Ukas) earlier tonight.
Based on previous reports, the Sarawak government led by Abang Johari will table a new ordinance at the Sarawak Legislative Assembly (DUN) next month to provide the legal framework for forming the fund.
Amongst those present were the Premier’s wife, Puan Sri Datuk Amar Juma’ani Tuanku Bujang; Deputy Premier and Minister of Infrastructure and Port Development, Datuk Amar Douglas Uggah Embas; DUN Speaker Datuk Amar Mohamad Asfia Awang Nassar; Sarawak Secretary Datuk Amar Mohamad Abu Bakar Marzuki; Sarawak Financial Secretary Dato Sri Dr Wan Lizozman Wan Omar; DBOS chairman Tan Sri Datuk Amar Mohamad Morshidi Abdul Ghani; and DBOS chief executive officer Datu Laura Lee Ngien Hion. — DayakDaily
