From O&G to banking: S’wak’s strategic asset expansion to boost economy, erase ‘rich State, poor people’ label

Wan Junaidi and Abang Johari parading through Padang Merdeka on a special military jeep to greet the participants during a grand parade on Oct 12, 2024.
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By Karen Bong

KUCHING, Oct 12: The Sarawak government’s strategic efforts to expand its key assets—becoming the largest shareholder of Affin Bank, taking control of Bintulu Port, and positioning Petroleum Sarawak Berhad (Petros) as the sole gas aggregator—are aimed at strengthening the region’s economy, raising household incomes, and dispelling the perception of Sarawak as a ‘rich State with poor people’.

Addressing a grand parade in conjunction with Sarawak Governor Tun Pehin Sri Dr Wan Junaidi Tuanku Jaafar’s 78th birthday celebration at Padang Merdeka today, Premier of Sarawak Datuk Patinggi Tan Sri Abang Johari Tun Openg stressed that the aggressive diversification of Sarawak’s economy will not only fortify the region’s economic standing but also enhance its resilience against global challenges.

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“These measures are designed to strengthen Sarawak’s economy with the ultimate goal of elevating household incomes above the national average.

“Under the GPS (Gabungan Parti Sarawak) government, Sarawak has already made significant strides, including becoming the largest shareholder of Affin Bank and reclaiming Bintulu Port from federal control—both key drivers of economic growth,” he stated.

Sarawak Governor’s wife, Toh Puan Fauziah Mohd Sanusi; Deputy Premiers Datuk Amar Awang Tengah Ali Hasan, Datuk Amar Douglas Uggah Embas, and Datuk Amar Dr Sim Kui Hian; Minister of Tourism, Creative Industry, and Performing Arts, Dato Sri Abdul Karim Rahman Hamzah; ministers; and deputy ministers were among the distinguished guests present.

Wan Junaidi (second left) and wife Fauziah (second right), together with Abang Johari (left) and Abdul Karim’s wife Datin Sri Zuraini Abd Jabbar, rejoice after the cake-cutting ceremony during the grand parade to mark the 78th birthday of Sarawak Governor at Padang Merdeka on Oct 12, 2024.
The guard of honour at the grand parade to mark Sarawak Governor’s 78th birthday celebration at Padang Merdeka on Oct 12, 2024.

To ensure Sarawak’s continued progress, Abang Johari urged Sarawak’s sons and daughters to embody the ‘Agi Idup Agi Ngelaban’ (as long as you’re alive, you keep on fighting) spirit, following in the footsteps of Wan Junaidi, and continue to serve and contribute to the prosperity of Sarawak and Malaysia.

In a notable update, the Premier expressed optimism that Sarawak’s acquisition of MASwings, which is currently in advanced negotiations, will be concluded soon.

“Owning our own airline is essential not only for transporting passengers but also as a strategic investment to stimulate economic growth and support the service chain,” he explained.

He also highlighted that Sarawak’s stake in Affin Bank is expected to solidify its presence in the financial sector, particularly through enhancing access to financing for small and medium enterprises (SMEs), thus driving broader economic development.

The Saberkas contingent marches in bearing the Sarawak’s Ibu Pertiwi flags during the grand parade to mark the Sarawak Governor’s 78th birthday celebration at Padang Merdeka on Oct 12, 2024.
The Ministry of Transport contingent marches in during the grand parade to mark Sarawak Governor’s 78th birthday at Padang Merdeka on Oct 12, 2024.

“Furthermore, the takeover of Bintulu Port represents a critical step in gaining full control of a vital economic hub, pivotal for the region’s trade and commodity exports.

“To ensure efficient management and future expansion, all Sarawak ports will be unified under a single port authority, including the future Kuching deep water port at Tanjung Embang,” he said.

Abang Johari added that the Kuching Port will play a crucial role as a regional hub, offering green fuel bunkering services and serving as a liquefied natural gas (LNG) terminal.

He also noted that Bintulu Port’s shipping services are expected to expand following the recent launch of the Borneo Supply Base, which is managed by the Bintulu Port Sdn Bhd, a subsidiary of Bintulu Port Holdings Berhad. The facility which marks a historic shift in the region’s offshore petroleum operations, traditionally been centred in Labuan, is to support Sarawak’s petroleum industry.

Singing performance during the grand parade to mark Sarawak Governor’s 78th birthday celebration at Padang Merdeka on Oct 12, 2024.
Dance performances are among the highlights at the grand parade to mark Sarawak Governor’s 78th birthday celebration at Padang Merdeka on Oct 12, 2024.

“I am also confident that the autonomy Sarawak holds under the Gas Distribution Ordinance 2016 (GDO 2016), which implements the programmes outlined in the Sarawak Gas Roadmap to channel natural gas to other gas terminals in Sarawak from Bintulu, will have a profound impact on the region’s gas and petroleum industries,” he said.

Meanwhile, the celebration commenced with Wan Junaidi inspecting the guard of honour, followed by the firing of 17 cannon shots.

Sarawak Governor, accompanied by the Premier, then toured the field in a special military jeep, greeting the 78 contingents, comprising ministries, departments, uniform bodies, corporations, non-governmental organisations, and associations, assembled for the celebration.

A performance of ‘Dirgahayu’ by singer Bob Yusof, along with 50 students, paid tribute to Wan Junaidi before he ceremoniously cut the birthday cake, while the parade filled Padang Merdeka with vibrant colours. — DayakDaily

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