by Marlynda Meraw
KUCHING, May 2: The Sarawak government’s shares in Affin Bank will be placed under Sarawak Incorporated, says Sarawak Premier Datuk Patinggi Tan Sri Abang Johari Tun Openg.
According to Abang Johari, the State government has acquired the maximum of 32 per cent as allowed by Bank Negara Malaysia (BNM).
“The negotiations are more or less finalised, and it is just a matter of official approval from the BNM. Surely, when we (Sarawak government) have received the maximum 32 per cent allowed by the BNM, then there will be changes in the institution,” Abang Johari said following the Sarawak Energy Berhad’s (SEB) Hari Raya Aidilfitri celebration at the Sarawak Energy Tower here today.
As of now the State government is currently waiting for approval from BNM following the finalisation of the negotations, said Abang Johari.
According to their website, Sarawak Incorporated Sdn Bhd is a wholly owned company of the Sarawak government through the State Financial Secretary Incorporation.
SISB commenced operations in 1998 with the aim to become the strategic investment arm of the State government.
Earlier in February, Abang Johari had announced that the Sarawak government will be a blockholder in Affin Bank, with the majoritty block to be owned by Sarawakians and for the State to have its own bank to boost the small and medium-sized enterprises (SMEs).
In January, the Sarawak Financial Secretary said it was close to finalising a memorandum of understanding (MoU) that could potentially lead to an agreement in order to acquire an additional stake from the Armed Forces Fund Board (LTAT).
Presently, the State holds a 4.95 per cent stake in the baking group and is interested in acquiring an additional 15 per cent from LTAT, which directly owns 29.7 per cent of the total shares. — DayakDaily
