Premier: West Malaysia keen to emulate Sarawak in developing Malay native land

Abang Johari speaking during the launch of the Hikmah Exchange on Aug 5, 2023.

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By Karen Bong and Wilfred Pilo

KUCHING, Aug 6: Sarawak Premier Datuk Patinggi Tan Sri Abang Johari Tun Openg shares that West Malaysia wants to emulate Sarawak in developing their Malay native land like the model managed by Yayasan Hartanah Bumiputera Sarawak (YHBS)

Abang Johari cited those who wanted to develop Kampung Baru in Kuala Lumpur and come to Kuching to learn to develop the land using the YSBH model.

He said when he was Satok assemblyman, he set up the Real Estate Investment Trust (REIT), which is used to administer land property with a new method where the share will be held by those who invest in unit trusts.

“Therefore, not only can the Malay community save and invest in the unit trust, but it could also be further developed to protect properties in the Malay area.

“The model used by YHBS has become one of our approaches to protecting the commercial and the property belonging to the Malay community. This is for the Malay Bumiputera to cooperate with the community in the business world,” he said.

Abang Johari revealed this during the launching of the Hikmah Exchange last night (Aug 5).

He revealed before that many properties and buildings in Satok belonging to the Malay community got disposed of under the Islam Faraih Law, and many of these properties were quickly sold off, as it was divided among surviving family members.

“Fortunately, many properties in the Satok area these days have been taken over under YHBS, so these properties held by the Malay community in the Satok area are not lost and could develop together among the community,” he said.

Abang Johari, also the chairman of YHBS, believed that other Bumiputeras would use their model to develop properties to boost the local economy.

“The Malay Bumiputera community, together with other Bumiputeras in Sarawak, can continue to manage and distribute their wealth,” he said. — DayakDaily