By Marlynda Meraw
KUCHING, May 28: The Sarawak Sovereign Wealth Future Fund (SSWFF) has secured approval from relevant authorities to begin global investments, marking a key milestone in the State’s long-term wealth strategy.
Sarawak Premier Datuk Patinggi Tan Sri Abang Johari Tun Openg announced this during his ministerial winding-up speech at the Sarawak Legislative Assembly (DUS) today, noting that the approval opens the door for Sarawak to tap into international opportunities and maximise returns.
“This marks a crucial step in portfolio diversification, opening the door to international opportunities that will help maximise long-term returns for Sarawak and her people,” he said.
The Fund is currently transitioning into its capital deployment phase for the year 2025, with initial emphasis on appointing External Fund Managers.
According to Abang Johari, the first group, focused on fixed income investments, is already in the final stage of appointment, with more asset classes to be managed in subsequent phases.
“Our focus remains on capital preservation while laying the groundwork for sustainable, long-term growth, ensuring the Fund becomes a lasting resource for future generations of Sarawakians,” said Abang Johari.
After Abang Johari’s study visits to Norway, Singapore and the United Kingdom, the SSWFF was legislated through the SSWFF Board Bill and kickstarted with an initial allocation of RM8 billion from the State Consolidated Fund.
This allocation was made possible only after the Bill’s passage in the Sarawak DUS on November 22, 2022.
The Fund was conceived not just to grow wealth but also to safeguard it with transparency and accountability, echoing global best practices in sovereign fund governance.
Under its fiscal roadmap, the SSWFF is scheduled to receive annual appropriations of RM300 million from year two to year five, followed by RM550 million per year from year six to year ten, and RM650 million annually from year eleven to year twenty. –DayakDaily
