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KUCHING, Aug 14: Sarawak is standing tall now amongst other states in the Malaysian Federation following Premier Datuk Patinggi Abang Johari Tun Openg’s announcement of Sarawak owning its own sovereign future fund.
Parti Rakyat Sarawak (PRS) youth chief Datuk Snowdan Lawan said the announcement of Sarawak Sovereign Wealth Future Fund, which starts on Jan 1, 2024, with an initial capital of RM8 billion, is a testimony that Sarawak is financially solvent.
He said for years now, there were intentions to initiate it, but for decades, it was not established until recently.
“By virtue of this fund in operation in January 2024, Sarawak will again surface in the global financial arena, at least amongst its members of the International Forum of Sovereign Wealth Fund ( IFSWF).
“This will portray Sarawak’s financial strength in the global financial market as well as her capability in financial management,” said Snowdan, who is also Youth and Sports Deputy Minister, in a statement.
On the board of guardians, he said Sarawakians are placing confidence in them, given their outstanding resume and trust that their business acumen and management expertise will see the fund grow.
“Those in advanced age may not see it materialised, but as the name suggests, our future generation will witness the harvest yield in later years,” said Snowdan. — DayakDaily
