By DayakDaily Team
KUCHING, June 18: Sarawak is ramping up efforts to boost Bumiputera participation in the national economy, with the aim of listing at least three Sarawak Bumiputera companies on Bursa Malaysia by 2030.
According to a report by the Sarawak Public Communication Unit (Ukas), Deputy Premier Datuk Amar Awang Tengah Ali Hasan said this target is part of the broader Sarawak Bumiputera Economic Action Plan 2035 (SBB2035), which is driven by the state’s 3-7-20 strategic framework.
The strategic framework sets three key targets: to list three Sarawak Bumiputera companies on Bursa Malaysia, produce seven ‘Champion’ companies in strategic sectors under the Post-COVID-19 Development Strategy 2030 (PCDS 2030), and upgrade 20 percent of micro-enterprises to ‘Sdn Bhd’ status by 2030.
“This target is not just a number, but a symbol of our commitment to produce Bumiputera companies that are resilient, high-impact and contribute directly to the economic growth of the state and the country,” he said in his speech read by Advisor to the Ministry of International Trade, Industry and Investment Sarawak (MINTRED), Dato Sri Mohd Naroden Majais at the Road to IPO: Sarawak Edition 2025 programme today.
Awang Tengah emphasised that the 3-7-20 strategy was developed through a comprehensive and inclusive approach to strengthen Bumiputera economic resilience and visibility in the mainstream business landscape.
He added that achieving this vision would require a comprehensive approach, including access to financing, sound corporate governance, capacity building, and greater exposure to capital markets.
Awang Tengah, who is also the Minister of MINTRED, stressed that listing on Bursa Malaysia is a strategic step, not only to gain prestige, but to strengthen transparency, open up access to greater capital, as well as strengthen the corporate structure for sustainable long-term growth.
“The listings symbolise the market’s confidence in the capabilities of Bumiputera companies and strengthens the company’s brand at the national and international levels.
“It also inspires the next generation of entrepreneurs,” he added.
To support the initiative, strategic collaborations are already underway between TERAJU, financial institutions, and Bursa Malaysia through platforms such as the Bumiputera Expansion and Catalyst Fund (BECF) and Islamic Working Capital Project Financing (I-WCPF).
Awang Tengah also called for stronger cooperation between the Sarawak government, the federal administration, investment institutions, and the investor community to develop a new wave of competitive Bumiputera entrepreneurs.
Also present at the event were TERAJU chief executive officer Junady Nawawi, chairman of the Sarawak Bumiputera Socioeconomic Group, Bumiputera Economic Congress 2024 Tan Sri Datuk Amar Mohamad Morshidi Abdul Ghani, and other dignitaries. – DayakDaily
