Abang Johari does not rule out possibility of Sarawak taking over a commercial bank

KUCHING: Sarawak Premier Tan Sri Abang Johari Tun Openg does not discount the possibility of the state government taking over a commercial bank in the country.

However, he declined to elaborate on a media report saying the Sarawak state government was planning to increase its shareholding in Affin Bank Bhd to 20 per cent.

“I don’t dare comment as Affin Bank is a listed company,” he told reporters here today.

In a filing with Bursa Malaysia on Jan 8, Affin Bank said the company’s major shareholder, the Armed Forces Fund Board (LTAT), had informed that it was in discussions with the Sarawak State Financial Secretary for possible transaction of additional shares in the bank.

As at Dec 29, 2023, the Sarawak State Financial Secretary owned 4.796 per cent equity interest in Affin Bank.

On this development that signalled a third entity was being targeted for takeover by the Sarawak government, he said: “As people say, there is no wind, the flag won’t be fluttering.”

Last Friday, Abang Johari told reporters that the state government aimed to take over another entity to boost the business sector and entrepreneurship.

According to him, the takeover would be announced in a month or two and that it would be one of three major entities to be wholly owned by the state this year.

“There are three entities we are going to take over in 2024. The first one (Bintulu Port) was done, the second one will be announced soon, and the third one is of course MASwings Sdn Bhd. (After taking over the entities), we will have a complete economic system for Sarawak,” he said. - Bernama