Premier says deal to take over majority shares in a bank to be formalised on July 19

KUCHING (July 5): Sarawak Premier Datuk Patinggi Abang Johari Tun Openg has hinted at an official signing ceremony to acquire a majority stake in a bank, most likely to be the long-speculated Affin Bank, this July 19.

While he did not specifically name the bank, Abang Johari said that Sarawak is set to take over a major financial block, positioning itself as a dominant player in Malaysia’s banking industry.

“There is no more secrecy. By then, we will officially sign to take over this major block, which includes substantial shares, soon, July 19,” he said in a press conference during the Amanah Saham Sarawak (Assar) dividend announcement at Hikmah Exchange Event Centre here today.

Abang Johari noted that this acquisition symbolises Sarawak reclaiming its former assets.

“We once lost what we had, and now we are taking it back. Previously, we had six banks taken from us, and now we are reclaiming them. Now we even have our own bank.

“The bank we are acquiring is bigger than those six banks, and we aim to become a dominant player in Malaysia’s banking business.

“Sarawak will play a crucial role, God willing, and this is reflected in our investment portfolio, which aims to boost Sarawak’s economy significantly,” he said.