Premier tight-lipped on acquiring bigger stake in bank

KUCHING: Premier Datuk Patinggi Tan Sri Abang Johari Tun Openg is tight-lipped about whether the Sarawak government will acquire an additional stake in Affin Bank Berhad.

“I dare not comment because Affin is a listed company,” he told reporters after a walkabout at the Brooke Dockyard Industrial Heritage Museum here today (Jan 17).

Previously, in a report by The Edge Malaysia on Jan 8, Affin Bank, in a Bursa Malaysia filing, stated that the Sarawak Financial Secretary is close to finalising a memorandum of understanding (MoU), potentially leading to an agreement to acquire an additional stake from the Armed Forces Fund Board (LTAT).

Currently, Sarawak holds a 4.95 per cent stake in the banking group and is said  to be interested in acquiring an additional 15 per cent from LTAT, which directly owns a 29.7 per cent of the shares.

Abang Johari however said the figure is incorrect but refused to divulge anything further.

When pressed on whether the Development Bank of Sarawak (DBOS) will play a role in acquiring the stake, he said DBOS is different; it was given the mandate by the state government to help and provide loans for state infrastructure such as roads, bridges, water and electricity supply, and so on.

“All of that falls under DBOS’s mandate, and we will repay each year.

“But, for a commercial bank…do you remember that I had previously applied for a digital banking licence but it was not approved?

“So, let’s be patient…let’s see what will happen,” he said.

During the Majlis Amanat Perdana 2024 for Sarawak Civil Service held recently, Abang Johari had hinted at good news for businesses and entrepreneurs here, which will be announced soon.