1 hour ago
5
ADVERTISE HERE
Nicholas WungAdvertisement
By DayakDaily Team
KUCHING, July 14: While Sarawak United Peoples’ Party (SUPP) Kuching branch acting secretary and Youth chief Nicholas Wung Duk Ying welcomed the proposal to introduce a new investment product similar to Amanah Saham Sarawak (ASSAR) for non-Bumiputera Sarawakians, he also stressed that it must be studied carefully, with emphasis on legal compliance, risk management, investor protection, transparency, and long-term sustainability.
Wung noted that ASSAR had gradually moved onto a healthier and more regulated market-oriented operating path following its restructuring, adding that the 6.5 sen dividend per unit declared for the financial year ending June 30, involving a total payout of RM34.35 million-to-57,926-unit holders, reflected improving confidence in the fund’s reform direction.
Advertisement
“Expanding investment opportunities is positive, but protecting small investors is equally important. Any investment product offered to the public must be safe, transparent, easy to understand, and suitable for long-term participation,” he said in a statement.
Wung also welcomed the Premier’s call for Sarawakians to cultivate a savings and investment culture, especially as many families faced rising living costs and future financial uncertainty.
He said wider investment access must go hand in hand with financial literacy, so that the public understands savings, risk management and how to avoid dubious investment schemes.
“As Sarawak’s economy grows stronger, more Sarawakians should be able to see themselves as part of that progress and share in the state’s development,” he said.
He further lauded the move as a reflection of the Sarawak government’s inclusive approach to development, which showed that Sarawak’s economic growth was meant to be shared by all communities.
Likening it to the establishment of the Unit for Other Religions (Unifor), which institutionalised support for non-Islamic religious bodies, he said Sarawak has shown that inclusiveness is implemented through institutions and policies.
At the same time, he said that the proposal also showed that Sarawak’s financial and investment landscape under the Gabungan Parti Sarawak (GPS) government was becoming more mature.
“Sarawak is not only relying on resources and revenue. It is also building stronger financial platforms and investment tools suited to local needs,” he said.
Wung said the proposed second investment channel could help build a more comprehensive local trust fund framework, while preserving the existing role of ASSAR.
He said it could also provide non-Bumiputera Sarawakians, young investors, middle- and lower-income families and small investors with a suitable platform to save and invest according to their needs and risk profile.
On Monday (July 13), Premier Datuk Patinggi Tan Sri Abang Johari Tun Openg said ASSAR could soon open its doors to non-Bumiputera investors under a proposed second fund.
Dubbed ‘ASSAR 2’, the Premier said he has asked ASSAR’s board and top management to study the feasibility of the matter, modelled after Permodalan Nasional Berhad’s (PNB) multiple Amanah Saham Bumiputera (ASB) funds, to broaden access beyond the existing Bumiputera-only investment scheme.
“ASSAR is currently focused on Bumiputera investors. We are looking at what PNB has done, and perhaps we can introduce another fund, ASSAR 2, to give non-Bumiputera Sarawakians the opportunity to save and invest through Amanah Saham Sarawak,” he said. — DayakDaily
English (US) ·