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KUALA LUMPUR, 14 Sept: United Asiapac Energy Berhad (UAE) listing in the ACE Bursa Malaysia Market today is the first achievement in Sarawak's efforts to achieve the target of listing three Bumiputera companies on Bursa Malaysia by 2030.
The Sarawak government described the listing of companies providing off-shore intervention solutions for the upstream oil and gas industry as an important development in expanding Bumiputera Sarawak's participation in the national capital market.
Deputy Prime Minister Sarawak embraced the Minister of International Trade, Industry and Investment (MINTRED), Datuk Amar Awang Tengah Ali Hasan, congratulating the board of directors, management line as well as all United Asiapac citizens on their achievements.
He said the listing reflects confidence in Bumiputera Sarawak's ability to penetrate a wider market.
"The listing of United Asiapac proves that the Bumiputera company from Sarawak has the ability, expertise and aspiration to grow and compete on a larger scale.
"The Government of Sarawak is aware that there are companies capable of achieving the listing level through their own efforts and capabilities", he said.
At the same time, he said, the government will continue to support Bumiputera's potential company through its development process and structured guidance or grooming process.
The measure aims to help the company grow from a micro enterprise to a small and medium-sized enterprise (SMEs), before reaching the level of a ready-to-list company.
"The role of the government is to pave the way, provide guidance and connect potential companies with the financing, markets and expertise they need to grow.
"The effort will continue to be strengthened through MINTRED's cooperation with Federal and State agencies as well as strategic partners including TERAJU, Bursa Malaysia, financial institutions and industry players", he said.
The cooperation was also implemented through the Sarawak Entrepreneur Development Coordination Committee (SEDCC), which acts as a platform for coordination and partnership between Federal and State agencies.
Meanwhile, the Sarawak Government introduced Strategic Framework 3-7-20 to clarify the growth path of Bumiputera company by 2030.
The framework targets three Sarawak-listed Bumiputera companies on the Malaysian Stock Exchange, seven Bumiputera companies developed as Champion in strategic sectors, in addition to helping 20 percent of Bumiputera's micro enterprises potentially switch to limited sole entities.
United Asiapac's listing is seen as evidence that the targets can be achieved through corporate efforts, structured guidance and close cooperation between government and private sector.
"United Asiapac should leverage its status as a listed company to expand markets, increase competitiveness and explore new opportunities.
"The success is also expected to open up more employment opportunities for local workers, vendors and enterprises in Sarawak", he added. - TVS
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