KUALA LUMPUR: The Sarawak government will finalise the increase of its stake in Affin Bank Berhad in the near future.

Sarawak Premier Datuk Patinggi Tan Sri (Dr) Abang Abdul Rahman Zohari Tun Datuk Abang Openg said that the state government is still negotiating with Affin Bank and Lembaga Tabung Angkatan Tentera (LTAT) for potential additional share transactions.

According to him, Affin Bank is a public company and he refused to comment further because he did not want to affect their position.

“We see that Affin Bank’s performance is very good, basically we do market intelligence.

“So, soon, in the near future,” he said during a press conference after a keynote address in conjunction with the Malaysia Market Review Session 2024 organized by the Affin Group at the Affin Tun Razak Exchange Tower here, on Tuesday.

The Sarawak government, via its investment arm, the State Financial Secretary Sarawak, holds a 4.796 percent stake in Affin Bank that was acquired in April 2023.

Earlier, in his keynote speech, the Premier of Sarawak also shared about the Sarawak government’s initiatives, especially regarding renewable energy and the three policies of the Post Covid-19 Development Strategy 2030 (PCDS 2030).

Meanwhile, Datuk Patinggi Abang Zohari also touched on Sarawak’s desire to become the ‘Bavaria of Malaysia’.

“If Sarawak is prosperous and stable, Malaysia will also be prosperous and stable. In Germany, there is a most powerful region called Bavaria.

“Our mission is to become the Bavaria of Malaysia,” he said.

Also present were Deputy Premiers of Sarawak, Datuk Amar Douglas Uggah Embas and Datuk Amar Awang Tengah Ali Hasan, Sarawak State Secretary, Datuk Amar Mohamad Abu Bakar Marzuki, President and Chief Executive Officer of Affin Bank Berhad Group, Datuk Wan Razly Abdullah, Deputy Minister in the Sarawak Premier’s Department Sarawak (Law, MA63 And State-Federal Relations), Datuk Sharifah Hasidah Sayeed Aman Ghazali, Sarawak State Financial Secretary, Dato Sri Dr. Wan Lizozman Wan Omar, Sarawak Deputy State Secretary (Economic Planning & Development) Datu Dr. Muhammad Abdullah Zaidel, Chairman of Sarawak Economic Development Corporation (SEDC) Tan Sri Datuk Amar Abdul Aziz Husain and Chief Political Secretary to Sarawak Premier Fazzrudin Abdul Rahman. -UKASnews

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