KUALA LUMPUR: The Sarawak Government’s strategic investment in AFFIN is a far-sighted move to build long-term financial synergy, while strengthening a sustainable financing ecosystem to support the state’s development agenda and economic growth.

Sarawak Premier Datuk Patinggi Tan Sri (Dr) Abang Abdul Rahman Zohari Tun Datuk Abang Openg said Sarawak took a strategic step in 2024 by becoming AFFIN’s single largest shareholder, an initiative that is the first of its kind in Malaysia and was never intended to be merely symbolic.

According to him, the move aims to build a stronger financial platform and create synergy with a robust and capable banking institution, in line with Sarawak’s efforts to enhance its economic potential.

“This step was taken because development is not just about aspirations; it requires reliable financing capability, timely access to capital, clear decision-making, and resilient implementation under any circumstances,” he said.

He made these remarks at the AFFIN 50th Anniversary Gala Dinner and Chinese New Year Dinner held at the Malaysia International Trade and Exhibition Centre (MITEC) here on Saturday.

The Sarawak Premier added that the state’s development agenda does not rely on a single form of financing, but instead requires a comprehensive spectrum of funding mechanisms.

He explained that, in tandem with Sarawak’s progress under the Post-COVID-19 Development Strategy 2030 (PCDS 2030), AFFIN is well positioned to participate in financing that strengthens real economic capacity and supports sustainable long-term growth.

“The market has also recognised AFFIN’s strengthening position, as reflected in Moody’s affirmation of the Group’s strong international credit rating at A3 and the upgrade of its standalone rating to Baa2.

“This recognition reflects a high level of confidence in AFFIN and opens the door to more competitive financing, thereby reinforcing its role in supporting the economy and driving future growth,” he added.

Commenting on AFFIN’s standing, the Sarawak Premier said the Group’s regional profile is also gaining increasing recognition, having been listed in the Fortune Southeast Asia 500 for the second consecutive year.

This, he said, demonstrates that AFFIN is a Malaysian institution that is becoming increasingly relevant in a competitive regional environment.

“This recognition is important because a stronger standing enhances the ability to deliver better services to customers, support productive sectors, and expand access to responsible financing.”

Also present at the event were Minister of Finance II Senator Datuk Seri Amir Hamzah Azizan, Speaker of the Dewan Rakyat, Tan Sri Dato’ Dr Johari Abdul, Sarawak Secretary Datuk Amar Mohamad Abu Bakar Marzuki, Chairman of Affin Bank Berhad Dato’ Agil Natt, President and Group Chief Executive Officer of Affin Bank Berhad Datuk Wan Razly Abdullah, Sarawak Financial Secretary Dato’ Sri Dr Wan Lizozman Wan Omar Deputy Sarawak Secretary (Planning and Economic Development) Dato’ Sri Dr Muhammad Abdullah Zaidel, and other distinguished guests. -UKASnews

Reporter: Muller Asen
Translator: Uilson Ng
Photographer: Ameerul Syafiq Khir