KUALA LUMPUR: The listing of United Asiapac Energy Berhad (UAE) on the Bursa Malaysia ACE Market on Monday marks the first milestone towards the target of having three Sarawak Bumiputera companies listed on Bursa Malaysia by 2030.

Sarawak Deputy Premier and Minister for International Trade, Industry and Investment Datuk Amar Awang Tengah Ali Hasan said the listing demonstrated the capability, expertise and ambition of Sarawak Bumiputera companies to grow and compete on a larger scale.

“The listing of United Asiapac proves that Bumiputera companies from Sarawak have the capability, expertise and aspiration to grow and compete on a larger scale,” he said.

His text of speech was read by Ministry of International Trade, Industry and Investment Sarawak (MINTRED) Small and Medium Enterprise (SME) Advisor Dato Sri Mohd Naroden Majais at the listing ceremony.

For the record, United Asiapac is a Bumiputera company from Sarawak specialising in well intervention solutions for the upstream oil and gas industry.

Datuk Amar Awang Tengah said while some companies are capable of reaching the listing stage through their own efforts and capabilities, the Sarawak government will continue to support promising Bumiputera companies through structured development and guidance.

This is important to help businesses progress from micro enterprises to small and medium enterprises, and eventually into larger companies ready for listing, he said.

“The Government’s role is to pave the way, provide guidance and connect promising companies with the financing, markets and expertise needed for them to grow,” he said.

To support this effort, the Sarawak Government through MINTRED will continue to strengthen cooperation with federal and state agencies as well as strategic partners, including TERAJU, Bursa Malaysia, financial institutions and industry players.

Such collaboration is also undertaken through the Sarawak Entrepreneur Development Coordination Committee (SEDCC), a platform for coordination among federal and state agencies with MINTRED as its secretariat.

The state government has also introduced the 3-7-20 Strategic Framework, which targets three Sarawak Bumiputera companies to be listed on Bursa Malaysia, the development of seven Bumiputera companies into Champions in strategic sectors, and helping 20 per cent of promising Bumiputera micro enterprises transition into sendirian berhad entities by 2030.

Datuk Amar Awang Tengah said United Asiapac’s listing demonstrated that the targets are practical and achievable through companies’ own efforts, structured guidance and cooperation between the government and private sector.

“United Asiapac should leverage its status as a listed company to expand its market, enhance its competitiveness and explore new opportunities.

“This success is also hoped to create more opportunities for the workforce, vendors and local enterprises in Sarawak,” he said.

Also present at the listing ceremony were Deputy Economy Minister Dato’ Indera Mohd Shahar Abdullah, Bursa Malaysia Berhad Chief Financial Officer Azizan Abdul Aziz, UAE Managing Director Ahmad Fadzuli Ali as well as United Asiapac Board members and management team. -UKASnews