KUCHING: The Sarawak Sovereign Wealth Future Fund (SSWFF) has received total allocations of RM8.6 billion since its establishment in 2024, including an allocation of RM300 million this year.

Sarawak Deputy Premier and Second Minister of Finance and New Economy Datuk Amar Douglas Uggah Embas said the fund’s assets under management (AUM) were also expected to reach RM9.05 billion by the end of 2026.

“This reflects the commitment to continuously grow the fund for long-term savings and sustainable financial support for future generations,” he said.

He said this during his ministerial winding-up session at the 19th Sarawak Legislative Assembly (DUN) Sitting on Wednesday.

He added that SSWFF was established as an intergenerational long-term savings fund to diversify the state’s investment sources and convert part of its current revenue into enduring wealth for future generations.

Meanwhile, Datuk Amar Douglas explained that SSWFF prioritised capital preservation during the initial stages of portfolio development, while gradually investing in asset classes approved by its Board.

He said this prudent approach, which was aligned with the relevant Ordinance, had also enabled SSWFF to strengthen its position as a global investor while ensuring Sarawak’s wealth fund remained protected and continued to grow for the benefit of future generations.

In addition, he said SSWFF had gained international recognition after being approved as an Associate Member of the International Forum of Sovereign Wealth Funds (IFSWF).

In line with the Santiago Principles, the fund was now on track to attain full membership, reflecting its commitment to global best practices, transparency, accountability and sustainability in managing the state’s wealth. -UKASnews

Prepared by: Ahmad Daniel Faiz
Photos: George Embie & Muhd Zulfadhli Ahmad Sharir
Translator: Uilson Ng