Abang Jo proposes new investment fund for non-Bumi Sarawakians

 The first state-backed unit trust, Assar, was established in 1992 to generate income and stable financial returns for its investors.

Sarawak premier Abang Johari Openg said a second fund could provide non-Bumiputera Sarawakians with investment opportunities while generating additional capital to finance the state’s economic growth. (Bernama pic)

PETALING JAYA:

Sarawak premier Abang Johari Openg has asked the state-backed Amanah Saham Sarawak (Assar) unit trust to consider establishing a new fund for non-Bumiputera Sarawakians.

Abang Johari said a second fund could provide non-Bumiputera Sarawakians with investment opportunities while generating additional capital to finance the state’s economic growth, reported Borneo Post.

“If ASB has ASB 1 and ASB 2, perhaps we can have Assar 1 and Assar 2. This would allow non-Bumiputeras to participate in the trust fund,” he said at Assar’s 2026 dividend announcement ceremony in Kuching today.

He also proposed integrating Assar with the S Pay Global digital payment platform, allowing Sarawakians to invest amounts as low as RM10 to encourage wider participation.

Abang Johari said Assar could eventually invest in infrastructure projects, including deep-sea ports and airport developments, as Sarawak’s economy continues to expand.

Assar was established in 1992 with the aim of generating income and stable financial returns for its investors.

Assar declared a dividend distribution of 6.5 sen per unit for the financial year ended June 30, 2026, which Abang Johari said was the highest among Malaysian unit trust funds. - FMT