KUCHING: The Sarawak government is in the process of acquiring a significant stake to secure a block holder position in Affin Bank Sdn Bhd.
Premier Datuk Patinggi Tan Sri Abang Johari Tun Openg said that the negotiations for acquiring stakes in the commercial bank will be finalised in the next month or two.
“We are optimistic that within a month or two, we will take over a bank where the majority block will be owned by Sarawakians. This strategic move will pave the way for the establishment of our own financial institution, dedicated to bolstering the growth of small and medium-sized enterprises (SMEs), including fashion industry players who need to conduct business online,” he told reporters after the 8th Convocation Ceremony of the Centre for Technology Excellence Sarawak (CENTEXS) at Santubong today (Feb 5).
Regarding the regulatory aspect of the acquisition, Abang Johari assured that the necessary formalities with Bank Negara Malaysia (BNM) are being addressed diligently.
He added that the acquisition would comply with the maximum block amount permitted by the regulatory authority.
