The Sarawak government has just become the largest shareholder of Affin Bank, giving the state more control over financial matters. This is a huge step forward, as it means Sarawak can direct funds toward important projects, make loans more accessible for local businesses, and boost overall development across the state!
And that's not all—starting July 1, Petro Sarawak (Petros) has taken over all natural gas trading activities in Sarawak from Petronas, giving Sarawak even more control over its natural resources. This is set to increase state revenue and fuel further growth!
The Malaysian federal government is also backing Sarawak’s growth, doubling its special grant to RM600 million next year, while also allocating RM5.8 billion in the 2024 budget! With all this extra funding, Sarawak is set to spend more on infrastructure, creating even more opportunities for growth.
👷♂️ What’s happening in Sarawak right now?
Miri and Sibu are expanding their ports.
Kuching is upgrading its airport.
Over RM1 billion is being spent to upgrade the water piping
system!
Things are booming, but many are missing out on this! Local
companies in the construction business or supply building materials are still
under the investor's radar. Sarawak’s development plans need a lot of
resources, and local players could see huge benefits from this growth.
