Sarawak seeks third acquisition for further expansion.

KUCHING: Premier Tan Sri Abang Johari Tun Openg has revealed that Sarawak is currently negotiating with the Federal Government on another takeover request, in addition to the proposed acquisition of Bintulu Port and MASwings Sdn Bhd. The Premier declined to disclose the details of the request, but assured that it would be announced within this year.

During a press conference after attending the fifth anniversary dinner of the Sarawak Public Communications Unit, Abang Johari stated, “We are negotiating with the Federal Government on the return of three matters to Sarawak, including Bintulu Port and MASwings. As for the third, wait first.”

One of Sarawak’s main objectives is to integrate Bintulu Port, which is the country’s primary port for liquefied natural gas (LNG), with other state ports under a Central Port Authority. This move aims to streamline the management, operations, and development of all ports within the cluster.

In addition to the proposed acquisition of Bintulu Port, the state government is also set to sign a memorandum of understanding (MOU) with Malaysia Aviation Group (MAG) for the acquisition of MASwings. This follows a meeting between the state government and Khazanah Nasional Bhd, the main shareholder of MAG, on July 7, and the subsequent MOU signing on the acquisition of rural air services between the state and federal governments on July 20.

In high spirits: Abang Johari (second from right) launching the Sarawak Public Communications Unit’s new logo at its fifth anniversary dinner. ­— ZULAZHAR SHEBLEE/The Star

Furthermore, the state government has expressed its interest in taking over MASwings as part of its strategy to establish its own boutique airline. In his earlier speech, Abang Johari announced that Sarawak plans to retrieve three items from the Federal Government within the next three to six months. He emphasized that this move will strengthen Sarawak’s economic ecosystem and elevate its position.

Abang Johari also revealed that Sarawak’s sovereign wealth fund is set to commence operations next year. The Premier mentioned that the fund’s board of directors will be announced soon. The Sarawak Sovereign Wealth Future Fund Board Bill 2022 received approval from the Sarawak legislative assembly in November last year. With an initial amount of RM8bil, the fund aims to enhance the state’s financial sustainability.