Sarawak is thorough before investing in public listed companies, says state minister

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KUCHING, May 26 — Any investments by the Sarawak government in a listed stock are based on a thorough analysis and assessments of the companies involved, said Sarawak Second...

KUCHING, May 26 — Any investments by the Sarawak government in a listed stock are based on a thorough analysis and assessments of the companies involved, said Sarawak Second Minister for Finance and New Economy, Datuk Amar Douglas Uggah Embas.

“The state’s investments are intended for long term value appreciation and not for short-term trading,” he said in response to the issues related to the Sarawak government’s investment in a public-listed company, Serba Dinamik Holdings Bhd, raised by See Chee How during the debate. “No guarantee can be given about future performance and any decision to invest shall not be construed as offering such a guarantee.

He also told the assembly that when Sarawak participated in Serba Dinamik’s initial public offering in 2017 and subsequent investment prior to the Covid-19 pandemic, the company’s financial position was strong with revenue of RM2.72 billion in 2017 and RM4.52 billion in 2019.

 

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