Sarawak needs to set up SPV to facilitate acquisition of shares in Affin Bank

Abang Johari receiving a technology leadership award from Science, Technology and Innovation Minister Chang Lih Kang, witnessed by MBOT president Datuk Dr Siti Hamisah Tapsir. at the MBOT Experts Network In Technology, Innovation and Cooperative Event. – BernamapicSarawak needs to establish a special purpose vehicle to facilitate its shareholding acquisition from the Armed Forces Fund Board in Affin Bank, according to Premier Tan Sri Abang Johari Tun Openg.

“There is a process where Sarawak must have a special vehicle for shareholding. It is expected to be completed within a month. It’s a very minor technical process, regulatory in nature. We will hold a press conference during the sale and purchase agreement process in a month,” he said during a press conference after receiving a technology leadership award at the MBOT Experts Network In Technology, Innovation and Cooperative Event today.

“PCDS initiatives, such as expanding digital infrastructure and promoting green technology, ensure all communities benefit from technological advancements,” he added. “The Sarawak government has allocated RM1.89 billion to boost infrastructure and digital skills under the Sarawak Linking Urban, Rural, and Nation Initiative,” he added.

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Abang Jo: Sarawak’s acquisition of Affin Bank shares to be finalised within one monthKUCHING, July 20 — The Sarawak government’s acquisition of shares in Affin Bank is expected to be fully finalised within a month, said Premier Datuk Patinggi Tan Sri Abang...
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