Malaysia’s Sarawak state is looking into opening up its state-backed unit trust fund, Amanah Saham Sarawak, to non-Malay Sarawakians by creating a second fund.
The move would be in line with the state government’s “inclusive policy” and “could also create another source of funds for investment in the state’s growing economy”, Abang Johari Openg,
Sarawak’s premier, told reporters in the state capital of Kuching on July 14 at a ceremony announcing Amanah Saham Sarawak’s dividend.
“I have asked the [Amanah Saham Sarawak] board members and senior management team to look into it,” he said.
Amanah Saham Sarawak now only manages one fund, the Amanah Saham Sarawak Fund 1, which as of July 14, had a net asset value of 598 million ringgit (US$148.22 million). The 33-year-old fund is mostly invested in bonds, and up to 30% in stocks.
