SINGAPORE: The Sarawak Government is currently in the process of formulating the Sarawak State Ownership Policy to strengthen asset management and ensure the state’s long-term economic sustainability.
Premier Datuk Patinggi Tan Sri Abang Johari Tun Openg said the policy is being developed in collaboration with the World Bank as a strategic step to reorganise and consolidate all of the State’s assets.
“The main purpose of this policy is for us to assess and consolidate all Sarawak’s assets. In economic management, the most important thing is to maintain a balance between assets and liabilities. If assets are strong and liabilities are well controlled, the State is in a safe position,” he said.
He said this when addressing Sarawak civil servants in conjunction with the Sarawak Civil Service (SCS) One Team Retreat (OTR) 2025 in Singapore today.
Explaining further, Abang Johari said that assets currently under agencies such as the Bintulu Development Authority (BDA) and the Sarawak Economic Development Corporation (SEDC) have yet to be fully consolidated into a unified figure.
“We know they own assets, but we do not yet have the exact total value. The same goes for natural assets such as rivers, water, sunlight and forests; all these must be assessed as part of the State’s assets,” he explained.
Abang Johari said the assessment not only involves physical resources but also takes into account human assets, which include expertise, intelligence, and the capacity of the local workforce to innovate.
“We also need to evaluate how knowledgeable and skilled our people are in advancing the State. The combination of natural and human assets is what determines Sarawak’s true strength,” he said.
He emphasised that the implementation of the new policy will enable the government to optimise the use of assets to generate new revenue streams and expand the State’s overall macroeconomic development.
“When all assets are consolidated, we can determine the best ways to use them to generate income and develop the State’s economy,” he added.
Abang Johari explained that efficient asset management will ensure continuous resources for future development that directly benefits the people.
“With proper asset management, the returns can be reinvested into public development, including basic infrastructure such as electricity, water supply, and rural roads,” he said.
He also shared examples of water and solar power supply projects in remote areas such as Telang Usan, which have significantly improved the lives of local residents.
“When I officiated the solar project in Telang Usan, the residents expressed their gratitude because they can now own refrigerators. This helps them store food properly and ensures their children have sufficient protein for growth,” he said.
He said the Sarawak Government has now allocated over RM4 billion to upgrade water treatment and storage systems, as well as around RM1 billion for the replacement of old pipes.
“We no longer depend entirely on Kuala Lumpur. Sarawak is now implementing its own water and energy supply projects using local capacity and expertise,” he stressed.
Abang Johari added that the implementation of the Sarawak State Ownership Policy will form the foundation for fiscal efficiency, high-impact asset management, and a more efficient and productive governance structure, in line with the State’s aspiration to achieve developed and high-income status by 2030.
