Wednesday, 21 May 2025

Affin Bank expands footprint in Sarawak

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Abang Johari (4th left) shows the physical Affin Kenyalang Debit Card.

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KUCHING: Affin Bank Berhad continues to solidify its presence in the state following the opening of a new branch at ICOM Square, along with six additional branches across various locations.

Premier Datuk Patinggi Tan Sri Abang Johari Tun Openg said with the expansion in the state, there will be access for banking services offered to Sarawak clients.

“I am made to understand that they (Affin) are going to have a regional office in Kuching too.

“I hope you can give some authority to your senior management in Sarawak so that you can expedite growth especially for our small and medium enterprises (SMEs),” he said in his speech during the Affin Raya open house at a hotel here on Sunday (Apr 27).

Meanwhile, touching on the state government’s initiatives especially in implementing mega projects, he said the state government is fully aware of its direction and decisions as well as
carefully assesses both the costs and the labour requirements involved in the process.

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“The government of Sarawak won’t launch mega projects without including the financing, labour workforce and the overall economy.

“Before we launch any project, we have made calculations. The first five years, we concentrated on building our basic infrastructure like roads and bridges, which was financed by Sarawak’s own fund.

“And along the way, we also improved our water supply and energy right to the remote areas with the total sum of what we spent so far is RM36 billion.

“And by the year 2027, the RM36 billion will be settled through what we call the amortisation system. In terms of project implementation, it takes time and must also realize that there must be revenue stream planning.

“Therefore, a well-structured financial protocol is essential to ensure that projects are sustainably funded throughout their implementation, while simultaneously developing the required workforce. This must go together,” he said.

Amid ongoing global economic uncertainties driven by the trade war, he emphasised the importance of strengthening domestic forces.

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“Since external forces are currently facing challenges, might as well enhance and support the internal force. Once the global economy has stabilised, you are ready to tap into the market.

“For instance, if you go for gas, you are ready to supply methanol, ammonia, as part of the energy transition in using hydrogen and that will be your market.

“Once the market is ready, then you get the returns from the investment that you do,” he said.

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