KUALA LUMPUR: Sarawak’s move to become AFFIN’s largest single shareholder is a strategic push to strengthen long-term financing capacity and support the state’s economic growth agenda, said Premier Datuk Patinggi Tan Sri Abang Johari Tun Openg.
He said Sarawak’s 2024 investment in Affin – the first initiative of its kind in Malaysia – was a deliberate effort to build a stronger financial platform rather than a symbolic gesture.
He also said the move aims to create synergy with a robust banking institution while enhancing Sarawak’s economic potential.
“This step was taken because development is not just about aspirations, but requires reliable financing capacity, timely access to capital, clear decision-making, and resilient implementation under any circumstances,” he said.
He was speaking at the AFFIN 50th Anniversary Gala Dinner and Chinese New Year Dinner at the Malaysia International Trade and Exhibition Centre (MITEC) here on Saturday.
Abang Johari added that Sarawak’s development agenda requires a broad financing spectrum rather than reliance on a single funding source.
He noted that under the Post-COVID-19 Development Strategy 2030 (PCDS 2030), AFFIN is well positioned to support financing that strengthens real economic capacity and promotes sustainable long-term growth.
“The market has also recognised AFFIN’s strengthening position when Moody’s affirmed the Group’s strong international credit rating at A3 and upgraded its standalone rating to Baa2.
“This recognition reflects high confidence in AFFIN and opens pathways to more competitive financing, further strengthening its role in supporting the economy and driving future growth,” he added.
On AFFIN’s regional standing, he said the Group’s inclusion in the Fortune Southeast Asia 500 for the second consecutive year underscores its growing relevance in a competitive regional landscape.
“This recognition is important because a stronger position will enhance its ability to provide better services to customers, support productive sectors, and expand access to responsible financing,” he said.
