KUCHING: A proposal to introduce a new investment product similar to ASSAR 2 for non-Bumiputera Sarawakians reflects the Sarawak government’s commitment to ensuring economic opportunities are shared fairly among all communities.
Kuching SUPP acting secretary and youth chief Nicholas Wung Duk Ying said the proposal by Premier Datuk Patinggi Tan Sri Abang Johari Tun Openg demonstrated the state’s inclusive development approach through practical policies benefitting every segment of society.
“The proposal reflects Sarawak’s inclusive approach to development. From religious affairs to economic participation, Sarawak has shown that inclusiveness is not merely a slogan, but something implemented through institutions and policies,” he said in a press statement on Tuesday (July 14).
Wung said the proposed investment channel mirrors the government’s efforts to broaden financial participation, citing the establishment of the Unit for Other Religions (UNIFOR) as another example of inclusiveness translated into meaningful institutional support.
He said Sarawak’s financial and investment landscape had matured significantly under the Gabungan Parti Sarawak (GPS) administration, with stronger financial platforms and investment instruments developed to meet the needs of local communities.
“The proposed fund could complement the existing ASSAR scheme by creating a more comprehensive local trust fund framework while preserving ASSAR’s current role and long-term objectives.”
He added that the initiative would provide non-Bumiputera Sarawakians, young investors, lower and middle-income households, and small investors with an appropriate platform to build savings and investments according to individual financial goals.
Nevertheless, he stressed that the proposal should undergo thorough assessment, particularly regarding legal compliance, investor protection, governance, transparency, effective risk management and long-term sustainability before implementation.
He said that ASSAR had demonstrated encouraging progress following its restructuring, highlighted by a 6.5 sen dividend per unit for the financial year ended June 30, benefitting 57,926 unit holders with a total payout of RM34.35 million.
He also welcomed the Premier’s call for Sarawakians to cultivate stronger savings and investment habits, stressing that wider access to investment opportunities must be accompanied by improved financial literacy to help the public understand risks and avoid fraudulent investment schemes while sharing in Sarawak’s growing prosperity.
