“Sarawak targets RM 270 billion Private Investment by 2030 to achieve high-income status”
Kuala Lumpur, 11 April 2019 – The Bursa-HLIB Stratum Focus series continues with its
8 th Edition, with panellist Datu Ismawi Ismuni, Chief Executive Officer of the
Regional Corridor Development Authority (RECODA) announcing a target of RM 270 billion
worth of private investments for Sarawak by 2030.
Datu Ismawi Ismuni said in order to achieve a high-income state status, factors such as purchasing power and household income should be taken into account besides the Gross
Domestic Product per capita.
“This is to ensure that household incomes of the people in Sarawak are at par with the
people in the Peninsula, if not better.” Datu Ismawi said at the Bursa-HLIB Stratum
Focus at Bursa Malaysia in Kuala Lumpur. He said that these efforts are important in aiding the government’s poverty eradication programs of increasing the B40 income levels in Malaysia.
“As an economic corridor will look at the bigger picture, so that it will create opportunities for people to take part in sustainable economic activities. This is the reason why we are
aggressively developing our interior and rural areas through our development agencies, as
quite a number of them are residing there and they can participate in areas of commercial
agriculture and tourism.” he said. This time, the Bursa-HLIB Stratus Focus series shifts its focus from industry-specific issues to visiting Sarawak and its potential as an investment destination.
The half-day forum themed ‘Sarawak: Journey in Transformation’ brought together a host of speakers and panellists from various industries together with around 80 analysts, fund
managers, industry players, and investors looking to expand their knowledge and update
themselves with the latest developments towards diversifying investments within Malaysia.
Datuk Muhamad Umar Swift, Chief Executive Officer of Bursa Malaysia said, “This edition of
the Bursa-HLIB Stratum Focus series provides a knowledge-sharing platform for corporates, analysts, and investors to be updated on the growth of Sarawak and its vast opportunities with an angle on sustainability and the environment. As a pioneer of the sustainability agenda in Malaysia, Bursa Malaysia is conscientiously inculcating a culture of building long-term value in a sustainable manner within the marketplace, and we are pleased with how the programme has evolved over the past four years to showcase the viable investment options
in our market.”
Presentations and panel sessions between industry experts and practitioners discussed
investment strategies within Sarawak and amongst others touched on the intensification of
economic growth and development planning, improved connectivity and infrastructure,
enhancement of amenities and services, land development and utilisation, as well as driving increased employment opportunity through economic and social development.
“Sarawak is going through rapid transformation in many aspects. As the third largest
contributor to national GDP coupled with its abundance of natural resources, local talent and East Malaysia gaining importance as a priority area indeed augurs well in boosting its vast potential as an investment destination of choice within Malaysia”, commented Lee Jim Leng, Group Managing Director and Chief Executive Officer of Hong Leong Investment Bank.
A list of impactful speakers during the event included Datu Ismawi Ismuni, Chief
Executive Officer of the Regional Corridor Development Authority (RECODA), Dato Isaac
Lugun, Group Chief Executive Officer – Corporate, Cahya Mata Sarawak Berhad, Tho
Kheng Chieng, Group Financial Controller, Sarawak Oil Palms, and weighing in with a
perspective on the environment was Saha Deva Arunasalam who represented Pertubuhan
Pelindung Khazanah Alam (PEKA).