Strategic investment in Affin Bank a bold step to build long-term financial synergy, says Premier Abang Johari

 KUALA LUMPUR:, Fen 8 2026: The Sarawak government's strategic investment in Affin Bank Berhad is a bold step to build long-term financial synergy, thus strengthening a sustainable financing ecosystem in support of the state's development agenda and economic growth.

Abang Johari Openg: The state's development agenda does not rely on just one form of financing, but rather requires a comprehensive spectrum. 

Premier Abang Johari Openg said Sarawak has taken a strategic step in 2024 by becoming the single largest shareholder of the bank, which is the first initiative of its kind in Malaysia and was not done on a symbolic basis.

He added that the move is aimed at building a stronger financial platform and creating synergy with established and capable banking institutions, in line with Sarawak's efforts to increase its economic potential.

"This step was taken because development does not just require aspirations, but demands reliable financing capabilities, access to timely capital, clear decisions, and resilient implementation in any situation," he said at the bank’s 50th anniversary dinner at the Malaysian International and Exhibition Centre (MITEC) here last night.

He stressed that the state's development agenda does not rely on just one form of financing, but rather requires a comprehensive spectrum.

He explained that as Sarawak progresses under the Post-Covid-19 Development Strategy 2030 (PCDS 2030), Affin Bank is strategically positioned to engage in financing that strengthens real economic capacity and supports long-term sustainable growth.

"The market has also recognised its increasing strength when Moody's affirmed the Group's strong international credit rating at A3 and raised its self-rating to Baa2.

"This recognition reflects high confidence in the bank and paves the way for more competitive financing, thus strengthening its role in supporting the economy and driving future growth," he added.

The premier said that the bank’s regional position is also gaining recognition when it is listed in the Fortune Southeast Asia 500 for the second consecutive year, proving that it  is an increasingly relevant Malaysian institution in a competitive regional environment.

"This recognition is important because a stronger position will enhance its ability to better serve customers, support productive sectors, and expand access to responsible financing.