KUCHING: The growth of small and medium-sized enterprises (SMEs) in Sarawak will be boosted with the state government’s increased stake in Affin Bank Bhd.
Federation of Chinese Associations of Sarawak president Datuk Richard Wee said the acquisition provides focus for Sarawak companies especially for SMEs which is important to Sarawakians.
“We will be able to let our Sarawakian companies grow with the support of the financial institutions,” he said.
Wee said currently, Sarawak does not have a bank that focuses on businesses in the state, adding the bank stake increase would allow Sarawak’s voice to be stronger.
“We used to have our own Sarawakian bank – Hock Hua Bank, Bian Chiang Bank, Bank Utama Bank, these were all Sarawakian banks.
“Those days when you are a Sarawak bank, you tend to take care of Sarawak customers, so after the consolidation in the late 1990s then all these banks were all taken over by West Malaysian banks,” he said.
He said this when speaking to reporters after a Chinese New Year open house held at his residence on Saturday (Feb 10).
In the same vein, Wee said it is possible with Affin Bank, the state government can assist Sarawakian companies financially.
He also added that while the current SME policy is a national policy, if the bank is a Sarawakian bank, the focus should be given to Sarawakian SME needs.
For the record, on Feb 5, Premier Datuk Patinggi Tan Sri Abang Johari Tun Openg revealed that the Sarawak government is in the process of acquiring a significant stake to secure a block holder position in Affin Bank Bhd.
The negotiations for acquiring stakes in the commercial bank will be finalised in the next month or two.
